10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM 10-Q

(Mark One) 

x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the Quarterly Period Ended June 30, 2016

OR

o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the Transition Period from                        to

Commission file number 000-30318

INVENTIV HEALTH, INC.

(Exact Name of Registrant as Specified in Its Charter)

Delaware	52-2181734
(State or other Jurisdiction of Incorporation or Organization)	(I.R.S. Employer Identification No.)

1 VAN DE GRAAFF DRIVE

BURLINGTON, MASSACHUSETTS 01803

(Address of Principal Executive Offices, Including Zip Code)

(800) 416-0555

(Registrant's Telephone Number, Including Area Code)

Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    Yes  x    No  o

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).    Yes  x    No  o

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer or a smaller reporting company. See the definitions of "large accelerated filer," "accelerated filer" and "smaller reporting company" in Rule 12b-2 of the Exchange Act. (Check one):

Large accelerated filer	o		Accelerated filer	o
Non-accelerated filer	x	(Do not check if a smaller reporting company)	Smaller reporting company	o

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).    Yes  o    No  x

Number of shares of the registrant's Common Stock outstanding at July 29, 2016: 1,000

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INVENTIV HEALTH, INC.

FORM 10-Q

TABLE OF CONTENTS

		Page
	PART I—FINANCIAL INFORMATION
ITEM 1. Financial Statements (unaudited)		1
	Condensed Consolidated Balance Sheets as of June 30, 2016 and December 31, 2015	1
	Condensed Consolidated Statements of Operations for the Three and Six Months Ended June 30, 2016 and 2015	2
	Condensed Consolidated Statements of Comprehensive Loss for the Three and Six Months Ended June 30, 2016 and 2015	3
	Condensed Consolidated Statement of Stockholder’s Deficit for the Three and Six Months Ended June 30, 2016	4
	Condensed Consolidated Statements of Cash Flows for the Six Months Ended June 30, 2016 and 2015	5
	Notes to Unaudited Condensed Consolidated Financial Statements	6
ITEM 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations		27
ITEM 3. Quantitative and Qualitative Disclosures about Market Risk		45
ITEM 4. Controls and Procedures		46
	PART II—OTHER INFORMATION
ITEM 1. Legal Proceedings		47
ITEM 1A. Risk Factors		47
ITEM 5. Other Information		47
ITEM 6. Exhibits		47
SIGNATURES		48
EXHIBIT INDEX		49

PART I.    Financial Information

ITEM 1. Condensed Consolidated Financial Statements (unaudited)

INVENTIV HEALTH, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(in thousands, except share and per share amounts)

(unaudited)

	June 30,			December 31,
	2016			2015
ASSETS
Current assets:
Cash and cash equivalents	$	95,877		$	121,317
Restricted cash		1,790			1,607
Accounts receivable, net of allowances for doubtful accounts of $5,937    and $5,395 at June 30, 2016 and December 31, 2015, respectively		377,469			359,081
Unbilled services		244,071			207,465
Prepaid expenses and other current assets		43,279			42,930
Income tax receivable		1,411			1,076
Total current assets		763,897			733,476
Property and equipment, net		138,345			142,032
Goodwill		897,441			895,369
Intangible assets, net		317,131			334,646
Non-current deferred tax assets		10,341			10,032
Other assets		39,895			37,134
Total assets	$	2,167,050		$	2,152,689
LIABILITIES AND STOCKHOLDER’S DEFICIT
Current liabilities:
Current portion of capital lease obligations and other financing arrangements	$	24,712		$	23,333
Accrued payroll, accounts payable and accrued expenses		354,397			333,726
Income taxes payable		5,600			5,484
Deferred revenue and client advances		237,133			246,656
Total current liabilities		621,842			609,199
Capital lease obligations, net of current portion		47,151			45,258
Long-term debt, net of current portion		2,121,561			2,101,885
Non-current income tax liability		7,570			5,942
Deferred tax liability		79,931			73,360
Other non-current liabilities		80,341			88,153
Total liabilities		2,958,396			2,923,797
Commitments and contingencies (Note 7)
inVentiv Health, Inc. stockholder’s deficit:
Common stock, $.01 par value, 1,000 shares authorized, issued and    outstanding at June 30, 2016 and December 31, 2015, respectively		1			1
Due from parent		(3,362	)		—
Additional paid-in-capital		576,741			573,739
Accumulated deficit		(1,332,687	)		(1,309,136	)
Accumulated other comprehensive loss		(33,481	)		(37,340	)
Total inVentiv Health, Inc. stockholder’s deficit		(792,788	)		(772,736	)
Noncontrolling interest		1,442			1,628
Total stockholder’s deficit		(791,346	)		(771,108	)
Total liabilities and stockholder’s deficit	$	2,167,050		$	2,152,689

The accompanying notes are an integral part of these condensed consolidated financial statements.

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INVENTIV HEALTH, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands)

(unaudited)

	For the Three Months Ended June 30,						For the Six Months Ended June 30,
	2016			2015			2016			2015
Net revenues	$	561,022		$	489,417		$	1,102,318		$	940,394
Reimbursed out-of-pocket expenses		82,824			83,077			173,807			150,400
Total revenues		643,846			572,494			1,276,125			1,090,794
Operating expenses:
Cost of revenues		389,735			326,230			762,111			626,735
Reimbursable out-of-pocket expenses		82,824			83,077			173,807			150,400
Selling, general and administrative expenses		117,956			133,555			241,712			266,469
Total operating expenses		590,515			542,862			1,177,630			1,043,604
Operating income (loss)		53,331			29,632			98,495			47,190
Gain on extinguishment of debt		—			—			221			—
Interest expense		(54,621	)		(57,126	)		(110,538	)		(113,605	)
Interest income		208			6			272			22
Income (loss) before income tax (provision) benefit and    income (loss) from equity investments		(1,082	)		(27,488	)		(11,550	)		(66,393	)
Income tax (provision) benefit		(3,305	)		(2,738	)		(11,481	)		(7,266	)
Income (loss) before income (loss) from equity investments		(4,387	)		(30,226	)		(23,031	)		(73,659	)
Income (loss) from equity investments		4			238			9			(1,291	)
Net income (loss)		(4,383	)		(29,988	)		(23,022	)		(74,950	)
Less: Net (income) loss attributable to the      noncontrolling interest		(91	)		(243	)		(529	)		(366	)
Net income (loss) attributable to inVentiv Health, Inc.	$	(4,474	)	$	(30,231	)	$	(23,551	)	$	(75,316	)

The accompanying notes are an integral part of these condensed consolidated financial statements. 

2

INVENTIV HEALTH, INC.

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS

(in thousands)

(unaudited)

	For the Three Months Ended June 30,						For the Six Months Ended June 30,
	2016			2015			2016			2015
Net income (loss)	$	(4,383	)	$	(29,988	)	$	(23,022	)	$	(74,950	)
Other comprehensive income (loss):
Foreign currency translation adjustment		(1,560	)		4,218			3,859			(1,227	)
Total other comprehensive income (loss)		(1,560	)		4,218			3,859			(1,227	)
Total comprehensive income (loss)		(5,943	)		(25,770	)		(19,163	)		(76,177	)
Less: Comprehensive (income) loss attributable to    the noncontrolling interest		(91	)		(243	)		(529	)		(366	)
Comprehensive income (loss) attributable to       inVentiv Health, Inc.	$	(6,034	)	$	(26,013	)	$	(19,692	)	$	(76,543	)

The accompanying notes are an integral part of these condensed consolidated financial statements.

3

INVENTIV HEALTH, INC.

CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDER’S DEFICIT

(in thousands)

(unaudited)

								Additional					Accumulated Other			Non-
					Due from			Paid-In		Accumulated			Comprehensive			controlling
	Shares		CommonStock		Parent			Capital		Deficit			Loss			Interest			Total
Balance at December 31, 2015		1	$	1	$	—		$	573,739	$	(1,309,136	)	$	(37,340	)	$	1,628		$	(771,108	)
Net loss		—		—		—			—		(23,551	)		—			529			(23,022	)
Increase in amounts due    from parent		—		—		(3,362	)		—		—			—			—			(3,362	)
Foreign currency translation    adjustment		—		—		—			—					3,859			—			3,859
Exercise of stock options		—		—		—			25		—			—			—			25
Stock-based compensation    expense		—		—		—			2,977		—			—			—			2,977
Distributions to noncontrolling    interest		—		—		—			—		—			—			(715	)		(715	)
Balance at June 30, 2016		1	$	1	$	(3,362	)	$	576,741	$	(1,332,687	)	$	(33,481	)	$	1,442		$	(791,346	)

The accompanying notes are an integral part of these condensed consolidated financial statements.

4

INVENTIV HEALTH, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(in thousands)

(unaudited)

	For the Six Months Ended June 30,
	2016			2015
Cash flows from operating activities:
Net income (loss)	$	(23,022	)	$	(74,950	)
Adjustments to reconcile net income (loss) to net cash provided by (used) in operating    activities:
Depreciation		27,721			22,650
Amortization of intangible assets		18,243			26,261
Amortization of deferred financing costs and original issue discount/premium		9,469			9,475
Payment-in-kind interest		8,025			31,800
(Gain) loss on disposal of assets		1,354			589
Stock-based compensation expense		2,977			515
Gain on extinguishment of debt		(221	)		—
Deferred taxes		6,569			5,183
Other non-cash adjustments		(886	)		2,236
Changes in assets and liabilities, net
Accounts receivable, net		(19,603	)		(12,462	)
Unbilled services		(37,496	)		(27,859	)
Prepaid expenses and other current assets		1,073			(1,661	)
Accrued payroll, accounts payable and accrued expenses		22,842			6,886
Income tax receivable and non-current income tax liability		1,054			429
Deferred revenue and client advances		5,400			36,276
Other, net		1,783			(561	)
Net cash provided by (used in) operating activities		25,282			24,807
Cash flows from investing activities:
Purchases of property and equipment		(12,617	)		(19,808	)
Proceeds from vehicle sales and rebates on vehicle leases		8,320			6,826
Other, net		(248	)		(32	)
Net cash provided by (used in) investing activities		(4,545	)		(13,014	)
Cash flows from financing activities:
Repayments on capital leases and other financing arrangements		(20,312	)		(14,943	)
Repurchase of Notes		(22,790	)		—
Borrowings under line of credit		—			153,000
Repayment on line of credit		—			(153,000	)
Payment on installment note and contingent consideration related to acquisition		(2,322	)		(2,082	)
Payments to parent		(173	)		—
Other, net		(226	)		(470	)
Net cash provided by (used in) financing activities		(45,823	)		(17,495	)
Effects of foreign currency exchange rate changes on cash		(354	)		238
Net increase (decrease) in cash and cash equivalents		(25,440	)		(5,464	)
Cash and cash equivalents, beginning of period		121,317			57,059
Cash and cash equivalents, end of period	$	95,877		$	51,595
Supplemental disclosure of cash flow information:
Cash paid for interest	$	71,563		$	72,440
Cash paid (refund) for income taxes		4,090			1,502
Supplemental disclosure of non-cash activities:
Vehicles acquired through capital lease agreements		23,108			17,617
Accrued capital expenditures		926			3,340
Expenses to be paid on behalf of parent included in accrued payroll,     accounts payable and accrued expenses		3,189			—

The accompanying notes are an integral part of these condensed consolidated financial statements.

5

INVENTIV HEALTH, INC.

Notes to Unaudited Condensed Consolidated Financial Statements

1. Organization and Business

inVentiv Health, Inc. (“inVentiv”, or the “Company”) is a leading global provider of outsourced clinical development and commercialization services to biopharmaceutical companies. The Company provides services through two reportable business segments: Clinical and Commercial. The Company provides a full suite of services to enhance its clients’ ability to successfully develop, launch and market their products. The Company offers its solutions on both a standalone and integrated basis. The Company’s services cover the entire biopharmaceutical development and commercialization continuum spanning from first-in-human clinical trials to the ongoing commercialization of mature products.

On August 4, 2010, inVentiv Acquisition, Inc., an indirect, wholly owned subsidiary of inVentiv Group Holdings, Inc. (“Group Holdings” or “Parent”) merged with and into the Company (the “THL Acquisition”). Group Holdings is controlled by affiliates of Thomas H. Lee Partners (“THL”), a global private investment and advisory firm, as well as certain co-investors and certain members of management (together with the private equity funds sponsored by THL, and the co-investors, the “Investors”).     

2. Basis of Presentation

The unaudited condensed consolidated financial statements are prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”), and include the accounts of inVentiv Health, Inc. and its wholly owned subsidiaries. In addition, the Company consolidates the accounts of its 60% owned subsidiary and reflects the minority interest as a noncontrolling interest classified in equity. The Company has both equity and cost method investments in securities of certain privately held entities.  Investments accounted for under the equity method are recorded at the amount of the Company’s investment and adjusted each period for the Company’s share of the investee’s income or loss.  During the six months ended June 30, 2015, the Company recognized a $1.3 million loss on dissolution of a joint venture accounted for under the equity method, which is included in income (loss) from equity investments in the consolidated statements of operations. Investments accounted for under the cost method are recorded at the historical carrying value.  The carrying value of both types of investments is recorded in other assets in the consolidated balance sheets and is immaterial.  All intercompany transactions have been eliminated in consolidation.

The condensed consolidated financial statements as of June 30, 2016 and for the three and six months ended June 30, 2016 and 2015 are unaudited, but in the opinion of management include all adjustments (consisting only of normal recurring adjustments) necessary for a fair presentation of the results for the interim periods. They do not include all of the information and footnotes required by GAAP for complete financial statements and should be read in conjunction with the 2015 audited consolidated financial statements and notes included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2015 dated March 18, 2016 on file with the Securities and Exchange Commission (the “SEC”).  The results reported in these condensed consolidated financial statements should not necessarily be viewed as indicative of the results that may be expected for the entire year. The balance sheet at December 31, 2015 has been derived from the audited financial statements at that date, but does not include all of the information and footnotes required by GAAP for complete financial statements.

The unaudited condensed consolidated financial statements of the Company have been prepared in conformity with GAAP, which requires management to make estimates and judgments that affect the reported amount of assets, liabilities, revenue, and expenses and disclosure of contingent assets and liabilities in the accompanying financial statements.  The significant estimates made by the Company include the estimated forecast that is used in assessing the realizability of the Company’s deferred tax assets and assessing whether the fair value of intangible assets and goodwill exceed the related carrying value.  In addition, the Company also makes significant estimates as it relates to revenue recognition, self-insurance reserves, including reserves for employee medical, automobile insurance and worker’s compensation. In the opinion of management, all adjustments considered necessary for a fair presentation have been reflected in these unaudited condensed consolidated financial statements.

Reclassifications

In the Company’s 2015 consolidated financial statements, the Company reclassified certain costs from selling, general and administrative (“SG&A”) expenses to cost of revenues to conform to the presentation adopted for 2016. The revised classification aligns all personnel and related costs associated with service delivery within cost of revenues, along with the associated information technology costs supporting these processes.  These changes better harmonize the accounting policies of the group, and are consistent with how management is assessing performance and managing costs. As a result of the revision in the classification of the costs, the previously reported SG&A was reduced by $7.9 million and $17.2 million, respectively, for the three and six months ended June 30, 2015, and cost of revenues has increased by a corresponding amount.  The reclassification had no impact on our consolidated financial position, net operating results included in our statements of operations or cash flows. The Company also aggregated the presentation

6

of certain line items in the consolidated statement of cash flows for the six months ended June 30, 2015 to conform to the current year presentation.

3. Recent Accounting Pronouncements

In March 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update 2016-09 (“ASU 2016-09”), Compensation—Stock Compensation (Topic 718) to simplify several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. ASU 2016-09 is effective for interim and annual reporting periods beginning after December 15, 2016. Early adoption is permitted. The Company is currently evaluating the impact of adopting ASU 2016-09 on the Company’s consolidated financial position, results of operations and statement of cash flows.

In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) (“ASU 2016-02”) to increase transparency and comparability among organizations by requiring the recognition of right-to-use assets and liabilities on the balance sheet and disclosing qualitative and quantitative information about leasing arrangements. ASU 2016-02 will be applied on a modified retrospective basis and to each prior reporting period presented and is effective for interim and annual reporting periods beginning after December 15, 2018. Early adoption is permitted. The adoption of this standard is expected to have a material impact on the Company’s consolidated balance sheets, and its potential impact is currently being evaluated.

In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606), which provides guidance for revenue recognition (“ASU 2014-09”).  ASU 2014-09 will supersede the revenue recognition requirements in Revenue Recognition (Topic 605), and most industry-specific guidance.  In July 2015, the FASB deferred the effective date of the new revenue recognition standard by one year, and it is effective for interim and annual periods beginning after December 15, 2017. Early adoption is permitted, but no earlier than the original effective date of January 1, 2017. In May 2016, the FASB issued ASU 2016-12 which provides clarifying guidance in a few narrow areas and adds some practical expedients to the guidance. The Company is currently evaluating the impact of adopting the new revenue recognition standard on the Company’s consolidated financial position and results of operations.

4. Goodwill

The following table sets forth the carrying amount of goodwill for each segment as of June 30, 2016 and December 31, 2015 (in thousands):

	Clinical			Commercial		Total
Net goodwill at December 31, 2015	$	382,215		$	513,154	$	895,369
Foreign currency translation		(40	)		2,112		2,072
Net goodwill at June 30, 2016	$	382,175		$	515,266	$	897,441

As of June 30, 2016 and December 31, 2015, the Company had accumulated goodwill impairment losses of $478.3 million.

5. Intangible Assets

The following table sets forth the carrying amount of the Company’s intangible assets as of June 30, 2016 and December 31, 2015 (in thousands):

	June 30, 2016							December 31, 2015
			Accumulated							Accumulated
	Gross		Amortization			Net		Gross		Amortization			Net
Customer relationships	$	366,268	$	(164,093	)	$	202,175	$	365,777	$	(148,679	)	$	217,098
Technology		27,214		(26,559	)		655		27,003		(26,206	)		797
Tradenames subject to amortization		18,310		(16,894	)		1,416		18,293		(16,657	)		1,636
Backlog		95,050		(92,144	)		2,906		95,014		(89,427	)		5,587
Other		1,020		(645	)		375		1,020		(585	)		435
Total finite-lived intangible assets		507,862		(300,335	)		207,527		507,107		(281,554	)		225,553
Tradenames not subject to amortization		109,604		—			109,604		109,093		—			109,093
Total intangible assets	$	617,466	$	(300,335	)	$	317,131	$	616,200	$	(281,554	)	$	334,646

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6. Debt

The Company’s indebtedness is summarized as follows (in thousands):

	June 30,			December 31,
	2016			2015
Senior Secured Credit Facilities:
Term Loan Facility B3 loans, due 2018	$	129,645		$	129,645
Term Loan Facility B4 loans, due 2018		445,694			445,694
Senior Secured Notes, due 2018		625,000			625,000
ABL Facility		—			—
Junior Lien Secured Notes, due 2018		579,837			569,691
Senior Unsecured Notes, due 2018		376,316			376,316
International Facility		—			—
Capital leases and other financing arrangements		71,863			68,591
Total borrowings		2,228,355			2,214,937
Less: unamortized premium (discount)		(7,174	)		(9,030	)
Less: unamortized deferred financing costs		(27,757	)		(35,431	)
Less: current portion of capital leases and other financing    arrangements		(24,712	)		(23,333	)
Total long-term borrowings, net of current portion	$	2,168,712		$	2,147,143

At June 30, 2016, the Company had $575.3 million outstanding under the Senior Secured Credit Facilities, which consisted of $129.6 million under the B3 term loans and $445.7 million under the B4 term loans.  The Company had $625.0 million outstanding under the Senior Secured Notes, and there were no outstanding borrowings under the ABL Facility (as defined below).  The Company also had $579.8 million outstanding under the Junior Lien Secured Notes (as defined below), and $376.3 million outstanding under the Senior Unsecured Notes.  In addition, the Company had capitalized leases and other financing arrangements of $71.9 million outstanding as of June 30, 2016.

On July 1, 2015 one of the Company’s indirect subsidiaries in the United Kingdom, inVentiv Health Clinical UK Ltd., (“inVentiv UK”) as borrower, and one of the Company’s indirect subsidiaries in Switzerland, inVentiv Health Switzerland GmbH, as guarantor, entered into an asset-based lending facility (the “International Facility”) for up to $20.0 million. This facility is available to enhance international cash management. At June 30, 2016, the Company had no outstanding borrowings under the International Facility, approximately $0.1 million in letters of credit outstanding against the International Facility and would have been able to borrow up to $18.3 million.

On August 15, 2014, the Company consummated an exchange offer (the “Junior Lien Notes Exchange Offer”) with holders of its 10% Senior Unsecured Notes due 2018 in which the Company issued $475.0 million aggregate principal amount of new 10%/12% Junior Lien Secured Notes due 2018 (the “Junior Lien Secured Notes”) in exchange for a like amount of the Company’s 10% Senior Unsecured Notes due 2018. The Junior Lien Secured Notes permit up to six semi-annual interest payments to be settled through the issuance of additional Junior Lien Secured Notes. The interest rate with respect to the Junior Lien Secured Notes is a cash rate of 10% per annum or a payment-in-kind (“PIK”) rate of 12% per annum (“PIK Interest”). The Company paid interest on the Junior Lien Secured Notes for the periods commencing August 15, 2014, February 15, 2015 and August 15, 2015 in PIK Interest and elected to pay interest for the period commencing February 15, 2016 in cash. The Company does not intend to utilize the PIK feature for the period commencing on August 15, 2016 and ending on February 14, 2017 with respect to the PIK Notes and intends to pay interest on the PIK Notes entirely in cash for this period. On January 8, 2016, the Company’s Board of Directors approved the repurchase by the Company of its certain Junior Lien Secured Notes and the subsequent cancellation of such repurchased notes (the “PIK Note Repurchase”). During the first quarter of 2016, the Company repurchased and cancelled an aggregate principal amount of $23.7 million of its Junior Lien Secured Notes, including accrued and unpaid interest, through open market purchases for $23.1 million.  As a result of the PIK Note Repurchase, the Company reduced its debt and a pro rata portion of deferred financing costs and debt discount on the transactions and recorded a gain on extinguishment of debt of $0.2 million.

On August 12, 2014, in connection with the Junior Lien Notes Exchange Offer, affiliates of Thomas H. Lee Partners, L.P. and certain co-investors purchased $25.0 million of Junior Lien Secured Notes and $26.3 million of the Company’s 10% Senior Unsecured Notes due 2018 for a total consideration of $50.0 million (the “New Money Investment”). The $26.3 million of 10% Senior Unsecured Notes due 2018 were issued at a 5% discount to par value resulting in a $1.3 million discount that is accreted over the related term using the effective interest method. Additionally, on August 15, 2014 the Company issued an additional $7.0 million of Junior Lien Secured Notes (the “Backstop Consideration”) to a group of holders of the Company’s 10% Senior Unsecured Notes due 2018 as

8

consideration for such holders’ agreement to tender the 10% Senior Unsecured Notes due 2018 held by them into the Junior Lien Notes Exchange Offer.

In connection with the Junior Lien Notes Exchange Offer, the Company’s term loan facility and asset-backed revolving facility were amended on July 28, 2014 (the “Credit Agreement Amendments”) to permit the Junior Lien Notes Exchange Offer, the New Money Investment and the issuance of the Backstop Consideration and to extend the maturities of certain outstanding term loans from 2016 to 2018. The margin on the term loans increased by 0.25% when compared to the interest rates on the prior term loans.  There was no net change in the outstanding principal balance of the term loans as a result of the modified terms.

On August 16, 2013, the Company, Citibank, N.A. and certain financial institutions entered into a credit agreement for an asset-based revolving credit facility of up to $150.0 million (the “ABL Facility”), subject to borrowing base availability, which matures on August 16, 2018. Up to $35.0 million of the ABL Facility is available for the issuance of letters of credit.

All obligations under the ABL Facility are secured by the Company’s domestic subsidiaries and secured by a first priority lien on current assets of the Company and its domestic subsidiaries and a second priority lien on all other assets of the Company and its domestic subsidiaries. The available borrowing capacity varies monthly according to the levels of the Company’s eligible accounts receivable and unbilled receivables. As of June 30, 2016, the Company had no outstanding borrowings under the ABL Facility, approximately $20.7 million in letters of credit outstanding against the ABL Facility and would have been able to borrow up to an additional $129.3 million.

Cash Pooling

The Company and certain of its international subsidiaries entered into a notional cash pooling arrangement (“Cash Pool”) to help manage global liquidity requirements. The parties to the arrangement combine their cash balances in pooling accounts with the ability to set-off overdrafts to the bank against positive cash balances. Each subsidiary receives interest on the cash balances or pays interest on amounts owed. At June 30, 2016, the Company’s net cash position in the pool of $11.1 million, defined as the gross cash position in the pool of $98.2 million less borrowings of $87.1 million, is reflected as cash and cash equivalents in the consolidated balance sheet.

Fair Value of Long-Term Debt

The carrying amounts and the estimated fair values of long-term debt as of June 30, 2016 and December 31, 2015 are as follows (in thousands):

	June 30, 2016				December 31, 2015
	Carrying value		Estimated fair value		Carrying value		Estimated fair value
Term Loan Facility	$	569,320	$	573,900	$	567,673	$	570,051
Senior Secured Notes		620,204		645,312		618,616		633,594
Junior Lien Secured Notes		565,660		592,158		551,552		537,646
Senior Unsecured Notes		366,376		376,316		364,043		371,142

The fair value of long-term debt instruments is measured based on market values for debt issues with similar characteristics, such as maturities, credit ratings, collateral and interest rates available on the measurement dates for debt with similar terms (level 2 within the fair value hierarchy).  The Company believes the carrying values for capital leases and other financing arrangements approximate their fair values.

7. Contingencies

On October 31, 2013, Cel-Sci Corporation (Cel-Sci) (“Claimant”) made a demand for arbitration under a Master Services Agreement (the “MSA”), dated as of April 6, 2010 between Claimant and two of the Company’s subsidiaries, inVentiv Health Clinical, LLC (formerly known as PharmaNet, LLC) and PharmaNet GmbH (currently known as inVentiv Health Switzerland GmbH and formerly known as PharmaNet AG) (collectively, “PharmaNet”). Under the MSA and related project agreement, which were terminated by Claimant in April 2013, Claimant engaged PharmaNet in connection with a Phase III Clinical Trial of its investigational drug. The arbitration claim alleges (i) breach of contract, (ii) fraud in the inducement, and (iii) common law fraud on the part of PharmaNet, and seeks damages of at least $50 million. In December 2013, inVentiv Health Clinical, LLC filed a counterclaim against Claimant that alleges breach of contract and seeks at least $2 million in damages. The matter proceeded to the discovery phase. In January 2015, inVentiv Health Clinical, LLC filed additional counterclaims against Claimant that allege (i) breach of contract, (ii) opportunistic breach, restitution and unjust enrichment, and (iii) defamation, and seeks at least $2 million in damages and $20 million in other equitable remedies. A hearing is currently scheduled to begin in the second half of 2016. No assessment can be made at this

9

time as to the likely outcome of this matter or an estimateof the possiblerange of loss.  Accordingly, no provision has been recorded as no loss is considered probable or estimable.

Other Matters

The Company is subject to lawsuits, investigations and claims arising out of the conduct of its business, including those related to commercial transactions, contracts, government regulation and employment matters. Certain claims, suits and complaints have been filed or are pending against the Company. The Company does not believe that the outcome of any legal proceedings, individually or in the aggregate, if decided adversely to its interests, would have a material adverse effect on its business, financial condition, liquidityor results of operations.

8. Concentration of Credit Risk

The Company’s receivables are concentrated with major pharmaceutical companies. Credit risk is managed through the continuous monitoring of exposures with the Company’s clients. The Company does not require collateral or other security to support client receivables. For the three and six months ended June 30, 2016, Pfizer accounted for approximately 12% of the Company’s net revenues. For the three months ended June 30, 2015, Pfizer Inc. accounted for approximately 10% of the Company’s net revenues. No customer accounted for 10% or more of the Company’s net revenues for the six months ended June 30, 2015. As of June 30, 2016, one client represented approximately 10% of the accounts receivable balance.

9. Common Stock and Stock Incentive Plans

On July 2, 2015 the Company’s Board of Directors granted new option awards to eligible employees in exchange for certain outstanding restricted stock units granted under the Group Holdings’ Equity Incentive Plan, on a one-for-one basis. Thirty-five percent of the options in the new award vest upon the passage of time and completion of a service requirement and sixty-five percent vests based upon achievement of certain specified performance targets and completion of a service requirement. Approximately 1,606,478 of the outstanding restricted stock units were exchanged in the program. The exchange was treated as a modification of the awards and no incremental stock compensation was recognized as the exchange securities were not considered probable of vesting on the date of the exchange. The Company recognizes the fair value of the new option awards in compensation expense over the service period to the extent that vesting of the awards is considered probable.

On March 25, 2016, the Company granted 1,147,154 share-based awards. Of these share-based awards, 1,106,956 represent options that vest thirty-five percent upon the passage of time and completion of a service requirement and sixty-five percent upon achievement of certain specified performance targets and completion of a service requirement. The remaining 40,198 share-based awards are comprised of restricted stock awards that vest if a liquidity event occurs such that the Investors achieve a defined return on their investment and options that vest based on the passage of time. The Company recognizes the fair value of the option awards in compensation expense over the service period to the extent that vesting of the awards is considered probable.

10. Termination Benefits and Other Cost Reduction Actions

The Company undertook certain actions to continue to implement cost containment measures and efficiency initiatives in an effort to better align operating costs with market and business conditions. Expenses related to these actions that include real estate consolidations, elimination of redundant functions and employees, are summarized below (in thousands):

	For the Three Months Ended June 30,				For the Six Months Ended June 30,
	2016		2015		2016		2015
Employee severance and related costs	$	2,342	$	3,545	$	5,087	$	6,124
Facilities-related costs		3,846		155		5,231		331
Total	$	6,188	$	3,700	$	10,318	$	6,455

For the three and six months ended June 30, 2016, restructuring costs of $1.1 million and $2.6 million, respectively, have been included in cost of revenues and $5.1 million and $7.7 million, respectively, have been included in SG&A expenses, respectively.  The $6.2 million of costs incurred in the three months ended June 30, 2016 includes $1.5 million of costs related to Clinical, $4.4 million related to Commercial and $0.3 million related to Corporate. The $10.3 million of costs incurred in the six months ended June 30, 2016 includes $2.7 million of costs related to Clinical, $7.3 million related to Commercial and $0.3 million related to Corporate. For the three and six months ended June 30, 2015, restructuring costs of $1.6 million and $2.9 million, respectively, have been included in cost of revenues and $2.1 million and $3.6 million, respectively, have been included in SG&A expenses, respectively.  The $3.7 million of costs incurred in the three months ended June 30, 2015 includes $0.6 million of costs related to Clinical and $3.1 million

10

related to Commercial.The $6.5 million of costs incurred in the six months ended June 30, 2015 includes $1.6 million of costs related to Clinical, $4.8 million related to Commercial and $0.1 million related to Corporate.  

The following table summarizes the Company’s restructuring reserve as of June 30, 2016 and December 31, 2015 (in thousands):

	Balance at							Balance at
	December31,							June 30,
	2015		Net Costs		Cash Payments			2016
Employee severance and related costs	$	4,245	$	5,087	$	(6,331	)	$	3,001
Facilities-related costs		3,942		5,231		(2,214	)		6,959
Total	$	8,187	$	10,318	$	(8,545	)	$	9,960

The Company expects that severance payments accrued at June 30, 2016 will be paid within the next twelve months. Certain facility costs will be paid over the remaining lease term of the exited facilities through 2027.

The net costs in the table above exclude non-cash charges of approximately $0.5 million for the six months ended June 30, 2016 related to abandoned assets at certain facilities.

11. Income Taxes

The Company accounts for income taxes at each interim period using its estimated annual effective tax rate. Discrete items and changes in the estimate of the annual effective tax rate are recorded in the period they occur. The consolidated effective tax rate was approximately (305.5%) and (10.0%) for the three months ended June 30, 2016 and 2015, respectively, and (99.4%) and (10.9%) for the six months ended June 30, 2016 and 2015, respectively. The income tax provision for the three and six months ended June 30, 2016 and 2015 reflects that the Company (i) continued to record a full valuation allowance for its domestic and certain foreign tax jurisdictions, (ii) recorded a tax provision for certain foreign and state jurisdictions that generated earnings, (iii) incurred a deferred tax provision in its domestic jurisdiction arising from taxable temporary differences related to amortization of indefinite-lived intangible assets and goodwill, and (iv) recorded changes in unrecognized tax benefits (including related penalties and interest) as they occur. 

The Company provides a valuation allowance to reduce deferred tax assets to their estimated realizable value if, based on the weight of all available evidence, it is not more likely than not that a portion or all of the deferred tax assets will be realized. The Company does not expect to record significant tax benefits on future domestic net operating losses until circumstances justify the recognition of such benefits.

As a result of the domestic valuation allowance, taxable temporary differences from the amortization of goodwill and indefinite-lived intangible assets are expected to result in $8.5 million of income tax expense for 2016, and are reflected in the Company’s estimated domestic annual effective tax rate. Goodwill and indefinite-lived intangible assets are amortized for income tax purposes, but not for financial statement reporting purposes. This difference results in net deferred income tax expense since the taxable temporary difference cannot be scheduled to reverse during the loss carryforward period. The Company will record tax expense related to the amortization of its tax deductible goodwill and indefinite-lived intangible assets during those future periods for which it maintains domestic valuation allowances, or until its estimated unamortized balance of $111.4 million at December 31, 2016 is fully amortized for tax purposes.

12. Related Parties

Management Arrangements

Upon completion of the THL Acquisition, the Company entered into a management agreement (“THL Management Agreement”) with THL Managers VI, LLC (“THL Managers”), in which THL Managers agreed to provide management services to the Company until the tenth anniversary of the consummation of the THL Acquisition with evergreen one-year extensions thereafter. Pursuant to the THL Management Agreement, THL Managers will receive an aggregate annual management fee in an amount per year equal to the greater of (a) $2.5 million or (b) 1.5% of EBITDA, as defined in the THL Management Agreement. In addition, the Company will reimburse out-of-pocket expenses, including travel related costs, incurred by THL Managers. The Company recognized $1.0 million and $0.7 million in management fees and related costs for the three months ended June 30, 2016 and 2015, respectively, and $1.9 million and $1.4 million for the six months ended June 30, 2016 and 2015, respectively.

The management agreement with the THL Managers includes customary exculpation and indemnification provisions in favor of the THL Managers and their affiliates. The THL Managers may terminate their management agreement at any time. The THL Managers’ management agreement will terminate automatically upon an initial public offering or a change of control. Upon

11

termination due to an initial public offering or a change of control, the THL Managers will be entitled to a termination fee based on the net present value of their annual fee due during the remaining period from the date of termination to the then applicable scheduled date of termination of their management agreement.

Upon completion of the THL Acquisition, the Company entered into a management agreement with Liberty Lane IH LLC (“Liberty Lane”), in which Liberty Lane agreed to provide management services to the Company. Mr. Meister, the Company’s former Chief Executive Officer, is affiliated with Liberty Lane. Pursuant to the agreement, Liberty Lane or its affiliates received an aggregate annual management fee in an amount per year equal to $1.0 million. On December 5, 2012, the agreement was amended to lower the per year management fee to $0.8 million beginning January 1, 2013. The agreement was terminated in the second quarter of 2015 with an effective date of September 24, 2014 to reflect Mr. Meister’s resignation as Chief Executive Officer. The Company reversed management fees of $0.2 million for the three months ended June 30, 2015 and no net fees were incurred for the six months ended June 30, 2015.

On November 12, 2012, the Human Capital and Compensation Committee of Group Holdings granted to Liberty Lane options to purchase shares of Common Stock equal to approximately 1.4% of the fully diluted equity of Group Holdings. The options would have vested if a liquidity event occurred such that the Investors achieved a certain return on their investment. These awards were cancelled in the second quarter of 2015 to reflect Mr. Meister’s resignation as Chief Executive Officer, and the Company issued 38,054 Multiple of Money (“MoM”) Option Awards to Mr. Meister during 2015.

At June 30, 2016, the Company had outstanding receivables from Group Holdings in the amount of $3.4 million, which was included in due from parent within stockholder’s deficit in the Company’s condensed consolidated balance sheet.

Commercial Transactions

There were three entities for the three and six months ended June 30, 2016 and four entities for the three and six months ended June 30, 2015 in which THL or its affiliates held a 10% or greater interest that provided services exceeding $120,000 in value to the Company. The services included facilities management, audio conferencing and information technology services in 2015 and information technology services in 2016.  The aggregate fees for these services were $0.2 million and $1.1 million for the three months ended June 30, 2016 and 2015, respectively, and $0.6 million and $2.7 million for the six months ended June 30, 2016 and 2015, respectively,

One of the Company’s directors, Blane Walter, acquired a 10% or greater interest in and became a director of an entity in 2013 which provided relationship enterprise technology solutions to the Company exceeding $120,000 in value over the previous twelve month period.  No services were provided for the three and six months ended June 30, 2016 and services for fees of less than $0.1 million and $1.8 million were provided for the three and six months ended June 30, 2015.

Debt Instruments

In 2014, affiliates of Thomas H. Lee Partners, L.P., Liberty Lane and Blane Walter purchased $25.0 million of Junior Lien Secured Notes and $26.3 million of the Company’s 10% Senior Unsecured Notes due 2018 for a total consideration of $50.0 million as described in Note 6.

13. Fair Value Measurements

The Company’s financial instruments include cash and cash equivalents, accounts receivables, unbilled services, accounts payable, short-term borrowings, capital leases and other financing arrangements as well as deferred revenues and client advances. Due to the short-term nature of such instruments, the Company believes their carrying values approximate fair value. Please refer to Note 6 for discussion of the Company’s debt instruments.

The Company’s contingent consideration obligations are carried at fair value considering the Company’s best estimates as to the probable timing and amount of settlement (level 3 within the fair value hierarchy). As of June 30, 2016, the contingent consideration obligations had an aggregate fair value of $0.2 million, which is included in accrued expenses in the consolidated balance sheets.

The Company’s deferred compensation plan provides eligible management and other highly compensated employees with the opportunity to defer their compensation and to receive the deferred amounts in the future or upon termination of employment with the Company. The Company invests in the underlying mutual fund investments available to plan participants through investments held in a rabbi trust, which generally offset the liability associated with the deferred compensation plan. These securities are classified as trading securities and carried at fair value (level 1 within the fair value hierarchy) of $12.2 million and $10.8 million as of June 30,

12

2016 and December 31, 2015 and included in other assets in the consolidated balance sheets. Gains and losses are included in SG&A expenses.

14. Segment Information

The Company provides services through two reportable segments, Clinical and Commercial. Each reportable business segment is comprised of multiple service offerings that, when combined, create a fully integrated biopharmaceutical outsourced services provider. Clinical provides a continuum of services spanning phases I-IV of clinical development. Commercial, provides commercialization, medication adherence and consulting services to biopharmaceutical companies.  The Clinical and Commercial segments provide services to the other segments primarily in connection with the delivery of services to the end client. The Company accounts for intersegment sales on prices that management considers to be consistent with market pricing.  Total intersegment sales from Clinical to Commercial was $0.1 million and $0.7 million for the three months ended June 30, 2016 and 2015, respectively, and $0.2 million and $1.3 million for the six months ended June 30, 2016 and 2015, respectively.  Total intersegment sales from Commercial to Clinical or Corporate and other was $4.7 million and $3.0 million for the three months ended June 30, 2016 and 2015, respectively, and $9.1 million and $5.6 million for the six months ended June 30, 2016 and 2015, respectively.

Management measures and evaluates the Company’s operating segments based on segment net revenues and adjusted operating income.  The results of these reportable business segments are regularly reviewed by the Company’s chief operating decision maker, the Chief Executive Officer.  Certain costs are excluded from segment operating income because management evaluates the operating results of the segments excluding such charges.  These items include depreciation and amortization; certain foreign currency impacts; net charges associated with acquisitions; certain legal charges, net of insurance recoveries; certain asset impairment charges; stock-based compensation; as well as corporate and other unallocated expenses.  The Corporate and other unallocated expenses primarily consist of expenses for corporate overhead functions such as finance, human resources, information technology, facilities and legal; restructuring and related charges; and certain expenses incurred in connection with the management agreements with affiliates of certain shareholders of the Parent.  Although these amounts are excluded from adjusted segment operating income, as applicable, they are included in reported consolidated operating loss and in the reconciliations presented below.  

The Company has an agreement to provide commercialization services to a biopharmaceutical client for launch of certain products in return for a royalty on the client’s net revenues. The results of this arrangement are included in Corporate and other as the contract is managed and evaluated on a corporate level. As these activities were included in the Commercial segment prior to the three months ended September 30, 2015, segment information for the three and six months ended June 30, 2015 has been restated to include these results in Corporate and other and Commercial recognized intersegment revenues related to performing services under this arrangement. The substantial majority of the intersegment sales from Commercial to Corporate and other for both 2015 and 2016 is related to providing services for this arrangement. The amount of costs included in Corporate and other related to this arrangement was $5.7 million and $0.8 million for the three months ended June 30, 2016 and 2015, respectively, and $10.1 million and $1.3 million for the six months ended June 30, 2016 and 2015, respectively.

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Selected information for each reportable segment is as follows (in thousands):

	For the Three Months Ended June 30,						For the Six Months Ended June 30,
	2016			2015			2016			2015
Net Revenues
Clinical	$	259,907		$	233,582		$	514,766		$	453,246
Commercial		305,908			259,462			596,834			494,008
Intersegment revenues		(4,793	)		(3,627	)		(9,282	)		(6,860	)
Consolidated net revenues	$	561,022		$	489,417		$	1,102,318		$	940,394
Adjusted Segment Operating Income (Loss)
Clinical	$	42,802		$	28,469		$	85,538		$	54,118
Commercial		54,028			42,898			102,948			74,777
Corporate and other		(13,661	)		(10,096	)		(25,985	)		(18,994	)
Reportable segments adjusted operating     income (loss)		83,169			61,271			162,501			109,901
Depreciation and amortization		(22,201	)		(23,908	)		(45,964	)		(48,911	)
Stock-based compensation		(1,560	)		(45	)		(2,977	)		(515	)
Other unallocated charges		(6,077	)		(7,686	)		(15,065	)		(13,285	)
Operating income (loss)		53,331			29,632			98,495			47,190
Interest income (expense), net		(54,413	)		(57,120	)		(110,266	)		(113,583	)
Gain on extinguishment of debt		—			—			221			—
Income (loss) before income tax     (provision) benefit and income     (loss) from equity investments	$	(1,082	)	$	(27,488	)	$	(11,550	)	$	(66,393	)

15. Guarantor Financial Information

Borrowings under each of our Senior Secured Credit Facilities, ABL Facility, Senior Secured Notes, Junior Lien Secured Notes and Senior Unsecured Notes are guaranteed by certain of the Company’s domestic wholly-owned subsidiaries (the “Guarantor Subsidiaries”). The guarantees are full and unconditional and joint and several. The Company’s Senior Secured Credit Facility, ABL Facility, Senior Secured Notes, Junior Lien Secured Notes and Senior Unsecured Notes are not guaranteed by certain of the Company’s subsidiaries, including all of its non-U.S. subsidiaries or non-wholly owned subsidiaries. The following supplemental financial information sets forth, on a condensed consolidating basis, balance sheet information, results of operations, comprehensive loss and cash flow information for inVentiv Health, Inc., the Guarantor Subsidiaries and other subsidiaries (the “Non-Guarantor Subsidiaries”). The supplemental financial information reflects the investments of inVentiv Health, Inc.’s investment in the Guarantor Subsidiaries and Non-Guarantor Subsidiaries using the equity method of accounting.

Subsequent to the issuance of the June 30, 2015 condensed consolidated financial statements, management determined that within the condensed consolidating statement of cash flows, certain intercompany transfers historically presented on a gross basis within operating, investing and financing activities represent centralized treasury activities that are more appropriately presented on a net basis within investing and financing activities between the respective parent, guarantor, and non guarantor entities. The aforementioned items have been corrected in the condensed consolidating statements of cash flows for the six months ended June 30, 2015. The corrections had no impact on the Company’s consolidated financial position, results of operations or cash flows.

14

15. Guarantor Financial Information (Continued)

CONDENSED CONSOLIDATING BALANCE SHEET INFORMATION
At June 30, 2016
(in thousands, except share and per share amounts)
	inVentiv			Guarantor		Non-Guarantor
	Health, Inc.			Subsidiaries		Subsidiaries		Eliminations			Total
ASSETS
Current assets:
Cash and cash equivalents	$	74,624		$	—	$	114,186	$	(92,933	)	$	95,877
Restricted cash		946			—		844		—			1,790
Accounts receivable, net of allowances for    doubtful accounts		—			321,872		55,597		—			377,469
Unbilled services		—			206,879		37,192		—			244,071
Intercompany receivables		507,192			859,832		125,857		(1,492,881	)		—
Prepaid expenses and other current assets		5,557			13,642		24,080		—			43,279
Income tax receivable		26			—		1,385		—			1,411
Total current assets		588,345			1,402,225		359,141		(1,585,814	)		763,897
Property and equipment, net		19,354			99,675		19,316		—			138,345
Goodwill		—			855,317		42,124		—			897,441
Intangible assets, net		—			310,381		6,750		—			317,131
Non-current deferred tax assets		—			—		10,341		—			10,341
Other assets		20,365			4,046		15,484		—			39,895
Non-current intercompany receivables		442,077			27,167		—		(469,244	)		—
Investment in consolidated subsidiaries		726,602			111,817		—		(838,419	)		—
Total assets	$	1,796,743		$	2,810,628	$	453,156	$	(2,893,477	)	$	2,167,050
LIABILITIES AND STOCKHOLDER’S DEFICIT
Current liabilities:
Current portion of capital lease obligations and    other financing arrangements	$	457		$	24,174	$	87,145	$	(87,064	)	$	24,712
Accrued payroll, accounts payable and accrued    expenses		94,428			200,337		65,502		(5,870	)		354,397
Intercompany payables		929,017			544,148		19,715		(1,492,880	)		—
Income taxes payable		—			432		5,168		—			5,600
Deferred revenue and client advances		—			181,626		55,507		—			237,133
Total current liabilities		1,023,902			950,717		233,037		(1,585,814	)		621,842
Capital lease obligations, net of current portion		—			47,011		140		—			47,151
Long-term debt, net of current portion		1,551,286			570,275		—		—			2,121,561
Non-current income tax liability		—			4,806		2,764		—			7,570
Deferred tax liability		74			78,155		1,702		—			79,931
Other non-current liabilities		14,269			41,591		24,481		—			80,341
Non-current intercompany liabilities		—			442,071		27,173		(469,244	)		—
Total liabilities		2,589,531			2,134,626		289,297		(2,055,058	)		2,958,396
Total inVentiv Health, Inc. stockholder’s deficit		(792,788	)		676,002		162,417		(838,419	)		(792,788	)
Noncontrolling interest		—			—		1,442		—			1,442
Total stockholder’s deficit		(792,788	)		676,002		163,859		(838,419	)		(791,346	)
Total liabilities and stockholder’s deficit	$	1,796,743		$	2,810,628	$	453,156	$	(2,893,477	)	$	2,167,050

15

15. Guarantor Financial Information (Continued)

CONDENSED CONSOLIDATING BALANCE SHEET INFORMATION

At December 31, 2015

(in thousands, except share and per share amounts)

	inVentiv			Guarantor		Non-Guarantor
	Health, Inc.			Subsidiaries		Subsidiaries		Eliminations			Total
ASSETS
Current assets:
Cash and cash equivalents	$	55,226		$	—	$	148,970	$	(82,879	)	$	121,317
Restricted cash		226			—		1,381		—			1,607
Accounts receivable, net of allowances for    doubtful accounts		—			292,548		66,533		—			359,081
Unbilled services		—			174,070		33,395		—			207,465
Intercompany receivables		529,457			840,499		18,211		(1,388,167	)		—
Prepaid expenses and other current assets		8,839			11,401		22,690		—			42,930
Income tax receivable		104			—		1,076		(104	)		1,076
Total current assets		593,852			1,318,518		292,256		(1,471,150	)		733,476
Property and equipment, net		23,227			101,507		17,298		—			142,032
Goodwill		—			855,317		40,052		—			895,369
Intangible assets, net		—			328,239		6,407		—			334,646
Non-current deferred tax assets		—			—		10,032		—			10,032
Other assets		19,084			4,491		13,559		—			37,134
Non-current intercompany receivables		416,161			29,235		35,021		(480,417	)		—
Investment in consolidated subsidiaries		676,479			93,191		—		(769,670	)		—
Total assets	$	1,728,803		$	2,730,498	$	414,625	$	(2,721,237	)	$	2,152,689
LIABILITIES AND STOCKHOLDER’S DEFICIT
Current liabilities:
Current portion of capital lease obligations and    other financing arrangements	$	1,936		$	21,324	$	73,355	$	(73,282	)	$	23,333
Accrued payroll, accounts payable and accrued    expenses		71,953			200,063		71,307		(9,597	)		333,726
Intercompany payables		820,965			542,500		24,702		(1,388,167	)		—
Income taxes payable		—			165		5,423		(104	)		5,484
Deferred revenue and client advances		—			190,828		55,828		—			246,656
Total current liabilities		894,854			954,880		230,615		(1,471,150	)		609,199
Capital lease obligations, net of current portion		—			45,247		11		—			45,258
Long-term debt, net of current portion		1,533,197			568,688		—		—			2,101,885
Non-current income tax liability		—			4,806		1,136		—			5,942
Deferred tax liability		74			73,047		239		—			73,360
Other non-current liabilities		38,494			30,896		18,763		—			88,153
Non-current intercompany liabilities		34,920			416,260		29,237		(480,417	)		—
Total liabilities		2,501,539			2,093,824		280,001		(1,951,567	)		2,923,797
Total inVentiv Health, Inc. stockholder’s deficit		(772,736	)		636,674		132,996		(769,670	)		(772,736	)
Noncontrolling interest		—			—		1,628		—			1,628
Total stockholder’s deficit		(772,736	)		636,674		134,624		(769,670	)		(771,108	)
Total liabilities and stockholder’s deficit	$	1,728,803		$	2,730,498	$	414,625	$	(2,721,237	)	$	2,152,689

16

15. Guarantor Financial Information (Continued)

CONSOLIDATING STATEMENT OF OPERATIONS
For the Three Months Ended June 30, 2016
(in thousands)
	inVentiv			Guarantor			Non-Guarantor
	Health, Inc.			Subsidiaries			Subsidiaries			Eliminations			Total
Net revenues	$	—		$	432,250		$	137,165		$	(8,393	)	$	561,022
Reimbursed out-of-pocket expenses		—			73,151			9,678			(5	)		82,824
Total revenues		—			505,401			146,843			(8,398	)		643,846
Operating expenses:
Cost of revenues		—			312,576			85,031			(7,872	)		389,735
Reimbursable out-of-pocket expenses		—			73,151			9,678			(5	)		82,824
Selling, general and administrative expenses		16,822			67,336			34,319			(521	)		117,956
Allocation of intercompany costs		(13,898	)		10,921			2,977			—			—
Total operating expenses		2,924			463,984			132,005			(8,398	)		590,515
Operating income (loss)		(2,924	)		41,417			14,838			—			53,331
Gain on extinguishment of debt		—			—			—			—			—
Interest income (expense), net		(42,394	)		(12,209	)		190			—			(54,413	)
Intercompany interest income (expense)		13,369			(13,103	)		(266	)		—			—
Income (loss) before income tax (provision)    benefit and income (loss) from equity    investments		(31,949	)		16,105			14,762			—			(1,082	)
Income tax (provision) benefit		—			(403	)		(2,902	)		—			(3,305	)
Income (loss) before income (loss) from equity    investments		(31,949	)		15,702			11,860			—			(4,387	)
Income (loss) from equity investments		27,475			9,554			—			(37,025	)		4
Net income (loss)		(4,474	)		25,256			11,860			(37,025	)		(4,383	)
Less: Net (income) loss attributable to the    noncontrolling interest		—			—			(91	)		—			(91	)
Net income (loss) attributable to    inVentiv Health, Inc.	$	(4,474	)	$	25,256		$	11,769		$	(37,025	)	$	(4,474	)

17

15. Guarantor Financial Information (Continued)

CONSOLIDATING STATEMENT OF OPERATIONS
For the Three Months Ended June 30, 2015
(in thousands)
	inVentiv			Guarantor			Non-Guarantor
	Health, Inc.			Subsidiaries			Subsidiaries			Eliminations			Total
Net revenues	$	—		$	382,908		$	112,927		$	(6,418	)	$	489,417
Reimbursed out-of-pocket expenses		—			68,450			14,689			(62	)		83,077
Total revenues		—			451,358			127,616			(6,480	)		572,494
Operating expenses:
Cost of revenues		—			255,110			77,005			(5,885	)		326,230
Reimbursable out-of-pocket expenses		—			68,450			14,689			(62	)		83,077
Selling, general and administrative expenses		20,491			80,661			32,936			(533	)		133,555
Allocation of intercompany costs		(9,899	)		7,935			1,964			—			—
Total operating expenses		10,592			412,156			126,594			(6,480	)		542,862
Operating income (loss)		(10,592	)		39,202			1,022			—			29,632
Interest income (expense), net		(45,006	)		(12,279	)		165			—			(57,120	)
Intercompany interest income (expense)		11,801			(11,554	)		(247	)		—			—
Income (loss) before income tax (provision)    benefit and income (loss) from equity    investments		(43,797	)		15,369			940			—			(27,488	)
Income tax (provision) benefit		—			(1,650	)		(1,088	)		—			(2,738	)
Income (loss) before income (loss) from equity    investments		(43,797	)		13,719			(148	)		—			(30,226	)
Income (loss) from equity investments		13,566			(976	)		—			(12,352	)		238
Net income (loss)		(30,231	)		12,743			(148	)		(12,352	)		(29,988	)
Less: Net (income) loss attributable to the    noncontrolling interest		—			—			(243	)		—			(243	)
Net income (loss) attributable to inVentiv    Health, Inc.	$	(30,231	)	$	12,743		$	(391	)	$	(12,352	)	$	(30,231	)

18

15. Guarantor Financial Information (Continued)

CONSOLIDATING STATEMENT OF OPERATIONS
For the Six Months Ended June 30, 2016
(in thousands)
	inVentiv			Guarantor			Non-Guarantor
	Health, Inc.			Subsidiaries			Subsidiaries			Eliminations			Total
Net revenues	$	—		$	851,586		$	267,098		$	(16,366	)	$	1,102,318
Reimbursed out-of-pocket expenses		—			156,969			16,892			(54	)		173,807
Total revenues		—			1,008,555			283,990			(16,420	)		1,276,125
Operating expenses:
Cost of revenues		—			612,968			164,329			(15,186	)		762,111
Reimbursable out-of-pocket expenses		—			156,969			16,892			(54	)		173,807
Selling, general and administrative expenses		37,951			138,705			66,236			(1,180	)		241,712
Allocation of intercompany costs		(27,797	)		21,836			5,961			—			—
Total operating expenses		10,154			930,478			253,418			(16,420	)		1,177,630
Operating income (loss)		(10,154	)		78,077			30,572			—			98,495
Gain on extinguishment of debt		221			—			—			—			221
Interest income (expense), net		(86,225	)		(24,486	)		445			—			(110,266	)
Intercompany interest income (expense)		26,344			(25,818	)		(526	)		—			—
Income (loss) before income tax (provision)    benefit and income (loss) from equity    investments		(69,814	)		27,773			30,491			—			(11,550	)
Income tax (provision) benefit		—			(5,548	)		(5,933	)		—			(11,481	)
Income (loss) before income (loss) from equity    investments		(69,814	)		22,225			24,558			—			(23,031	)
Income (loss) from equity investments		46,263			20,128			—			(66,382	)		9
Net income (loss)		(23,551	)		42,353			24,558			(66,382	)		(23,022	)
Less: Net (income) loss attributable to the    noncontrolling interest		—			—			(529	)		—			(529	)
Net income (loss) attributable to    inVentiv Health, Inc.	$	(23,551	)	$	42,353		$	24,029		$	(66,382	)	$	(23,551	)

19

15. Guarantor Financial Information (Continued)

CONSOLIDATING STATEMENT OF OPERATIONS
For the Six Months Ended June 30, 2015
(in thousands)
	inVentiv			Guarantor			Non-Guarantor
	Health, Inc.			Subsidiaries			Subsidiaries			Eliminations			Total
Net revenues	$	—		$	729,889		$	222,678		$	(12,173	)	$	940,394
Reimbursed out-of-pocket expenses		—			128,066			22,472			(138	)		150,400
Total revenues		—			857,955			245,150			(12,311	)		1,090,794
Operating expenses:
Cost of revenues		—			491,573			146,309			(11,147	)		626,735
Reimbursable out-of-pocket expenses		—			128,066			22,472			(138	)		150,400
Selling, general and administrative expenses		36,578			165,200			65,717			(1,026	)		266,469
Allocation of intercompany costs		(19,799	)		15,879			3,920			—			—
Total operating expenses		16,779			800,718			238,418			(12,311	)		1,043,604
Operating income (loss)		(16,779	)		57,237			6,732			—			47,190
Interest income (expense), net		(89,404	)		(24,448	)		269			—			(113,583	)
Intercompany interest income (expense)		22,923			(22,526	)		(397	)		—			—
Income (loss) before income tax (provision)    benefit and income (loss) from equity    investments		(83,260	)		10,263			6,604			—			(66,393	)
Income tax (provision) benefit		—			(4,625	)		(2,641	)		—			(7,266	)
Income (loss) before income (loss) from equity    investments		(83,260	)		5,638			3,963			—			(73,659	)
Income (loss) from equity investments		7,944			654			—			(9,889	)		(1,291	)
Net income (loss)		(75,316	)		6,292			3,963			(9,889	)		(74,950	)
Less: Net (income) loss attributable to the    noncontrolling interest		—			—			(366	)		—			(366	)
Net income (loss) attributable to inVentiv    Health, Inc.	$	(75,316	)	$	6,292		$	3,597		$	(9,889	)	$	(75,316	)

20

15. Guarantor Financial Information (Continued)

CONSOLIDATING STATEMENT OF COMPREHENSIVE LOSS
For the Three Months Ended June 30, 2016
(in thousands)
	inVentiv			Guarantor			Non-Guarantor
	Health, Inc.			Subsidiaries			Subsidiaries			Eliminations			Total
Net income (loss)	$	(4,474	)	$	25,256		$	11,860		$	(37,025	)	$	(4,383	)
Other comprehensive income (loss):
Foreign currency translation adjustment		(1,560	)		(5,688	)		383			5,305			(1,560	)
Total other comprehensive income (loss)		(1,560	)		(5,688	)		383			5,305			(1,560	)
Total comprehensive income (loss)		(6,034	)		19,568			12,243			(31,720	)		(5,943	)
Less: Comprehensive (income) loss    attributable to the noncontrolling interest		—			—			(91	)		—			(91	)
Total comprehensive income (loss) attributable to    inVentiv Health, Inc.	$	(6,034	)	$	19,568		$	12,152		$	(31,720	)	$	(6,034	)

21

15. Guarantor Financial Information (Continued)

CONSOLIDATING STATEMENT OF COMPREHENSIVE LOSS
For the Three Months Ended June 30, 2015
(in thousands)
	inVentiv			Guarantor		Non-Guarantor
	Health, Inc.			Subsidiaries		Subsidiaries			Eliminations			Total
Net income (loss)	$	(30,231	)	$	12,743	$	(148	)	$	(12,352	)	$	(29,988	)
Other comprehensive income (loss):
Foreign currency translation adjustment		4,218			5,113		2,596			(7,709	)		4,218
Total other comprehensive income (loss)		4,218			5,113		2,596			(7,709	)		4,218
Total comprehensive income (loss)		(26,013	)		17,856		2,448			(20,061	)		(25,770	)
Less: Comprehensive (income) loss    attributable to the noncontrolling interest		—			—		(243	)		—			(243	)
Total comprehensive income (loss) attributable to    inVentiv Health, Inc.	$	(26,013	)	$	17,856	$	2,205		$	(20,061	)	$	(26,013	)

22

15. Guarantor Financial Information (Continued)

CONSOLIDATING STATEMENT OF COMPREHENSIVE LOSS
For the Six Months Ended June 30, 2016
(in thousands)
	inVentiv			Guarantor			Non-Guarantor
	Health, Inc.			Subsidiaries			Subsidiaries			Eliminations			Total
Net income (loss)	$	(23,551	)	$	42,353		$	24,558		$	(66,382	)	$	(23,022	)
Other comprehensive income (loss):
Foreign currency translation adjustment		3,859			(3,026	)		6,502			(3,476	)		3,859
Total other comprehensive income (loss)		3,859			(3,026	)		6,502			(3,476	)		3,859
Total comprehensive income (loss)		(19,692	)		39,327			31,060			(69,858	)		(19,163	)
Less: Comprehensive (income) loss    attributable to the noncontrolling interest		—			—			(529	)		—			(529	)
Total comprehensive income (loss) attributable to    inVentiv Health, Inc.	$	(19,692	)	$	39,327		$	30,531		$	(69,858	)	$	(19,692	)

23

15. Guarantor Financial Information (Continued)

CONSOLIDATING STATEMENT OF COMPREHENSIVE LOSS
For the Six Months Ended June 30, 2015
(in thousands)
	inVentiv			Guarantor			Non-Guarantor
	Health, Inc.			Subsidiaries			Subsidiaries			Eliminations			Total
Net income (loss)	$	(75,316	)	$	6,292		$	3,963		$	(9,889	)	$	(74,950	)
Other comprehensive income (loss):
Foreign currency translation adjustment		(1,227	)		(322	)		(1,415	)		1,737			(1,227	)
Total other comprehensive income (loss)		(1,227	)		(322	)		(1,415	)		1,737			(1,227	)
Total comprehensive income (loss)		(76,543	)		5,970			2,548			(8,152	)		(76,177	)
Less: Comprehensive (income) loss    attributable to the noncontrolling interest		—			—			(366	)		—			(366	)
Total comprehensive income (loss) attributable to    inVentiv Health, Inc.	$	(76,543	)	$	5,970		$	2,182		$	(8,152	)	$	(76,543	)

24

15. Guarantor Financial Information (Continued)

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
For the Six Months Ended June 30, 2016
(in thousands)
	inVentiv			Guarantor			Non-Guarantor
	Health, Inc.			Subsidiaries			Subsidiaries			Eliminations			Total
Cash flows from operating activities:
Net cash provided by (used in) operating    activities	$	(67,876	)	$	61,218		$	37,813		$	(5,873	)	$	25,282
Cash flows from investing activities:
Purchases of property and equipment		(2,464	)		(4,648	)		(5,505	)		—			(12,617	)
Proceeds from vehicle sales and rebates on    vehicle leases		—			8,320			—			—			8,320
Intercompany transfers		117,196			20,386			—			(137,582	)		—
Other, net		(720	)		—			472			—			(248	)
Net cash provided by (used in) investing activities		114,012			24,058			(5,033	)		(137,582	)		(4,545	)
Cash flows from financing activities:
Repayments on capital leases and other    financing arrangements		(1,942	)		(18,495	)		125			—			(20,312	)
Repurchase of Notes		(22,790	)		—			—			—			(22,790	)
Payment on installment note and contingent    consideration related to acquisition		(2,322	)		—			—			—			(2,322	)
Intercompany transfers		—			(66,781	)		(66,620	)		133,401			—
Payments to parent		(173	)		—			—			—			(173	)
Other, net		489			—			(715	)		—			(226	)
Net cash provided by (used in) financing activities		(26,738	)		(85,276	)		(67,210	)		133,401			(45,823	)
Effects of foreign currency exchange rate changes    on cash		—			—			(354	)		—			(354	)
Net increase (decrease) in cash and cash    equivalents		19,398			—			(34,784	)		(10,054	)		(25,440	)
Cash and cash equivalents, beginning of period		55,226			—			148,970			(82,879	)		121,317
Cash and cash equivalents, end of period	$	74,624		$	—		$	114,186		$	(92,933	)	$	95,877

25

15. Guarantor Financial Information (Continued)

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
For the Six Months Ended June 30, 2015
(in thousands)
	inVentiv			Guarantor			Non-Guarantor
	Health, Inc.			Subsidiaries			Subsidiaries			Eliminations			Total
Cash flows from operating activities:
Net cash provided by (used in) operating    activities	$	(81,925	)	$	99,468		$	12,189		$	(4,925	)	$	24,807
Cash flows from investing activities:
Purchases of property and equipment		(6,599	)		(10,285	)		(2,924	)		—			(19,808	)
Proceeds from vehicle sales and rebates on    vehicle leases		—			6,826			—			—			6,826
Intercompany transfers		107,905			27,120			—			(135,025	)		—
Other, net		(32	)		—			—			—			(32	)
Net cash provided by (used in) investing activities		101,274			23,661			(2,924	)		(135,025	)		(13,014	)
Cash flows from financing activities:
Repayments on capital leases and other    financing arrangements		(1,965	)		(12,726	)		(252	)		—			(14,943	)
Borrowings under line of credit		153,000			—			—						153,000
Repayments on line of credit		(153,000	)		—			—			—			(153,000	)
Payment on installment note and contingent    consideration related to acquisition		(2,082	)		—			—			—			(2,082	)
Intercompany transfers		—			(113,842	)		14,263			99,579			—
Other, net		38			—			(508	)		—			(470	)
Net cash provided by (used in) financing activities		(4,009	)		(126,568	)		13,503			99,579			(17,495	)
Effects of foreign currency exchange rate changes    on cash		—			—			238			—			238
Net increase (decrease) in cash and cash    equivalents		15,340			(3,439	)		23,006			(40,371	)		(5,464	)
Cash and cash equivalents, beginning of period		19,643			3,439			86,014			(52,037	)		57,059
Cash and cash equivalents, end of period	$	34,983		$	—		$	109,020		$	(92,408	)	$	51,595

16.Subsequent Events

The Company’s Board of Directors approved a 10.8-for-1 split of the Company’s common stock that was

effected July 29, 2016. All share and per share data shown in the accompanying condensed consolidated financial statements and notes have been revised to retrospectively reflect the stock split.

26

ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

You should read the following discussion and analysis of our financial condition and results of operations together with the consolidated financial statements and the related notes included elsewhere in this Quarterly Report on Form 10-Q and with “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and our audited consolidated financial statements and the related notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2015. The following discussion and analysis of our financial condition and results of operations contains forward-looking statements and involves numerous risks and uncertainties, including, but not limited to, those described in this Quarterly Report. Actual results may differ materially from those contained in any forward-looking statement. The terms “inVentiv,” “Company,” “we,” “us” and “our” refer to inVentiv Health, Inc. and its consolidated subsidiaries.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING DISCLOSURE

This Quarterly Report on Form 10-Q contains forward-looking statements that are subject to risks and uncertainties. All statements other than statements of historical fact or relating to present facts or current conditions included in this Quarterly Report are forward-looking statements. Forward-looking statements give our current expectations and projections relating to our financial condition, results of operations, plans, objectives, future performance and business. You can identify forward-looking statements by the fact that they do not relate strictly to historical or current facts. These statements may include words such as “anticipate,” “estimate,” “expect,” “project,” “target,” “plan,” “intend,” “believe,” “may,” “should,” “can have,” “likely” and other words and terms of similar meaning in connection with any discussion of the timing or nature of future operating or financial performance or other events. Examples, though the absence of these words does not necessarily mean that a statement is not forward-looking, include, but are not limited to statements we make regarding:

• our business strategy, outlook, objectives, plans, intentions and goals, and our estimates of market size, market growth, market penetration and market share;

• our estimates regarding our liquidity, capital expenditures and sources of both, our ability to maintain and improve our operating margins and our ability to fund our operations and planned capital expenditures for the foreseeable future;

• our belief that our growth and success may depend on our ability to continue to enhance the quality of our existing services, serve our clients throughout the evolution of a product, and to introduce new services on a timely and cost-effective basis, integrate new services with existing services, increase penetration with existing and new clients and recruit, motivate and retain qualified personnel;

• our expectations that biopharmaceutical companies may increasingly outsource their clinical development and commercialization services;

• our belief that our clients are looking for service providers with scale and global capabilities;

• our expectations regarding our pursuit of additional debt or equity sources to finance our internal growth initiatives or acquisitions;

• our expectations regarding the levels of research and development (“R&D”) and commercialization spending and outsourcing by biopharmaceutical companies; and

• our expectations regarding the impact of the adoption of new accounting pronouncements.

These forward-looking statements reflect our current views about future events and are subject to risks, uncertainties and assumptions. We caution readers that certain important factors may have affected and could in the future affect our actual results and could cause actual results to differ significantly from those expressed in any forward-looking statement and such forward-looking statements should not be unduly relied upon. Factors that could prevent us from achieving our goals, and cause the assumptions underlying forward-looking statements and the actual results to differ materially from those expressed in or implied by those forward-looking statements include, but are not limited to, the following:

• the impact of client project delays, cancellations and terminations, including the impact on our backlog;

• the failure to convert backlog into net revenues;

• our ability to accurately price our contracts and forecast costs;

• our ability to achieve operational efficiencies or grow our net revenues faster than expenses;

• the risks related to our relationships with existing or potential clients who are in competition with each other;

• our ability to recruit suitable willing investigators and patients for clinical trials;

27

• our ability to maintain insurance coverage for our operations and indemnification obligations;

• the impact of a loss of our access to certain data assets;

• the potential liability associated with injury to clinical trial participants;

• the risk of client concentration or concentration in therapeutic areas;

• our ability to successfully develop and market new services and enter new markets;

• the potential impact of financial, economic, political and other risks related to conducting business internationally;

• our exposure to liability under the United States Foreign Corrupt Practices Act (the “FCPA”) and various other anti-corruption and anti-bribery laws;

• the risks associated with our information systems infrastructure;

• the risks associated with upgrading our information systems and evolving the technology platform for our services;

• our ability to recruit, motivate and retain qualified personnel;

• the impact of disruptions in the credit and capital markets and unfavorable economic conditions;

• the risks associated with our acquisition strategy and integrating acquisitions;

• the impact of any downgrade in our current credit ratings;

• the risks associated with exchange rate fluctuations;

• the risks associated with the restructuring of our operations;

• risks associated with employment liability;

• our limited ability to protect our intellectual property rights and the intellectual property rights of our clients;

• our failure to manage any business expansion or contraction in the future;

• the risks associated with effective income tax rate fluctuation and other tax matters;

• potential impairment of goodwill or other intangible assets;

• the risk of litigation and personal injury claims;

• our reliance on third parties for important products and services;

• our ability to comply with all applicable laws as well as our ability to successfully adapt to any changes in applicable laws;

• our history of losses and our ability to achieve and sustain profitability in the future;

• changes in outsourcing expenditures for clinical development and commercialization services by companies in the biopharmaceutical industry;

• the impact of government regulators or clients limiting a prescription’s scope or withdrawing an approved product from the market;

• the potential impact of healthcare reform initiatives or from changes in the reimbursement policies of third-party payers;

• competition in the markets we serve, which may result in pricing pressure;

• the impact on our clients of lower cost generic and other competing products;

• the impact of costs, liability and reputational harm from failing to perform our services in accordance with contractual requirements, regulatory standards and ethical considerations;

• our ability to respond to rapid technological changes;

• the potential impact of government regulation on us and our clients;

• the risks associated with an industry-wide reduction in demand for contract research organizations (“CROs”) services;

• the impact of regulations regarding the protection of personal data;

• the effect of covenant restrictions in our debt agreements on our ability to operate our business; and

• our ability to service our substantial indebtedness.

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These risks should be considered along with the “Risk Factors” outlined in our Annual Report on Form 10-K for the year ended December 31, 2015 dated March 18, 2016 and those included in Part II Item 1A of this Quarterly Report. Except to the extent required by applicable laws or rules, we do not undertake to update any forward-looking statements or to publicly announce revisions to any of the forward-looking statements, whether as a result of new information, future events or otherwise.

Overview

We are a leading global provider of outsourced clinical development and commercialization services to biopharmaceutical companies. We are the only provider delivering a full suite of services to enhance our clients’ ability to successfully develop, launch and market their products. We offer our services on both a standalone basis and as integrated solutions to support clinical development and commercialization. Our solutions are designed to drive greater efficiency and lower costs. We helped develop or commercialize over 80% of all new molecular entities approved by the Food and Drug Administration (“FDA”) and 70% of those products granted marketing authorization by the European Medicines Agency (“EMA”) over the last five years through our innovative model. In 2015, we served more than 550 client organizations, including all 20 of the largest global biopharmaceutical companies, and have the ability to service clients in over 90 countries. We have over 15,000 employees globally, including more than 750 M.D.s and Ph.D.s.

The creation of our comprehensive and integrated approach to serve the biopharmaceutical development and commercialization continuum began in 2010 whenwewere acquiredby affiliatesof THL,certainco-investors and membersof management(the “Investors”). We have made substantial investments, strategic acquisitions and operational changes to expand and strengthen our clinical development and commercial service offerings, geographic presence, human capital, systems and infrastructure to better serve our clients. These strategic and operational initiatives included:

• Completion and integration of 10 strategic acquisitions, including three CROs, to offer a full suite of services on a global basis;

• Enhancement of therapeutic area focus with particular expertise in oncology, neuroscience, pain and respiratory;

• Integration and rationalization of legacy commercial acquisitions and separately-operated brands into the biopharmaceutical industry’s only contract commercial organization (“CCO”) providing a full suite of complementary commercialization services;

• Expansion of our geographic capabilities in Japan, India, Western Europe, Latin America and China;

• Evolution of our selling solutions capabilities into a market-leading strategic offering with expertise in helping clients launch and market complex biopharmaceutical products; and

• Recruitment of Michael A. Bell, our Chairman and CEO who has extensive experience across the healthcare delivery continuum and who has managed and grown sophisticated global service organizations.

We have actively pursued the integration of our acquisitions and sought cost savings or synergies from combining our existing and acquired businesses. These synergies include elimination of redundant facilities, functions and employees and use of our existing infrastructure to expand revenues associated with our service offerings.

Business Segments

We provide services through the following segments, each of which provides multiple service offerings.

• Clinical. Our Clinical segment is a leading global CRO that is therapeutically-focused and provides a wide range of capabilities, including Phase I-IV clinical development services, delivered on a project, functional or hybrid basis. For the three months ended June 30, 2016 and 2015, our Clinical segment generated total net revenues of $259.9 million and $233.6 million, respectively, representing approximately 46% and 47%, respectively, of our consolidated net revenues. For the six months ended June 30, 2016 and 2015, our Clinical segment generated total net revenues of $514.8 million and $453.3 million, respectively, representing approximately 46% and 48%, respectively, of our consolidated net revenues.

• Commercial. Our Commercial segment is a CCO, the biopharmaceutical industry’s only provider of a full suite of complementary commercialization services including selling solutions, communications, consulting and medication adherence (patient outcomes). For the three months ended June 30, 2016 and 2015, our Commercial segment generated total net revenues of $305.9 million and $259.5 million, respectively, representing approximately 54% and 53%, respectively, of our consolidated net revenues. For the six months ended June 30, 2016 and 2015, our Commercial segment generated total net revenues of $596.8 million and $494.0 million, respectively, representing approximately 54% and 52%, respectively, of our consolidated net revenues.

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Material Trends Affecting our Results of Operations

Biopharmaceutical Industry Trends

Our business is affected by general levels of R&D and commercialization spending by biopharmaceutical companies, as well as the degree to which biopharmaceutical companies choose to outsource their clinical development and commercialization activities, rather than performing such activities internally.

We estimate that total R&D spending in the biopharmaceutical industry was approximately $140 billion in 2015. Potential outsourcing development spending accounted for approximately 70%, or $100 billion, and is estimated to grow approximately 4% annually through 2020.

We estimate that total clinical development outsourcing to CROs in 2015 was approximately 30% of total potential outsourcing development spending, representing an approximately $30 billion market. This market is expected to achieve approximately 40% penetration, or approximately $55 billion of spending, by 2020. Because the market for product commercialization services is more diverse, it is difficult to estimate the current amount of outsourced product commercialization services and the expected growth in such services. However, we estimate that less than 15% of product commercialization expenditures are currently being outsourced. As business models continue to evolve in the healthcare sector, we believe that the rate of commercial outsourcing could follow a similar path to the clinical development market.

  If outsourced clinical development or commercialization declines or grows less rapidly than anticipated, or we are unable to compete in these markets successfully, it could have a material adverse effect on our results of operations and financial condition. See “Risk Factors—RisksRelatedto Our Business”and “Risk Factors— Risks Relatedto Our Industry” in our Quarterly Report on Form 10-Q for the quarter ended March 31, 2016.

The Number, Type and Timing of Projects

          In both of our segments, our client relationships are typically comprised of numerous services and projects and our results are tied to the number, type and timing of projects that we manage. The timing of project starts and completions are subject to various factors, including regulatory approvals, interim analysis of project results and success, and client budget cycles. Our full service offering in our Clinical segment is subject to regular project delays and cancellations due to interim client results or client budget reprioritizations, which can adversely affect our results of operations. Within our Commercial segment, project start delays, downsizings and cancellations, particularly within our selling solutions and communications service offerings, can adversely affect our results of operations. While there are operational steps we can take to mitigate our operating expenses in the event a project is delayed or terminated, these steps may not be sufficient to offset the resultant effect on our results of operations.

Exchange Rate Fluctuations

Some of our agreements with our clients provide for payment in currencies other than the U.S. Dollar. We have significant transactions in Pound Sterling, Canadian Dollar and Japanese Yen. These foreign currency revenues when converted into U.S. Dollars, can vary significantly from period to period depending on the exchange rates during a respective period. We believe that comparing these foreign currency denominated revenues, by holding the exchange rates constant with the prior year period is useful to management and investors in evaluating the performance of our ongoing operations on a period-to-period basis. We anticipate that fluctuations in foreign exchange rates and these related constant currency adjustments will continue to occur in future periods.

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We believe that the non-GAAP adjustments to calculate revenue on a constant currency basis assists investors in making comparisons of period-to-period operating results by explaining changes in revenue associated with movement in currency . A reconciliation of net revenues, the most directly comparable GAAP measure, to constant currency net revenues for the periods presented is indicated as follows:

	For the Three Months Ended June 30,					For the Six Months Ended June 30,
(in millions)	2016			2015		2016			2015
Consolidated net revenues	$	561.0		$	489.4	$	1,102.3		$	940.4
Currency adjustments		5.4			—		12.0			—
Constant currency consolidated      net revenues	$	566.4		$	489.4	$	1,114.3		$	940.4
Clinical net revenues	$	259.9		$	233.6	$	514.8		$	453.3
Currency adjustments		6.2			—		12.5			—
Constant currency Clinical net revenues	$	266.1		$	233.6	$	527.3		$	453.3
Commercial net revenues	$	305.9		$	259.5	$	596.8		$	494.0
Currency adjustments		(0.8	)		—		(0.5	)		—
Constant currency Commercial      net revenues	$	305.1		$	259.5	$	596.3		$	494.0

(1) The three and six months ended June 30, 2015 are the base periods for June 30, 2016 constant currency net revenues. Because the threeand six monthsended June 30, 2015 are the base periodsfor June 30, 2016 constant currencynet revenues,currencyadjustmentsfor the threeand six monthsended June 30, 2015 are not applicable.

We have translated our foreign currency net revenues into U.S. Dollars using the following average exchange rates:

	For the Three Months Ended June 30,		For the Six Months Ended June 30,
U.S. Dollars per:	2016	2015	2016		2015
Pound Sterling	1.43	1.53	1.43		1.52
Canadian Dollar	0.78	0.81	0.75		0.81
Japanese Yen	0.0093	0.0082		0.0090	0.0083

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Results of Continuing Operations

        The following tables set forth our consolidated statements of operations and certain segment data in dollars and as a percentage of net revenues for the periods presented.

	For the Three Months Ended June 30,														For the Six Months Ended June 30,
(in millions, except percentages)	2016			% of Net Revenues				2015			% of Net Revenues				2016			% of Net Revenues				2015			% of Net Revenues
Statement of Operations Data:
Net revenues	$	561.0			100.0		%	$	489.4			100.0		%	$	1,102.3			100.0		%	$	940.4			100.0		%
Reimbursed out-of-pocket expenses		82.8			14.8		%		83.1			17.0		%		173.8			15.8		%		150.4			16.0		%
Total revenues		643.8			114.8		%		572.5			117.0		%		1,276.1			115.8		%		1,090.8			116.0		%
Operating expenses:
Cost of revenues		389.7			69.5		%		326.2			66.7		%		762.1			69.1		%		626.7			66.6		%
Reimbursable out-of-pocket expenses		82.8			14.8		%		83.1			16.9		%		173.8			15.8		%		150.4			16.0		%
Selling, general and administrative expenses		118.0			21.0		%		133.6			27.3		%		241.7			21.9		%		266.5			28.3		%
Total operating expenses		590.5			105.3		%		542.9			110.9		%		1,177.6			106.8		%		1,043.6			110.9		%
Operating income (loss)		53.3			9.5		%		29.6			6.1		%		98.5			9.0		%		47.2			5.1		%
Gain on extinguishment of debt	—			—					—			—				0.2		—					—			—
Interest expense		(54.6	)		(9.7	)	%		(57.1	)		(11.7	)	%		(110.5	)		(10.0	)	%		(113.6	)		(12.1	)	%
Interest income		0.2		—				—				—				0.3		—					—			—
Income (loss) before income tax (provision) benefit    and income (loss) from equity investments		(1.1	)		(0.2	)	%		(27.5	)		(5.6	)	%		(11.5	)		(1.0	)	%		(66.4	)		(7.0	)	%
Income tax (provision) benefit		(3.3	)		(0.6	)	%		(2.7	)		(0.6	)	%		(11.5	)		(1.1	)	%		(7.3	)		(0.8	)	%
Income (loss) before income (loss) from    equity investments		(4.4	)		(0.8	)	%		(30.2	)		(6.2	)	%		(23.0	)		(2.1	)	%		(73.7	)		(7.8	)	%
Income (loss) from equity investments	—			—					0.2			—			—			—					(1.3	)		(0.2	)	%
Net Income (loss)		(4.4	)		(0.8	)	%		(30.0	)		(6.2	)	%		(23.0	)		(2.1	)	%		(75.0	)		(8.0	)	%
Less: Net (income) loss attributable to the     noncontrolling interest		(0.1	)	—					(0.2	)		—				(0.6	)	—					(0.3	)		—
Net income (loss) attributable to inVentiv Health, Inc.	$	(4.5	)		(0.8	)	%	$	(30.2	)		(6.2	)	%	$	(23.6	)		(2.1	)	%	$	(75.3	)		(8.0	)	%
Segment Data:
Net revenues:
Clinical	$	259.9			45.9		%	$	233.6			47.4		%	$	514.8			46.3		%	$	453.3			47.9		%
Commercial		305.9			54.1		%		259.5			52.6		%		596.8			53.7		%		494.0			52.1		%
Cost of revenues:
Clinical		171.8			66.1		%		155.0			66.4		%		338.1			65.7		%		298.7			65.9		%
Commercial		216.7			70.8		%		173.4			66.8		%		422.7			70.8		%		332.2			67.2		%
Corporate and other		5.7		—					0.8		—					10.1		—					1.3		—
SG&A:
Clinical		53.9			20.7		%		61.0			26.1		%		113.0			22.0		%		122.3			27.0		%
Commercial		51.4			16.8		%		59.6			23.0		%		101.7			17.0		%		119.9			24.3		%
Corporate and other		12.7			2.3		%		13.0			2.7		%		27.0			2.4		%		24.3			2.6		%

Three Months Ended June 30, 2016 Compared to the Three Months Ended June 30, 2015

Net revenues

	For the Three Months Ended June 30,												Change
(in millions, except percentages)	2016			% of Total			2015			% of Total			$			%
Net revenues:
Clinical	$	259.9			45.9	%	$	233.6			47.4	%	$	26.3			11.3	%
Commercial		305.9			54.1	%		259.5			52.6	%		46.4			17.9	%
Intersegment eliminations		(4.8	)	—				(3.7	)	—				(1.1	)	—
Net revenues	$	561.0			100.0	%	$	489.4			100.0	%	$	71.6			14.6	%

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Net revenues increased approximately $71.6 million or 14.6% (15.7% on a constant currency basis), to $561.0 million for the three months ended June 30, 2016 from $489.4 million for the three months ended June 30, 2015, due to an increase in net revenues in both our Clinical and Commercial segments. Foreign currency exchange rate fluctuations computed on a constant currency basis reduced net revenues by approximately $5.4 million for the three months ended June 30, 2016.

Net revenues in our Clinical segment increased approximately $26.3 million or 11.3% (13.9% on a constant currency basis), to $259.9 million for the three months ended June 30, 2016 from $233.6 million for the three months ended June 30, 2015. This increase was primarily attributable to increased volume from new projects and the acceleration of conversion of backlog in our full service offering, including a $6.0 million increase from the impact of approved change orders on net revenues for the three months ended June 30, 2016 compared to the three months ended June 30, 2015. Foreign currency exchange rate fluctuations computed on a constant currency basis reduced net revenues by approximately $6.2 million for the three months ended June 30, 2016 as compared to the prior year.

Net revenues in our Commercial segment increased approximately $46.4 million or 17.9% (17.6% on a constant currency basis), to $305.9 million for the three months ended June 30, 2016 from $259.5 million for the three months ended June 30, 2015. The increasewas primarilyattributableto $51.0 millionof growth in our sellingsolutionsoffering,the largestofferingin our Commercialsegmentmeasuredby net revenues,as a resultof newprojectwins and fewer project cancellations in the United States, including a $2.1 million increase in client incentive fees. In addition, $3.0 millionof growth in revenues was recognized in our communicationsoffering.Project cancellationsand downsizingsin our sellingsolutionsofferingreducednet revenueson a comparativebasisby approximately$12.8 millionfor the threemonthsended June 30, 2016 relativeto the threemonthsended June 30, 2015, and occurredfor variousreasons,including,but not limitedto, a de-emphasison particular projects,a change in outsourcingor marketingstrategy,productperformanceand budget considerationsamong certainof our clients. The growth in our sellingsolutionsand communicationsofferingswas partiallyoffsetby a $6.2 milliondecreasein our medicationadherenceofferingprimarilydue to the saleof our patientaccessand reimbursementservicesofferingin August 2015, and lower volumein our consultingoffering.Foreign currency exchange rate fluctuations computed on a constant currency basis resulted in an increase of approximately $0.8 million in net revenues for the three months ended June 30, 2016.

The substantial majority of the intersegment eliminations from Commercial to Corporate and other for both 2015 and 2016 is related to an agreement to provide commercialization services to a biopharmaceutical client for launch of certain specified products in return for a royalty on the client’s net revenues for such products.

Cost of revenues

	For the Three Months Ended June 30,												Change						Gross Margin
				% of Net						% of Net
(in millions, except percentages)	2016			Revenues			2015			Revenues			$			%			2016			2015
Cost of revenues:
Clinical	$	171.8			66.1	%	$	155.0			66.4	%	$	16.8			10.8	%		33.9	%		33.6	%
Commercial		216.7			70.8	%		173.4			66.8	%		43.3			25.0	%		29.2	%		33.2	%
Corporate and other		5.7		—				0.8		—				4.9			612.5	%	—			—
Intersegment eliminations		(4.5	)	—				(3.0	)	—				(1.5	)	—			—			—
Cost of revenues	$	389.7			69.5	%	$	326.2			66.7	%	$	63.5			19.5	%		30.5	%		33.3	%

Cost of revenues increased $63.5 million, or 19.5%, to $389.7 million for the three months ended June 30, 2016 from $326.2 million for the three months ended June 30, 2015, due to volume increases in our Clinical and Commercial segments. Gross margin decreased to 30.5% for the three months ended June 30, 2016 compared to 33.3% for the three months ended June 30, 2015, largely due to a shift in the mix of projects to lower gross margin projects in our Commercial segment.

Cost of revenues in our Clinical segment increased $16.8 million, or 10.8%, to $171.8 million for the three months ended June 30, 2016 from $155.0 million for the three months ended June 30, 2015. The increase primarily reflected the cost of incremental resources to deliver against higher volumes in our full service offering. Despite the increased cost of revenues, the higher volumes in our full service offering for the three months ended June 30, 2016 resulted in a slight improvement in gross margin to 33.9% compared to 33.6% for the three months ended June 30, 2015.

Cost of revenues in our Commercial segment increased $43.3 million, or 25.0%, to $216.7 million for the three months ended June 30, 2016 from $173.4 million for the three months ended June 30, 2015. The increasewas primarilydue to a highervolumeof projectsin our sellingsolutionsofferingwhich resultedin $41.5 millionof additional costs, and a $3.9 million increase in our communications offering, partiallyoffsetby decreasedcostsof $1.4 millionin our medicationadherenceofferingdue primarilyto the saleof our patient access and reimbursement services offeringin August 2015. Gross margin in this segment

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decreased to 29.2% for the three months ended June 30, 2016 from 33.2% for the three months ended June 30, 2015 largelydue to an increasein projectsin our sellingsolutionsofferingwhich generallyhave lower gross marginsrelativeto otherofferingsin the segment. Projectcancellationsanddownsizings in our sellingsolutionsofferingreduced gross margin by approximately $2.2 million for the three months ended June 30, 2016 compared to the three months ended June 30, 2015.

Corporate and other cost of revenues increased as a result of costs incurred in connection with an agreement to provide commercialization services to a biopharmaceutical client for launch of certain specified products in return for a royalty on the client’s net revenues for such products.

Selling, General and Administrative (SG&A) Expenses

	For the Three Months Ended June 30,										Change
			% of Net					% of Net
(in millions, except percentages)	2016		Revenues			2015		Revenues			$			%
SG&A:
Clinical	$	53.9		20.7	%	$	61.0		26.1	%	$	(7.1	)		(11.6	)	%
Commercial		51.4		16.8	%		59.6		23.0	%		(8.2	)		(13.8	)	%
Corporate and other		12.7		2.3	%		13.0		2.7	%		(0.3	)		(2.3	)	%
Total SG&A	$	118.0		21.0	%	$	133.6		27.3	%	$	(15.6	)		(11.7	)	%

SG&A expenses decreased $15.6 million, or 11.7%, to $118.0 million for the three months ended June 30, 2016from $133.6 million for the three months ended June 30, 2015, due to decreased SG&A expenses in our Clinical and Commercial segments and Corporate and other.

SG&A expenses in our Clinical segment decreased $7.1 million, or 11.6%, to $53.9 million for the three months ended June 30, 2016 from $61.0 million for the three months ended June 30, 2015. The decreasewas primarilydue to realizedbenefitsof our efficiencyinitiatives,includinga $2.9 milliondecreasein compensation relatedcosts, a $1.6 milliondecreasein depreciationand amortization and $1.6 millionof favorableforeign currencyimpacts and otherinsignificantfactors. Non-cash amortization expense related to finite-lived intangible assets was $6.1 million for the three months ended June 30, 2016 compared to $7.0 million for the three months ended June 30, 2015, with the decrease primarily a result of certain assets with a shorter estimated useful life becoming fully amortized.

SG&A expenses in our Commercial segment decreased $8.2 million, or 13.8%, to $51.4 million for the three months ended June 30, 2016 from $59.6 million for the three months ended June 30, 2015. The decreasein SG&Afor our Commercialsegmentwas primarilydue to a $2.8 milliondecreasein depreciationand amortization,a $2.1 milliondecreasein compensation relatedcosts,a $2.1 milliondecreasein information technologyinvestmentsand professionalservicefees, a $1.6 milliondecreasein our medicationadherenceofferingprimarilydue to the saleof our patientaccessand reimbursementservicesofferingin August 2015and otherinsignificantfactors, partially offset by an increase of $3.0 million in restructuring costs. Non-cash amortization expense related to finite-lived intangible assets was $3.0 million for the three months ended June 30, 2016 compared to $5.5 million for the three months ended June 30, 2015, with the decrease primarily a result of certain assets with a shorter estimated useful life becoming fully amortized.

Corporate and other SG&A expenses decreased $0.3 million, or 2.3%, to $12.7 million for the three months ended June 30, 2016from $13.0 million for the three months ended June 30, 2015. The decrease was primarily due to a $2.8 milliondecreasein compensation relatedcosts and $1.7 millionof favorableforeign currencyimpacts, partially offset by an increase of $2.7 million in professionalservicefees, including transaction-related costs and otherinsignificantfactors.

Interest Expense, Net

	For the Three Months Ended June 30,
(in millions)	2016		2015
Interest expense, net	$	54.4	$	57.1

Interest expense, net decreased $2.7 million to $54.4 million for the three months ended June 30, 2016 from $57.1 million for the three months ended June 30, 2015. The interest expense reflects a decrease for the three months ended June 30, 2016 compared to the three months ended June 30, 2015 due to a decrease of $1.7 million of interest on the Junior Lien Secured Notes, which is attributable to both the PIK Note Repurchase (see defined below) and the cash rate election commencing February 15, 2016, and

34

elimination of penalty interest on the Senior Unsecured Notes described below.  Interest expense included non-cash debt issuance costs and bond discount/premium amortization of $4.8 million and $4.7 million, for the three months ended June 30, 2016 and 2015, respectively, and penalty interest on the Senior Unsecured Notes of $0.9 million for the three months ended June 30, 2015. There was no penalty interest on the Senior Unsecured Notes for the three months ended June 30, 2016 as a result of the effectiveness of the registration statement with the Securities and Exchange Commission (the “SEC”) relating to the Senior Unsecured Notes under the Securities Act and completion of the subsequent exchange offer for the Senior Unsecured Notes.

(Provision) Benefit for Income Taxes

	For the Three Months Ended June 30,
				Effective							Effective
(in millions, except percentages)	2016			Tax Rate				2015			Tax Rate
(Provision) benefit for income taxes	$	(3.3	)		(305.5	)	%	$	(2.7	)		(10.0	)	%

          We account for income taxes at each interim period using our estimated annual effective tax rate. Discrete items and changes in the estimate of the annual effective tax rate are recorded in the period they occur. The consolidated effective tax rate was (305.5%) and (10.0%) for the three months ended June 30, 2016 and 2015, respectively. The mix of earnings between domestic and foreign and the lower level of consolidated loss, along with a higher level of foreign earnings in 2016 compared to prior year, drove the increase in the tax provision and respective effective tax rate for the three months ended June 30, 2016 as compared to the three months ended June 30, 2015. The income tax provision for the three months ended June 30, 2016 and 2015 primarily reflects that we (i) continued to record a full valuation allowance for our domestic and certain foreign tax jurisdictions, (ii) recorded a tax provision for certain foreign and state jurisdictions that generated earnings, (iii) incurred a deferred tax provision in our domestic jurisdiction arising from taxable temporary differences related to amortization of indefinite-lived intangible assets and goodwill, and (iv) recorded changes in unrecognized tax benefits (including related penalties and interest) as they occur. The tax provisionfor the threemonthsended June 30, 2016 and 2015 included$2.9 millionand $1.1 millionof foreigntaxes,$0.0 millionand $(0.3) millionof statetaxes,$0.3 millionand $1.8 millionof taxabletemporarydifferencesfromamortizationof indefinite-livedintangibleassetsand goodwill and a $0.1 millionand $0.1 millionincreasein unrecognizedtax benefits,respectively.

We provide for a valuation allowance to reduce deferred tax assets to their estimated realizable value if, based on the weight of all available evidence, it is not more likely than not that a portion or all of the deferred tax assets will be realized. We do not expect to record significant tax benefits on future domestic net operating losses until circumstances justify the recognition of such benefits.

As a result of the domestic valuation allowance, taxable temporary differences from the amortization of goodwill and indefinite-lived intangible assets are expected to result in $8.5 million of income tax expense for 2016, and are reflected in our estimated domestic annual effective tax rate. Goodwill and indefinite-lived intangible assets are amortized for income tax purposes, but not for financial statement reporting purposes. This difference results in net deferred income tax expense since the taxable temporary difference cannot be scheduled to reverse during the loss carryforward period. We will record tax expense related to the amortization of our tax deductible goodwill and indefinite-lived intangible assets during those future periods for which we maintain domestic valuation allowances, or until our estimated unamortized balance of $111.4 million at December 31, 2016 is fully amortized for tax purposes.

Six Months Ended June 30, 2016 Compared to the Six Months Ended June 30, 2015

Net revenues

	For the Six Months Ended June 30,												Change
(in millions, except percentages)	2016			% of Total			2015			% of Total			$			%
Net revenues:
Clinical	$	514.8			46.3	%	$	453.3			47.9	%	$	61.5			13.6	%
Commercial		596.8			53.7	%		494.0			52.1	%		102.8			20.8	%
Intersegment eliminations		(9.3	)	—				(6.9	)	—				(2.4	)	—
Net revenues	$	1,102.3			100.0	%	$	940.4			100.0	%	$	161.9			17.2	%

Net revenues increased approximately $161.9 million or 17.2% (18.5% on a constant currency basis), to $1,102.3 million for the six months ended June 30, 2016 from $940.4 million for the six months ended June 30, 2015, due to an increase in net revenues in both our Clinical and Commercial segments. Foreign currency exchange rate fluctuations computed on a constant currency basis reduced net revenues by approximately $12.0 million for the six months ended June 30, 2016.

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Net revenues in our Clinical segment increased approximately $61.5 million or 13.6% (16.3% on a constant currency basis), to $514.8 million for the six months ended June 30, 2016 from $453.3 million for the six months ended June 30, 2015. This increase was primarily attributable to increased volume from new projects and the acceleration of conversion of backlog in our full service offering, including a $5.5 million increase from the impact of approved change orders on net revenuesfor the six months ended June 30, 2016 compared to the six months ended June 30, 2015, and growth in our strategic resourcing offering. Foreign currency exchange rate fluctuations computed on a constant currency basis reduced net revenues by approximately $12.5 million for the six months ended June 30, 2016 as compared to the prior year.

Net revenues in our Commercial segment increased approximately $102.8 million or 20.8% (20.7% on a constant currency basis), to $596.8 million for the six months ended June 30, 2016 from $494.0 million for the six months ended June 30, 2015. The increasewas primarilyattributableto $108.6 millionof growth in our sellingsolutionsoffering,the largestofferingin our Commercialsegmentmeasuredby net revenues,as a resultof newprojectwins and fewer project cancellations in the United States, including a $2.7 million increase in client incentive fees. In addition, $11.4 millionof growth in revenues was recognized in our communicationsoffering.Project cancellationsand downsizingsin our sellingsolutionsofferingreducednet revenueson a comparativebasisby approximately$17.2 millionfor the sixmonthsended June 30, 2016 relativeto the sixmonthsended June 30, 2015, and occurredfor variousreasons,including,but not limitedto, a de-emphasison particular projects,a change in outsourcingor marketingstrategy,productperformanceand budget considerationsamong certainof our clients. The growth in our sellingsolutionsand communicationsofferingswas partiallyoffsetby our $11.7 milliondecreasein our medicationadherenceofferingprimarilydue to the saleof our patientaccessand reimbursementservicesofferingin August 2015, and lower volumein our consultingoffering.Foreign currency exchange rate fluctuations computed on a constant currency basis resulted in an increase of approximately $0.5 million in net revenues for the six months ended June 30, 2016.

The substantial majority of the intersegment eliminations from Commercial to Corporate and other for both 2015 and 2016 is related to an agreement to provide commercialization services to a biopharmaceutical client for launch of certain specified products in return for a royalty on the client’s net revenues for such products.

Cost of revenues

	For the Six Months Ended June 30,												Change						Gross Margin
				% of Net						% of Net
(in millions, except percentages)	2016			Revenues			2015			Revenues			$			%			2016			2015
Cost of revenues:
Clinical	$	338.1			65.7	%	$	298.7			65.9	%	$	39.4			13.2	%		34.3	%		34.1	%
Commercial		422.7			70.8	%		332.2			67.2	%		90.5			27.2	%		29.2	%		32.8	%
Corporate and other		10.1		—				1.3		—				8.8			676.9	%	—			—
Intersegment eliminations		(8.8	)	—				(5.5	)	—				(3.3	)	—			—			—
Cost of revenues	$	762.1			69.1	%	$	626.7			66.6	%	$	135.4			21.6	%		30.9	%		33.4	%

Cost of revenues increased $135.4 million, or 21.6%, to $762.1 million for the six months ended June 30, 2016 from $626.7 million for the six months ended June 30, 2015, due to volume increases in our Clinical and Commercial segments. Gross margin decreased to 30.9% for the six months ended June 30, 2016 compared to 33.4% for the six months ended June 30, 2015, largely due to a shift in the mix of projects to lower gross margin projects in our Commercial segment.

Cost of revenues in our Clinical segment increased $39.4 million, or 13.2%, to $338.1 million for the six months ended June 30, 2016 from $298.7 million for the six months ended June 30, 2015. The increase primarily reflected the cost of incremental resources to deliver against higher volumes in our full service offering. Despite the increased cost of revenues, the higher volumes in our full service offering for the six months ended June 30, 2016 resulted in a slight improvement in gross margin to 34.3% compared to 34.1% for the six months ended June 30, 2015.

Cost of revenues in our Commercial segment increased $90.5 million, or 27.2%, to $422.7 million for the six months ended June 30, 2016 from $332.2 million for the six months ended June 30, 2015. The increase was primarily due to a higher volume of projects in our selling solutions offering which resulted in $88.8 million of additional costs, and a $6.5 million increase in our communications offering, partially offset by decreased costs of $3.9 million in our medication adherence offering due primarily to the sale of our patient access and reimbursement services offering in August 2015. Gross margin in this segment decreased to 29.2% for the six months ended June 30, 2016 from 32.8% for the six months ended June 30, 2015 largely due to an increase in projects in our selling solutions offering which generally have lower gross margins relative to other offerings in the segment. Projectcancellationsanddownsizings in our sellingsolutionsofferingreduced gross margin by approximately $3.0 million for the six months ended June 30, 2016 compared to the six months ended June 30, 2015.

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Corporate and other cost of revenues increased as a result of costs incurred in connection with an agreement to provide commercialization services to a biopharmaceutical client for launch of certain specified products in return for a royalty on the client’s net revenues for such products.

Selling, General and Administrative (SG&A) Expenses

	For the Six Months Ended June 30,										Change
			% of Net					% of Net
(in millions, except percentages)	2016		Revenues			2015		Revenues			$			%
SG&A:
Clinical	$	113.0		22.0	%	$	122.3		27.0	%	$	(9.3	)		(7.6	)	%
Commercial		101.7		17.0	%		119.9		24.3	%		(18.2	)		(15.2	)	%
Corporate and other		27.0		2.4	%		24.3		2.6	%		2.7			11.1		%
Total SG&A	$	241.7		21.9	%	$	266.5		28.3	%	$	(24.8	)		(9.3	)	%

SG&A expenses decreased $24.8 million, or 9.3%, to $241.7 million for the six months ended June 30, 2016from $266.5 million for the six months ended June 30, 2015, due to lower Clinical and Commercial segment SG&A expenses, partially offset by increased SG&A expenses in Corporate and other.

SG&A expenses in our Clinical segment decreased $9.3 million, or 7.6%, to $113.0 million for the six months ended June 30, 2016from $122.3 million for the six months ended June 30, 2015. The decreasewas primarilydue to realizedbenefitsof our efficiencyinitiatives,includinga $5.9 milliondecreasein compensation relatedcosts, a $2.9 milliondecreasein depreciationand amortization and a $1.4 milliondecreasein information technologyinvestmentsand professionalservicefees,partiallyoffsetby unfavorableforeign currencyimpactsof $1.0 million. Non-cash amortization expense related to finite-lived intangible assets was $12.2 million for the six months ended June 30, 2016 compared to $15.2 million for the six months ended June 30, 2015, with the decrease primarily a result of certain assets with a shorter estimated useful life becoming fully amortized.

SG&A expenses in our Commercial segment decreased $18.2 million, or 15.2%, to $101.7 million for the six months ended June 30, 2016from $119.9 million for the six months ended June 30, 2015. The decreasein SG&Afor our Commercialsegmentwas primarilydue to a $5.5 milliondecreasein depreciationand amortization,$4.9 million of favorableforeign currencyimpacts, a $4.3 milliondecreasein information technologyinvestments and professionalservicefees, a $2.0 milliondecreasein compensation relatedcosts,a $3.5 milliondecreasein our medicationadherenceofferingprimarilydue to the saleof our patientaccessand reimbursementservicesofferingin August 2015and otherinsignificantfactors, partially offset by an increase of $3.9 million in restructuring costs. Non-cash amortization expense related to finite-lived intangible assets was $6.0 million for the six months ended June 30, 2016 compared to $11.0 million for the six months ended June 30, 2015, with the decrease primarily a result of certain assets with a shorter estimated useful life becoming fully amortized.

Corporate and other SG&A expenses increased $2.7 million, or 11.1%, to $27.0 million for the six months ended June 30, 2016from $24.3 million for the six months ended June 30, 2015. The increase was primarily due to a $3.1 millionincreasein professionalservicefees, including transaction-related costs, and a $1.1 millionincreasein depreciation and otherinsignificantfactors,partially offset by $1.5 million in decreased compensation related costs.

Gain on Extinguishment of Debt

	For the Six Months Ended June 30,
(in millions)	2016		2015
Gain on extinguishment of debt	$	0.2	$	—

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For the six months ended June 30, 2016, we recognized a gain on extinguishment of debt of $0.2 million related to open market repurchases of $23.7 million in face value of our Junior Lien Secured Notes for $23.1 million, including interest, during the first quarter of 2016. Gain on extinguishment of debt principal was partially offset by the write-off of deferred financing costs and unamortized discount associated with the repurchase transactions.

Interest Expense, Net

	For the Six Months Ended June 30,
(in millions)	2016		2015
Interest expense, net	$	110.3	$	113.6

Interest expense, net decreased $3.3 million to $110.3 million for the six months ended June 30, 2016 from $113.6 million for the six months ended June 30, 2015. The interest expense reflects a decrease for the six months ended June 30, 2016 compared to the six months ended June 30, 2015 due to a decrease of $1.5 million of interest on the Junior Lien Secured Notes, which is attributable to both the PIK Note Repurchase (see defined below) and the cash rate election commencing February 15, 2016, and the elimination of penalty interest on the Senior Unsecured Notes described below.  Interest expense included non-cash debt issuance costs and bond discount/premium amortization of $9.5 million, for both the six months ended June 30, 2016 and 2015, respectively, and penalty interest on the Senior Unsecured Notes of $1.8 million for the six months ended June 30, 2015. There was no penalty interest on the Senior Unsecured Notes for the six months ended June 30, 2016 as a result of the effectiveness of the registration statement with the SEC relating to the Senior Unsecured Notes under the Securities Act and completion of the subsequent exchange offer for the Senior Unsecured Notes.

(Provision) Benefit for Income Taxes

	For the Six Months Ended June 30,
				Effective							Effective
(in millions, except percentages)	2016			Tax Rate				2015			Tax Rate
(Provision) benefit for income taxes	$	(11.5	)		(99.4	)	%	$	(7.3	)		(10.9	)	%

We account for income taxes at each interim period using our estimated annual effective tax rate. Discrete items and changes in the estimate of the annual effective tax rate are recorded in the period they occur. The consolidated effective tax rate was (99.4%) and (10.9%) for the six months ended June 30, 2016 and 2015, respectively. The mix of earnings between domestic and foreign and the lower level of consolidated loss, along with a higher level of foreign earnings in 2016 compared to prior year, drove the increase in the tax provision and respective effective tax rate for the six months ended June 30, 2016 as compared to the six months ended June 30, 2015. The income tax provision for the six months ended June 30, 2016 and 2015 primarily reflects that we (i) continued to record a full valuation allowance for our domestic and certain foreign tax jurisdictions, (ii) recorded a tax provision for certain foreign and state jurisdictions that generated earnings, (iii) incurred a deferred tax provision in our domestic jurisdiction arising from taxable temporary differences related to amortization of indefinite-lived intangible assets and goodwill, and (iv) recorded changes in unrecognized tax benefits (including related penalties and interest) as they occur. The tax provisionfor the sixmonthsended June 30, 2016 and 2015 included$5.8 millionand $2.6 millionof foreigntaxes,$0.2 millionand $0.2 millionof statetaxes,$5.1 millionand $4.3 millionof taxabletemporarydifferencesfromamortizationof indefinite-livedintangibleassetsand goodwill and a $0.4 millionand $0.2 millionincreasein unrecognizedtax benefits,respectively.

We provide for a valuation allowance to reduce deferred tax assets to their estimated realizable value if, based on the weight of all available evidence, it is not more likely than not that a portion or all of the deferred tax assets will be realized. We do not expect to record significant tax benefits on future domestic net operating losses until circumstances justify the recognition of such benefits.

As a result of the domestic valuation allowance, taxable temporary differences from the amortization of goodwill and indefinite-lived intangible assets are expected to result in $8.5 million of income tax expense for 2016, and are reflected in our estimated domestic annual effective tax rate. Goodwill and indefinite-lived intangible assets are amortized for income tax purposes, but not for financial statement reporting purposes. This difference results in net deferred income tax expense since the taxable temporary difference cannot be scheduled to reverse during the loss carryforward period. We will record tax expense related to the amortization of our tax deductible goodwill and indefinite-lived intangible assets during those future periods for which we maintain domestic valuation allowances, or until our estimated unamortized balance of $111.4 million at December 31, 2016 is fully amortized for tax purposes.

Seasonality

Our results are subject to some quarterly variability as a result of client purchasing patterns, the timing of the realization of incentive and performance fees and the annual cadence of compensation and benefits expenses. We have historically experienced an

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increase in net revenues in the fourth quarter as a result of clients’ increased spending at the end of the calendar year as well as the realization of incentive and performance fees under certain selling solutions contracts. We have also historically experienced decreased cost of net revenues and SG&A expenses in the fourth quarter and, to a lesser extent, the third quarter related to compensation and benefits expenses, specifically related to reduced employment taxes and benefits accruals.

Financial Condition, Liquidity and Capital Resources

Our primary sources of liquidity are cash flows from operations and borrowings under our credit facilities. At June 30, 2016, we had cash and cash equivalents of $95.9 million and $147.6 million of combined unused availability under our ABL Facility and International Facility to fund our general working capital needs. Drawing upon the combinedunused availabilityunder our ABLFacilityand InternationalFacilitywould not resultin the violationof any covenantscontainedin any of the agreementsgoverningour outstandingindebtedness.

Our primary cash needs are for operating expenses, acquisitions, working capital, capital expenditures, the repayment of principal and the payment of interest on our indebtedness and debt repurchases. Our capital expenditures have been primarily related to information technology and real estate and were $12.6 million and $19.8 million for the six months ended June 30, 2016 and 2015, respectively. We expectto investapproximately$42.0 millionin capitalexpenditures during the year ended December31, 2016.

We and our subsidiaries, affiliates and significant stockholders may from time to time seek to retire or repurchase our outstanding debt through cash purchases and/or exchanges, in open market purchases, privately negotiated transactions, by tender offer or otherwise. Such repurchases or exchanges, if any, will depend on prevailing market conditions, liquidity requirements, contractual restrictions and other factors. The amounts involved may be material. We repurchased $23.7 million in face value of our Junior Lien Secured Notes during the first quarter of 2016. See Note 6 to our Consolidated Financial Statements for additional information.

Our Junior Lien Secured Notes permit up to six semi-annual interest payments to be settled on a PIK basis through the issuance of additional Junior Lien Secured Notes. We paid $30.4 million, $32.2 million and $33.9 million of interest on the Junior Lien Secured Notes for the periods commencing August 15, 2014, February 15, 2015 and August 15, 2015, respectively, in PIK interest, and elected to pay interest for the period commencing February 15, 2016 in cash. We do not intend to utilize the PIK feature for the period commencing on August 15, 2016 and ending on February 14, 2017 with respect to the PIK Notes and intend to pay interest on the PIK Notes entirely in cash for this period.

We believe that our current cash and equivalents, along with cash flows from operations and unused availability under our ABL Facility and International Facility will be sufficient to fund our current operating requirements over the next twelve months. Our liquidity and our ability to meet our obligations and fund our capital and other requirements are also dependent on our future financial performance, which is subject to general economic and market conditions and other factors that are beyond our control. Accordingly, we cannot assure you that our business will generate sufficient cash flow from operations or that future borrowings or equity financings will be available to meet our liquidity needs. If we were unable to generate new contracts with existing and new clients, if the level of contract cancellations increased, or if contract delays lengthen or increase, our cash flow from operations would be materially adversely affected. We anticipate that to the extent we need additional liquidity, it will be funded through the incurrence of additional indebtedness, equity financings or a combination thereof. We cannot assure you that we will be able to obtain this additional liquidity on reasonable terms or at all. Although we have no current plans to do so, if we decide to pursue one or more significant acquisitions or significant internal growth initiatives, we may incur additional debt or sell additional equity to finance such acquisitions or initiatives.

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The following table sets forth our net financial liabilities at June 30, 2016 and December 31, 2015:

(in millions)	June 30, 2016			December 31, 2015
Financial assets:
Cash and cash equivalents	$	95.9		$	121.3
Restricted cash		1.8			1.6
Total financial assets		97.7			122.9
Financial liabilities:
Current portion of capital leases and other    financing arrangements		24.7			23.3
Senior Secured Credit Facilities		575.3			575.3
Senior Secured Notes		625.0			625.0
ABL Facility		—			—
Junior Lien Secured Notes		579.8			569.7
Senior Unsecured Notes		376.3			376.3
International Facility		—			—
Long-term portion of capital leases		47.2			45.3
Less: unamortized premium (discount)		(7.2	)		(9.0	)
Less: deferred financing costs		(27.7	)		(35.4	)
Total debt		2,193.4			2,170.5
Net financial liabilities	$	(2,095.7	)	$	(2,047.6	)

Cash Flows

The followingtablepresentsa summaryof cash flows fromoperating,investingand financingactivitiesfor the periodspresented:

	For the Six Months Ended June 30,
(in millions)	2016			2015
Cash provided by (used in) continuing operations:
Operating activities	$	25.3		$	24.8
Investing activities		(4.5	)		(13.0	)
Financing activities		(45.8	)		(17.5	)

For the Six Months Ended June 30, 2016 Compared to the Six Months Ended June 30, 2015

Cash provided by operating activities increased by $0.5 million to $25.3 million for the six months ended June 30, 2016, compared to $24.8 million for the six months ended June 30, 2015.  The increase in cash provided by operations for the six months ended June 30, 2016 compared to the six months ended June 30, 2015 was primarily due to the growth in the business and the timing of cash flows associated with certain accruals and other liabilities, partially offset by the increase in unbilled accounts receivable, which was driven by the timing of the achievement of billing milestones compared with the delivery of services for revenue recognition purposes. The$22.8millionincreaseinaccruedpayroll,accountspayableandaccruedexpenseswas primarilydueto a $21.9 million increase in our accrued interest related to our Junior Lien Secured Notes associated with the cash rate election commencing February 15, 2016, and thetimingofourincentivecompensationaccruals, as well as the timingofinvoicereceiptsandpayments.

Cash used in investing activities decreased by $8.5 million to $4.5 million for the six months ended June 30, 2016 compared to $13.0 million for the six months ended June 30, 2015. Cash used for the six months ended June 30, 2016 and 2015 primarily related to our purchase of property and equipment, partially offset by proceeds from our fleet vehicle sales and rebates on our vehicle leases.

Cash used in financing activities increased by $28.3 million to $45.8 million for the six months ended June 30, 2016, compared to $17.5 million for the six months ended June 30, 2015. Cash used for the six months ended June 30, 2016 primarily reflected repurchase of our Junior Lien Secured Notes, payments on our capital lease obligations and other financing arrangements, and partial settlement of an installment note related to our 2011 Campbell acquisition. Cash used for the six months ended June 30, 2015 primarily reflects payments on our capital lease obligations and other financing arrangements, and partial settlement of an installment note related to our 2011 Campbell acquisition.

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Days Sales Outstanding

Changes in days salesoutstanding(“DSO”) and unbilledservicesdays salesoutstanding(“UnbilledDSO”) did not have a meaningfulimpacton operatingcash flows during eitherperiod.

DSOis determinedbased on the net three-month averagebalanceof accountsreceivabledividedby thedailyaveragetotalrevenuesfor the relevantquarter. UnbilledDSOrepresentsthe averagenumberof days forservicesdeliveredto clientsto be convertedinto accountsreceivable.DSOhas variedbetween reportingperiods as a resultof normalfluctuationsin the timingof cash receiptsand contractualbillingmilestonesacross thousandsof ongoing contractsat any point in time.DSOwas 51 days, 50 days and 51 days at June 30, 2016 and 2015 and December31, 2015, respectively.The change in DSOis not expectedto have a materialimpacton our resultsof operationsor financialposition.

UnbilledDSOis determinedbased on the net three-month averagebalanceof unbilledservicesdividedbythe dailyaveragetotalrevenuesfor the relevantquarter. UnbilledDSOhas variedbetween reportingperiodsas aresultof normalfluctuationsin the timingof contractualbillingmilestonesacrossthousandsof ongoing contracts at any point in time.The unbilledservicesare generallybilledin the quarterfollowingthe performanceof services.The totalbalanceof unbilledservicesas of December31, 2015 was approximately$207.5 million,out of which a substantialportion,approximately90%, was billedin the subsequent quarter. The unbilledservicesthathad aged past 90 days was approximately$20 million, and was primarilythe resultofcertaincontractfeesthatare payablein installmentsbased on the achievementof performancemilestonesthat may includetargetpatientenrollmentrates, initiationof clinicaltestingsitesand otherfactorsthatare specifictothe termsof each individualcontract,while revenueson contractsare recognizedas contractualobligationsare performed.The schedulingof contractualmilestonesover a study, trialor projectdurationand the achievement of a particularmilestoneprincipallycaused the billingof servicesto extend beyond 90 days fromthe date the relevantserviceswere provided. UnbilledDSOwas 34 days, 32 days and 32 days at June 30, 2016 and 2015 and December31, 2015, respectively.The change in UnbilledDSOis not expectedto have a materialimpacton our resultsof operationsor financialposition.

Long-term Debt and Credit Facilities

At June 30, 2016, we had $575.3 million outstanding under our Senior Secured Credit Facilities, which consisted of $129.6 million under the B-3 term loans and $445.7 million under the B-4 term loans. The term loans under our Senior Secured Credit Facilities mature in May 2018. In addition, we have an ABL Facility which matures in August 2018, and an International Facility, which matures in July 2020. At June 30, 2016, we had no outstanding borrowings and $20.7 million in letters of credit outstanding under the ABL Facility and no outstanding borrowings and $0.1 million in letters of credit outstanding under the International Facility, and we would have been able to borrow up to $129.3 million and $18.3 million, respectively, under those facilities. We also had the option, subject to certain conditions, to increase the amounts borrowed under term loan facilities in our Senior Secured Credit Facilities by up to $300.0 million.

In addition, at June 30, 2016, we also had $625.0 million principal amount of our 9% Senior Secured Notes due 2018 outstanding, which mature in January 2018, $579.8 million principal amount of our 10%/12% Junior Lien Secured Notes due 2018 outstanding, which mature in August 2018, and $376.3 million principal amount of our 10% Senior Unsecured Notes due 2018 outstanding, which mature in August 2018.

We also had capitalized leases and other financing arrangements of $71.9 million outstanding as of June 30, 2016.

As of June 30, 2016, we were in compliance with the covenants under each of the credit agreements governing our credit facilities and each of the indentures governing our notes.

On January 8, 2016, our Board of Directors approved the repurchase of our Junior Lien Secured Notes and the subsequent cancellation of such repurchased notes (the “PIK Note Repurchase”). We have repurchased and cancelled an aggregate principal amount of $23.7 million of our Junior Lien Secured Notes, including accrued and unpaid interest, through open market purchases for $23.1 million.  As a result of the PIK Note Repurchase, we reduced our debt and a pro rata portion of our associated deferred financing costs and debt discount.

Senior Secured Credit Facilities

On August 4, 2010, we, our parent, Citibank, N.A., certain financial institutions and certain of our subsidiaries entered into the Senior Secured Credit Facilities, consisting of a $525 million term loan facility and a $75 million revolving credit facility. 

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Borrowings under the Senior Secured Credit Facilities are secured by a senior lien on all of our and our domestic subsidiaries’ assets on par with the lien granted to the holders of our Senior Secured Notes and subject to a first priority lien on the current assets pledged pursuant to the ABL Facility.  Amounts borrowed under the Senior Secured Credit Facilities are  subject to an interest rate per annum equal to an applicable margin plus, at our option, either (a) for base rate loans, a base rate determined by reference to the highest of (i) the prime rate of Citibank, N.A., (ii) 2.5%, or (iii) the one month US Dollar LIBOR rate plus 1.0% or (b) for Eurodollar rate loans, a rate determined by reference to the highest of (i) the US Dollar LIBOR rate based on the term of the borrowing or (ii) 1.50%.  All of our outstanding term loans issued pursuant to the Senior Secured Credit Facilities now mature in May 2018. As of June 30, 2016 and December 31, 2015, margins on the Senior Secured term B3 loans were 6.25% for Eurodollar Rate loans and 5.25% for Base Rate loans.  As of June 30, 2016 and December 31, 2015, margins on Senior Secured term B4 loans were 6.25% for Eurodollar Rate loans and 5.25% for Base Rate loans. As of June 30, 2016, the interest rate on the B3 and B4 term loans was 7.75%. The terms contained in the Senior Secured Credit Facilities provide for customary events of default and contain covenants limiting, among other things, the ability of the Company and its restricted subsidiaries and co-borrowers to (subject to certain exceptions) incur indebtedness, make certain restricted payments and investments, create liens on certain assets to secure debt, consolidate, merge, sell or otherwise dispose of all or substantially all of our assets and enter into certain transactions with affiliates.

9% Senior Secured Notes due 2018

On December 20, 2012, we issued $600 million aggregate principal amount of 9.0% Senior Secured Notes due 2018, and on December 13, 2013, we issued an additional $25 million of aggregate principal amount of 9.0% Senior Secured Notes due 2018.  The additional notes were issued at a 2.5% premium, have the same terms and are treated as a single series with the previously issued $600 million Senior Secured Notes.

Our $625.0 million Senior Secured Notes bear interest at a rate of 9.0% per annum and mature on January 15, 2018. Interest on the Senior Secured Notes is payable semi-annually on April 15 and October 15 of each year. The Senior Secured Notes are secured by a senior lien on all assets of the Company and its domestic subsidiaries on par with the lien granted pursuant to the Senior Secured Credit Facilities and subject to a first priority lien on the current assets pledged pursuant to the ABL Facility.  The Senior Secured Notes are our and the guarantors’ secured senior obligations and rank equally in right of payment with all of our and the guarantors’ existing and future unsubordinated secured indebtedness and senior to any of our and the guarantors’ future subordinated indebtedness, if any. We are not obligated to file a registration statement related to the Senior Secured Notes. The indenture governing the Senior Secured Notes provides for customary events of default and contains covenants limiting, among other things, our ability to (subject to certain exceptions) incur indebtedness, make certain restricted payments and investments, create liens on certain assets to secure debt, consolidate, merge, sell or otherwise dispose of all or substantially all of our assets and enter into certain transactions with affiliates.

Asset Based Revolving Credit Facility

On August 16, 2013, we, Citibank, N.A. and certain financial institutions entered into a credit agreement for an asset-based revolving credit facility of up to $150.0 million (the “ABL Facility”), subject to borrowing base availability, which matures on August 16, 2018. Up to $35.0 million of the ABL Facility is available for the issuance of letters of credit. Amounts borrowed under the ABL Facility are subject to interest at a rate per annum equal to an applicable margin plus, at our option, either (a) for a base rate loan, a base rate determined by reference to the highest of (i) the Federal Funds Rate plus 0.5%, (ii) the prime rate of Citibank, N.A., or (iii) the one month US Dollar LIBOR rate plus 1.0% or (b) for a Eurodollar rate loan, the US Dollar LIBOR rate based on the interest period.  The applicable margin percentage for asset based revolving loans is a percentage per annum and ranges from 1.0% to 1.5% for base rate loans or 2.0% to 2.5% for Eurodollar rate loans. The applicable margin percentage with respect to borrowings under the ABL Facility is subject to adjustments based on historical excess availability.  As of June 30, 2016, the interest rate applicable to the ABL Facility was 4.5%. We are also required to pay an unused line fee to the lenders under the ABL Facility on the committed but unutilized balance of the facility at a rate of 0.25% or 0.375% per annum, which varies depending on utilization.

The ABL Facility contains customary covenants and restrictions on our and our subsidiaries’ activities, including but not limited to, limitations on the incurrence of additional indebtedness, liens, use of cash in certain circumstances, dividends, repurchase of capital stock, investments, loans, asset sales, distributions, acquisitions, divestitures and ability to enter into certain transactions with affiliates.  The ABL Facility requires us to maintain a fixed-charge coverage ratio of at least 1.0 to 1.0 and requires certain cash management restrictions, in each case, if available borrowing capacity is less than the greater of 10% of the maximum amount that can be borrowed under the ABL Facility, accounting for the borrowing base at such time, and $12.0 million. The requirement to maintain a minimum fixed-charge coverage ratio was not in effect given our available borrowing capacity as of June 30, 2016. All obligations under the ABL Facility are secured by our wholly owned domestic subsidiaries (with certain agreed upon exceptions) and secured by a first priority lien on our and such domestic subsidiaries’ current assets and a second priority lien on all of our and such domestic subsidiaries’ other assets. The credit agreement governing our ABL Facility also provides for customary events of default. The available borrowing capacity varies monthly according to the levels of our eligible accounts receivable and unbilled receivables. We periodically borrow from the ABL Facility to finance our temporary working capital needs. As of June 30, 2016, we had no

42

outstanding borrowings under our ABL Facility, approximately $20.7 million in letters of credit outstanding against the ABL Facility and we would have been able to borrow up to an additional $129.3 million.

10%/12% Junior Lien Secured Notes due 2018

In August 2014, we issued $507.0 million aggregate principal amount of our Junior Lien Secured Notes ($579.8 million at June 30, 2016). The interest rate with respect to the Junior Lien Secured Notes is a cash rate of 10% per annum or a payment-in-kind (“PIK”) rate of 12% per annum (“PIK Interest”) and mature on August 15, 2018. Interest on the Junior Lien Secured Notes is payable semi-annually in arrears on February 15 and August 15 of each year. We may elect to pay interest by increasing the amount of the Junior Lien Secured Notes by issuing additional Junior Lien Secured Notes for six interest payment periods in the aggregate. The Junior Lien Secured Notes are guaranteed, on a junior lien basis, by each of our domestic wholly-owned subsidiaries that guarantee the Senior Secured Credit Facilities. All obligations under the Junior Lien Secured Notes, and the guarantees of those obligations, are secured on a junior lien basis by our assets and the assets of our subsidiary guarantors that secure the obligations under our Senior Secured Credit Facilities and ABL Facility. The Junior Lien Secured Notes are our and the guarantors’ secured senior obligations and rank equally in right of payments with all of our and the guarantors’ existing and future unsubordinated indebtedness and senior to any of our and the guarantors’ future subordinated indebtedness, if any.

On August 15, 2014, we consummated an exchange offer (the “Junior Lien Notes Exchange Offer”) with holders of our Senior Unsecured Notes in which we issued $475.0 million aggregate principal amount of Junior Lien Secured Notes in exchange for a like amount of our Senior Unsecured Notes.

We paid $30.4 million, $32.2 million and $33.9 million of interest on the Junior Lien Secured Notes for the periods commencing August 15, 2014, February 15, 2015 and August 15, 2015, respectively, in PIK interest, and elected to pay interest for the period commencing February 15, 2016 in cash. We do not intend to utilize the PIK feature for the period commencing on August 15, 2016 and ending on February 14, 2017 with respect to the PIK Notes and intend to pay interest on the PIK Notes entirely in cash for this period. As of June 30, 2016, we accrued 10% interest on the Junior Lien Secured Notes related to the February 15, 2016 cash rate election, which is included in current liabilities. As further described in Note 6 to our consolidated financial statements, we repurchased $23.7 million in face value of our Junior Lien Secured Notes during the first quarter of 2016.

On August 12, 2014, in connection with the Junior Lien Notes Exchange Offer, affiliates of Thomas H. Lee Partners, L.P. and certain co-investors purchased $25 million of Junior Lien Secured Notes and $26.3 million of our 10% Senior Unsecured Notes due 2018 for a total consideration of $50.0 million (the “New Money Investment”). The $26.3 million of our Senior Unsecured Notes were issued at a 5% discount to par value resulting in a $1.3 million discount that will be accreted over the related term using the effective interest method. Additionally, on August 15, 2014 we issued an additional $7.0 million of Junior Lien Secured Notes (the “Backstop Consideration”) to a group of holders of our Senior Unsecured Notes as consideration for such holders’ agreement to tender the Senior Unsecured Notes held by them into the Junior Lien Notes Exchange Offer. In connection with the Junior Lien Notes Exchange Offer, our term loan facility and asset-backed revolving facility were amended on July 28, 2014 (the “Credit Agreement Amendments”) to permit the Junior Lien Notes Exchange Offer, the New Money Investment and the issuance of the Backstop Consideration and to extend the maturities of certain outstanding term loans from 2016 to 2018. The margin on the term loans increased by 0.25% when compared to the interest rates on the prior term loans.  There was no net change in the outstanding principal balance of the term loans as a result of the modified terms.

The indenture governing the Junior Lien Secured Notes provides for customary events of default and contains covenants limiting, among other things, our ability to (subject to certain exceptions) incur indebtedness, make certain restricted payments and investments, create liens on certain assets to secure debt, consolidate, merge, sell or otherwise dispose of all or substantially all of our assets and enter into certain transactions with affiliates.

10% Senior Unsecured Notes due 2018

On August 4, 2010, we issued $275.0 million aggregate principal amount of 10% Senior Notes due 2018 (the “Senior Unsecured Notes”). In addition, on August 12, 2014, in connection with the Junior Lien Notes Exchange Offer, affiliates of THL and certain co-investors purchased $26.3 million of the Senior Unsecured Notes, which were issued at a 5% discount to par value resulting in a $1.3 million discount that is accreted over the related term using the effective interest method. We also issued $160.0 million of additional Senior Unsecured Notes on June 10, 2011 and $390.0 million of Senior Unsecured Notes on July 13, 2011 in connection with certain acquisitions, which were issued at a 5% discount to par value, creating a discount of $19.5 million that is recorded net of the related notes within long-term debt, net of current portion, in the unaudited condensed consolidated balance sheet and is accreted up to the par value using an effective interest method over its related term. We had $376.3 million in Senior Unsecured Notes outstanding as of June 30, 2016. The Senior Unsecured Notes bear interest at a rate of 10.0% per annum and mature on August 15, 2018.

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Interest on the Senior Unsecured Notes is payable semi-annually on February 15 and August 15 of each year. The Senior Unsecured Notes are guaranteed, on an unsecured senior basis, by each of our domestic wholly-owned subsidiaries that guarantee the Senior Secured Credit Facilities. The Senior Unsecured Notes are our and the guarantors’ unsecured senior obligations and rank equally in right of payment with all of our and the guarantors’ existing and future unsubordinated unsecured indebtedness and senior to any of our and the guarantors’ future subordinated indebtedness, if any. The indenture governing the Senior Unsecured Notes provides for customary events of default and contains covenants limiting, among other things, our ability to (subject to certain exceptions) incur indebtedness, make certain restricted payments and investments, create liens on certain assets to secure debt, consolidate, merge, sell or otherwise dispose of all or substantially all of our assets and enter into certain transactions with affiliates.

We entered into registration rights agreements in connection with the issuances of the Senior Unsecured Notes. Under the registration rights agreement with respect to the notes issued on August 4, 2010 in connection with the THL Acquisition, we agreed to use reasonable best efforts to file a registration statement related to the exchange of such notes for exchange notes with the SEC on or prior to the 270th day after August 4, 2010, to cause such registration statement to become effective under the Securities Act on or prior to the earlier of the 90th day following such filing or the 360th day after August 4, 2010, and to consummate the exchange offer on or prior to the 30th day after effectiveness. The registration rights agreement provides that additional interest will accrue on the principal amount of the notes at a rate of 0.25% per annum during the 90-day period immediately following the first to occur of these events and will increase by 0.25% per annum at the end of each subsequent 90-day period until all such defaults are cured, but in no event will the penalty rate exceed 1.00% per annum. The registration rights agreements with respect to the additional notes issued on June 10, 2011 and July 13, 2011 contain similar requirements. As a result of the effectiveness of the registration statement relating to the Senior Unsecured Notes under the Securities Act and completion of the subsequent exchange offer for the Senior Unsecured Notes, the obligation to pay additional interest on $185.5 million of the notes issued in 2010 ceased on August 5, 2015 and the obligation to pay additional interest on $164.5 million of notes issued in 2011 ceased on September 3, 2015.

International Facility

On July 1, 2015 one of our indirect subsidiaries in the United Kingdom, inVentiv Health Clinical UK Ltd., (“inVentiv UK”) as borrower, and one of our indirect subsidiaries in Switzerland, inVentiv Health Switzerland GmbH, as guarantor, entered into an asset-based lending facility (the “International Facility”) for up to $20.0 million. This facility is used to enhance international cash management. At June 30, 2016, we had no outstanding borrowings under the International Facility, approximately $0.1 million in letters of credit outstanding against the International Facility and we would have been able to borrow up to $18.3 million.

Non-Guarantor Subsidiaries

Our Senior Secured Credit Facilities, ABL Facility, Senior Secured Notes, Junior Lien Secured Notes and Senior Unsecured Notes are not guaranteed by certain of our subsidiaries, including all of our non-U.S. subsidiaries or non-wholly owned subsidiaries, and the International Facility is not guaranteed by any subsidiaries other than inVentiv Health Switzerland GmbH. Accordingly, claims of holders of the notes and lenders under our credit facilities will be structurally subordinated to the claims of creditors of these non-guarantor subsidiaries, including trade creditors. All obligations of our non-guarantor subsidiaries will have to be satisfied before any of the assets of such subsidiaries would be available for distribution, upon liquidation or otherwise, to us or a guarantor of our indebtedness.  For supplemental financial information relating to our guarantor subsidiaries and non-guarantor subsidiaries, see Note 15 to the Consolidated Financial Statements provided herewith.

Critical Accounting Policies

Our critical accounting policies are described in our Annual Report on Form 10-K for the year ended December 31, 2015 filed with the SEC on March 18, 2016. There have been no material changes, updates or revisions to our critical accounting policies.

Recent Accounting Pronouncements

           In March 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update 2016-09 (“ASU 2016-09”), Compensation—Stock Compensation (Topic 718) to simplify several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. ASU 2016-09 is effective for interim and annual reporting periods beginning after December 15, 2016. Early adoption is permitted. We are currently evaluating the impact of adopting ASU 2016-09 on our consolidated financial position, results of operations and statement of cash flows.

In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) (“ASU 2016-02”) to increase transparency and comparability among organizations by requiring the recognition of right-to-use assets and liabilities on the balance sheet and disclosing qualitative and quantitative information about leasing arrangements. ASU 2016-02 will be applied on a modified retrospective basis and to each prior reporting period presented and is effective for interim and annual reporting periods beginning

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after December 15, 2018. Early adoption is permitted. The adoption of this standard is expected to have a material impact on our consolidated balance sheets, and its potential impact is currently being evaluated.

In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606), which provides guidance for revenue recognition (“ASU 2014-09”).  ASU 2014-09 will supersede the revenue recognition requirements in Revenue Recognition (Topic 605), and most industry-specific guidance.  In July 2015, the FASB deferred the effective date of the new revenue recognition standard by one year, and it is effective for interim and annual periods beginning after December 15, 2017. Early adoption is permitted, but no earlier than the original effective date of January 1, 2017. In May 2016, the FASB issued ASU 2016-12 which provides clarifying guidance in a few narrow areas and adds some practical expedients to the guidance. We are currently evaluating the impact of adopting the new revenue recognition standard on our consolidated financial position and results of operations.

Off-Balance Sheet Arrangements

As of June 30, 2016 and December 31, 2015, we did not have any off-balance-sheet arrangements, as defined in Item 303(a)(4)(ii) of SEC Regulation S-K.

ITEM 3. Quantitative and Qualitative Disclosures About Market Risk

We are exposed to market risk from changes in interest rates and foreign currency exchange rates.

Interest Rate Exposure

We will incur variable interest expense with respect to our Senior Secured Credit Facilities and any outstanding borrowings under our ABL Facility and International Facility. Based on our variable rate debt outstanding at June 30, 2016, a hypothetical increase or decrease of 10% of current market rates would not have an effect on our interest expense since market rates are well below the minimum floating rate (i.e. a floor of 1.5% for Eurodollar rate loans) that is used to calculate the interest we are required to pay pursuant to our Senior Secured Credit Facilities and there are no outstanding borrowings under our ABL Facility or our International Facility.

Foreign Currency Exchange Rate Exposure

Our international expansion has resulted in increased foreign exchange rate exposure and we may become more susceptible to foreign currency exchange rate exposure as we continue to expand our international operations. We may enter into forward exchange contracts to mitigate this variability.

The financial statements of our subsidiaries expressed in foreign currencies are translated from the respective functional currencies to U.S. Dollars, with results of operations and cash flows translated at average exchange rates during the period, and assets and liabilities translated at end of the period exchange rates. At June 30, 2016, the accumulated other comprehensive loss related to foreign currency translations was approximately $33.8 million.

We have net revenues denominated in currencies other than the U.S. Dollar. Our financial statements are reported in U.S. Dollars and, accordingly, fluctuations in exchange rates will affect the translation of our revenues and expenses denominated in foreign currencies into U.S. Dollars for purposes of reporting our consolidated financial results. For the three and six months ended June 30, 2016 and 2015, the most significant currency exchange rate exposures were the Pound Sterling, Canadian Dollar and Japanese Yen. Excluding the impacts from any potential future hedging transactions, a hypothetical change of 10% in average exchange rates used to translate all foreign currencies to U.S. Dollars would have impacted income (loss) before income tax provision (benefit) for the three and six months ended June 30, 2016 by approximately $1.0 million and $2.0 million, respectively.

We are subject to foreign currency transaction risk for fluctuations in exchange rates during the period of time between the consummation and cash settlement of a transaction. We earn revenues from our contracts over a period of several months and, in some cases, over a period of several years. Accordingly, exchange rate fluctuations during this period may affect our profitability with respect to such contracts. We limit our foreign currency transaction risk through exchange rate fluctuation provisions stated in our contracts with clients, or we may hedge our transaction risk with foreign currency exchange contracts. Historically we have not used derivative financial instruments or other financial instruments to hedge such economic exposures.

We do not have significant operations in countries in which the economy is considered to be highly-inflationary.

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Item 4. Controls and Procedures

Disclosure Controls and Procedures

Under the supervision and with the participation of our management, including our principal executive officer and principal financial officer, we conducted an evaluation of our disclosure controls and procedures, as such term is defined under Rule 13a-15(e) and 15d-15(e) promulgated under the Exchange Act as of June 30, 2016. Based on this evaluation, our principal executive officer and our principal financial officer concluded that our disclosure controls and procedures were designed and are functioning effectively to provide reasonable assurance that the information required to be disclosed by us in the reports that we file or submit under the Exchange Act is (i) recorded, processed, summarized and reported within the time periods specified in the applicable rules and forms, and (ii) accumulated and communicated to our management, including our principal executive officer and principal financial officer, as appropriate, to allow timely decisions regarding required disclosure.

Changes in Internal Control Over Financial Reporting

There have been no changes during the quarter ended June 30, 2016 in our internal control over financial reporting (as defined in Rules 13a-15(f) and 15d-15(f) promulgated under the Exchange Act) that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

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Part II. Other Information

Item 1. Legal Proceedings

From time to time, we are involved in certain legal proceedings not described herein that are incidental to the normal conduct of our business. We do not believe that the outcome of any such proceedings, individually or in the aggregate, if decided adversely to our interests, would have a material adverse effect on our business, financial condition or results of operations.

Item 1A. Risk Factors

For a discussion of the risks relating to our business, see “Risk Factors” in our Quarterly Report on Form 10-Q for the quarter ended March 31, 2016.  Management does not believe that there have been any material changes in our risk factors from those previously described in our Quarterly Report.

Item 5. Other Information

Change in Compensation for Mr. Michael Bell

On July 31, 2016, our board of directors approved an increase in Mr. Bell’s base salary from $625,000 per year to $850,000 per year.

Item 6. Exhibits

The exhibits in the accompanying Exhibit Index following the signature page are filed or furnished as a part of this report and are incorporated herein by reference.

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized, in Burlington, Massachusetts, on August 1, 2016.

INVENTIV HEALTH, INC.
By:	/s/ Jonathan E. Bicknell
	Jonathan E. Bicknell Chief Financial Officer (Principal Financial and Accounting Officer)

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EXHIBIT INDEX

Exhibit No.	Description
31.1	Certification of the Chief Executive Officer pursuant to Securities Exchange Act Rules 13a-14(a) and 15d-14(a), pursuant to section 302 of the Sarbanes-Oxley Act of 2002.
31.2	Certification of the Chief Financial Officer pursuant to Securities Exchange Act Rules 13a-14(a) and 15d-14(a), pursuant to section 302 of the Sarbanes-Oxley Act of 2002.
32.1	Certification of the Chief Executive Officer and Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted by Section 906 of the Sarbanes-Oxley Act of 2002.
101.1	Interactive Data Files Pursuant to Rule 405 of Regulation S-T: (i) Condensed Consolidated Balance Sheets, (ii) Condensed Consolidated Statements of Operations, (iii) Condensed Consolidated Statements of Comprehensive Loss, (iv) Condensed Consolidated Statement of Stockholder’s Deficit, (v) Condensed Consolidated Statements of Cash Flows and (vi) Notes to Unaudited Condensed Consolidated Financial Statements.

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EX-31.1

EXHIBIT 31.1

CERTIFICATIONS

I, Michael A. Bell, certify that:

1. I have reviewed this quarterly report on Form 10-Q of inVentiv Health, Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(c) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: August 1, 2016

/s/ Michael A. Bell

Michael A. Bell
Chairman and Chief Executive Officer

EX-31.2

EXHIBIT 31.2

CERTIFICATIONS

I, Jonathan E. Bicknell, certify that:

1. I have reviewed this quarterly report on Form 10-Q of inVentiv Health, Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(c) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: August 1, 2016

/s/ Jonathan E. Bicknell

Jonathan E. Bicknell
Chief Financial Officer

EX-32.1

EXHIBIT 32.1

CERTIFICATION PURSUANT TO
18 U.S.C. Section 1350, as adopted pursuant to
Section 906 of the Sarbanes-Oxley Act of 2002

Each of the undersigned hereby certifies that to his knowledge the Quarterly Report on Form 10-Q for the quarter ended June 30, 2016 of inVentiv Health, Inc. (the “Company”) filed with the Securities and Exchange Commission on the date hereof fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934 and that the information contained in such report fairly presents, in all material respects, the financial condition and results of operations of the Company.

Date: August 1, 2016

/s/ Michael A. Bell

Michael A. Bell
Chairman and Chief Executive Officer

Date: August 1, 2016

/s/ Jonathan E. Bicknell

Jonathan E. Bicknell
Chief Financial Officer

A signed original of this written statement required by Section 906 has been provided to the Company and will be retained by the Company and furnished to the Securities and Exchange Commission or its staff upon request.

XML

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2016	Jul. 29, 2016
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2016
Document Fiscal Year Focus	2016
Document Fiscal Period Focus	Q2
Trading Symbol	VTIV
Entity Registrant Name	INVENTIV HEALTH INC
Entity Central Index Key	0001089473
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		1,000

XML

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 95,877	$ 121,317
Restricted cash	1,790	1,607
Accounts receivable, net of allowances for doubtful accounts of $5,937 and $5,395 at June 30, 2016 and December 31, 2015, respectively	377,469	359,081
Unbilled services	244,071	207,465
Prepaid expenses and other current assets	43,279	42,930
Income tax receivable	1,411	1,076
Total current assets	763,897	733,476
Property and equipment, net	138,345	142,032
Goodwill	897,441	895,369
Intangible assets, net	317,131	334,646
Non-current deferred tax assets	10,341	10,032
Other assets	39,895	37,134
Total assets	2,167,050	2,152,689
Current liabilities:
Current portion of capital lease obligations and other financing arrangements	24,712	23,333
Accrued payroll, accounts payable and accrued expenses	354,397	333,726
Income taxes payable	5,600	5,484
Deferred revenue and client advances	237,133	246,656
Total current liabilities	621,842	609,199
Capital lease obligations, net of current portion	47,151	45,258
Long-term debt, net of current portion	2,121,561	2,101,885
Non-current income tax liability	7,570	5,942
Deferred tax liability	79,931	73,360
Other non-current liabilities	80,341	88,153
Total liabilities	2,958,396	2,923,797
Commitments and contingencies (Note 7)
inVentiv Health, Inc. stockholder’s deficit:
Common stock, $.01 par value, 1,000 shares authorized, issued and outstanding at June 30, 2016 and December 31, 2015, respectively	1	1
Due from parent	(3,362)
Additional paid-in-capital	576,741	573,739
Accumulated deficit	(1,332,687)	(1,309,136)
Accumulated other comprehensive loss	(33,481)	(37,340)
Total inVentiv Health, Inc. stockholder’s deficit	(792,788)	(772,736)
Noncontrolling interest	1,442	1,628
Total stockholder’s deficit	(791,346)	(771,108)
Total liabilities and stockholder’s deficit	$ 2,167,050	$ 2,152,689

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Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Statement Of Financial Position [Abstract]
Allowances for doubtful accounts	$ 5,937	$ 5,395
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	1,000	1,000
Common stock, shares issued	1,000	1,000
Common stock, shares outstanding	1,000	1,000

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Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Income Statement [Abstract]
Net revenues	$ 561,022	$ 489,417	$ 1,102,318	$ 940,394
Reimbursed out-of-pocket expenses	82,824	83,077	173,807	150,400
Total revenues	643,846	572,494	1,276,125	1,090,794
Operating expenses:
Cost of revenues	389,735	326,230	762,111	626,735
Reimbursable out-of-pocket expenses	82,824	83,077	173,807	150,400
Selling, general and administrative expenses	117,956	133,555	241,712	266,469
Total operating expenses	590,515	542,862	1,177,630	1,043,604
Operating income (loss)	53,331	29,632	98,495	47,190
Gain on extinguishment of debt			221
Interest expense	(54,621)	(57,126)	(110,538)	(113,605)
Interest income	208	6	272	22
Income (loss) before income tax (provision) benefit and income (loss) from equity investments	(1,082)	(27,488)	(11,550)	(66,393)
Income tax (provision) benefit	(3,305)	(2,738)	(11,481)	(7,266)
Income (loss) before income (loss) from equity investments	(4,387)	(30,226)	(23,031)	(73,659)
Income (loss) from equity investments	4	238	9	(1,291)
Net income (loss)	(4,383)	(29,988)	(23,022)	(74,950)
Less: Net (income) loss attributable to the noncontrolling interest	(91)	(243)	(529)	(366)
Net income (loss) attributable to inVentiv Health, Inc.	$ (4,474)	$ (30,231)	$ (23,551)	$ (75,316)

XML

Condensed Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Statement Of Income And Comprehensive Income [Abstract]
Net income (loss)	$ (4,383)	$ (29,988)	$ (23,022)	$ (74,950)
Other comprehensive income (loss):
Foreign currency translation adjustment	(1,560)	4,218	3,859	(1,227)
Total other comprehensive income (loss)	(1,560)	4,218	3,859	(1,227)
Total comprehensive income (loss)	(5,943)	(25,770)	(19,163)	(76,177)
Less: Comprehensive (income) loss attributable to the noncontrolling interest	(91)	(243)	(529)	(366)
Comprehensive income (loss) attributable to inVentiv Health, Inc.	$ (6,034)	$ (26,013)	$ (19,692)	$ (76,543)

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Condensed Consolidated Statement of Stockholder's Deficit - 6 months ended Jun. 30, 2016 - USD ($) $ in Thousands	Total	Common Stock [Member]	Due From Parent [Member]	Additional Paid-In Capital [Member]	Accumulated Deficit [Member]	Accumulated Other Comprehensive Loss [Member]	Non- controlling Interest [Member]
Beginning Balance, Amount at Dec. 31, 2015	$ (771,108)	$ 1		$ 573,739	$ (1,309,136)	$ (37,340)	$ 1,628
Beginning Balance, Shares at Dec. 31, 2015	1,000	1,000
Net loss	$ (23,022)				(23,551)		529
Increase in amounts due from parent	(3,362)		$ (3,362)
Foreign currency translation adjustment	3,859					3,859
Exercise of stock options	25			25
Stock-based compensation expense	2,977			2,977
Distributions to noncontrolling interest	(715)						(715)
Ending Balance, Amount at Jun. 30, 2016	$ (791,346)	$ 1	$ (3,362)	$ 576,741	$ (1,332,687)	$ (33,481)	$ 1,442
Ending Balance, Shares at Jun. 30, 2016	1,000	1,000

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Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Cash flows from operating activities:
Net income (loss)	$ (23,022)	$ (74,950)
Adjustments to reconcile net income (loss) to net cash provided by (used) in operating activities:
Depreciation	27,721	22,650
Amortization of intangible assets	18,243	26,261
Amortization of deferred financing costs and original issue discount/premium	9,469	9,475
Payment-in-kind interest	8,025	31,800
(Gain) loss on disposal of assets	1,354	589
Stock-based compensation expense	2,977	515
Gain on extinguishment of debt	(221)
Deferred taxes	6,569	5,183
Other non-cash adjustments	(886)	2,236
Changes in assets and liabilities, net
Accounts receivable, net	(19,603)	(12,462)
Unbilled services	(37,496)	(27,859)
Prepaid expenses and other current assets	1,073	(1,661)
Accrued payroll, accounts payable and accrued expenses	22,842	6,886
Income tax receivable and non-current income tax liability	1,054	429
Deferred revenue and client advances	5,400	36,276
Other, net	1,783	(561)
Net cash provided by (used in) operating activities	25,282	24,807
Cash flows from investing activities:
Purchases of property and equipment	(12,617)	(19,808)
Proceeds from vehicle sales and rebates on vehicle leases	8,320	6,826
Other, net	(248)	(32)
Net cash provided by (used in) investing activities	(4,545)	(13,014)
Cash flows from financing activities:
Repayments on capital leases and other financing arrangements	(20,312)	(14,943)
Repurchase of Notes	(22,790)
Borrowings under line of credit		153,000
Repayment on line of credit		(153,000)
Payment on installment note and contingent consideration related to acquisition	(2,322)	(2,082)
Payments to parent	(173)
Other, net	(226)	(470)
Net cash provided by (used in) financing activities	(45,823)	(17,495)
Effects of foreign currency exchange rate changes on cash	(354)	238
Net increase (decrease) in cash and cash equivalents	(25,440)	(5,464)
Cash and cash equivalents, beginning of period	121,317	57,059
Cash and cash equivalents, end of period	95,877	51,595
Supplemental disclosure of cash flow information:
Cash paid for interest	71,563	72,440
Cash paid (refund) for income taxes	4,090	1,502
Supplemental disclosure of non-cash activities:
Vehicles acquired through capital lease agreements	23,108	17,617
Accrued capital expenditures	926	$ 3,340
Expenses to be paid on behalf of parent included in accrued payroll, accounts payable and accrued expenses	$ 3,189

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Organization and Business

6 Months Ended

Jun. 30, 2016

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Organization and Business

1. Organization and Business

inVentiv Health, Inc. (“inVentiv”, or the “Company”) is a leading global provider of outsourced clinical development and commercialization services to biopharmaceutical companies. The Company provides services through two reportable business segments: Clinical and Commercial. The Company provides a full suite of services to enhance its clients’ ability to successfully develop, launch and market their products. The Company offers its solutions on both a standalone and integrated basis. The Company’s services cover the entire biopharmaceutical development and commercialization continuum spanning from first-in-human clinical trials to the ongoing commercialization of mature products.

On August 4, 2010, inVentiv Acquisition, Inc., an indirect, wholly owned subsidiary of inVentiv Group Holdings, Inc. (“Group Holdings” or “Parent”) merged with and into the Company (the “THL Acquisition”). Group Holdings is controlled by affiliates of Thomas H. Lee Partners (“THL”), a global private investment and advisory firm, as well as certain co-investors and certain members of management (together with the private equity funds sponsored by THL, and the co-investors, the “Investors”).     

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Basis of Presentation

6 Months Ended

Jun. 30, 2016

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Basis of Presentation

2. Basis of Presentation

The unaudited condensed consolidated financial statements are prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”), and include the accounts of inVentiv Health, Inc. and its wholly owned subsidiaries. In addition, the Company consolidates the accounts of its 60% owned subsidiary and reflects the minority interest as a noncontrolling interest classified in equity. The Company has both equity and cost method investments in securities of certain privately held entities.  Investments accounted for under the equity method are recorded at the amount of the Company’s investment and adjusted each period for the Company’s share of the investee’s income or loss.  During the six months ended June 30, 2015, the Company recognized a $1.3 million loss on dissolution of a joint venture accounted for under the equity method, which is included in income (loss) from equity investments in the consolidated statements of operations. Investments accounted for under the cost method are recorded at the historical carrying value.  The carrying value of both types of investments is recorded in other assets in the consolidated balance sheets and is immaterial.  All intercompany transactions have been eliminated in consolidation.

The condensed consolidated financial statements as of June 30, 2016 and for the three and six months ended June 30, 2016 and 2015 are unaudited, but in the opinion of management include all adjustments (consisting only of normal recurring adjustments) necessary for a fair presentation of the results for the interim periods. They do not include all of the information and footnotes required by GAAP for complete financial statements and should be read in conjunction with the 2015 audited consolidated financial statements and notes included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2015 dated March 18, 2016 on file with the Securities and Exchange Commission (the “SEC”).  The results reported in these condensed consolidated financial statements should not necessarily be viewed as indicative of the results that may be expected for the entire year. The balance sheet at December 31, 2015 has been derived from the audited financial statements at that date, but does not include all of the information and footnotes required by GAAP for complete financial statements.

The unaudited condensed consolidated financial statements of the Company have been prepared in conformity with GAAP, which requires management to make estimates and judgments that affect the reported amount of assets, liabilities, revenue, and expenses and disclosure of contingent assets and liabilities in the accompanying financial statements.  The significant estimates made by the Company include the estimated forecast that is used in assessing the realizability of the Company’s deferred tax assets and assessing whether the fair value of intangible assets and goodwill exceed the related carrying value.  In addition, the Company also makes significant estimates as it relates to revenue recognition, self-insurance reserves, including reserves for employee medical, automobile insurance and worker’s compensation. In the opinion of management, all adjustments considered necessary for a fair presentation have been reflected in these unaudited condensed consolidated financial statements.

Reclassifications

In the Company’s 2015 consolidated financial statements, the Company reclassified certain costs from selling, general and administrative (“SG&A”) expenses to cost of revenues to conform to the presentation adopted for 2016. The revised classification aligns all personnel and related costs associated with service delivery within cost of revenues, along with the associated information technology costs supporting these processes.  These changes better harmonize the accounting policies of the group, and are consistent with how management is assessing performance and managing costs. As a result of the revision in the classification of the costs, the previously reported SG&A was reduced by $7.9 million and $17.2 million, respectively, for the three and six months ended June 30, 2015, and cost of revenues has increased by a corresponding amount.  The reclassification had no impact on our consolidated financial position, net operating results included in our statements of operations or cash flows. The Company also aggregated the presentation of certain line items in the consolidated statement of cash flows for the six months ended June 30, 2015 to conform to the current year presentation.

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Recent Accounting Pronouncements

6 Months Ended

Jun. 30, 2016

Recent Accounting Pronouncements [Abstract]

Recent Accounting Pronouncements

3. Recent Accounting Pronouncements

In March 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update 2016-09 (“ASU 2016-09”), Compensation—Stock Compensation (Topic 718) to simplify several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. ASU 2016-09 is effective for interim and annual reporting periods beginning after December 15, 2016. Early adoption is permitted. The Company is currently evaluating the impact of adopting ASU 2016-09 on the Company’s consolidated financial position, results of operations and statement of cash flows.

In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) (“ASU 2016-02”) to increase transparency and comparability among organizations by requiring the recognition of right-to-use assets and liabilities on the balance sheet and disclosing qualitative and quantitative information about leasing arrangements. ASU 2016-02 will be applied on a modified retrospective basis and to each prior reporting period presented and is effective for interim and annual reporting periods beginning after December 15, 2018. Early adoption is permitted. The adoption of this standard is expected to have a material impact on the Company’s consolidated balance sheets, and its potential impact is currently being evaluated.

In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606), which provides guidance for revenue recognition (“ASU 2014-09”).  ASU 2014-09 will supersede the revenue recognition requirements in Revenue Recognition (Topic 605), and most industry-specific guidance.  In July 2015, the FASB deferred the effective date of the new revenue recognition standard by one year, and it is effective for interim and annual periods beginning after December 15, 2017. Early adoption is permitted, but no earlier than the original effective date of January 1, 2017. In May 2016, the FASB issued ASU 2016-12 which provides clarifying guidance in a few narrow areas and adds some practical expedients to the guidance. The Company is currently evaluating the impact of adopting the new revenue recognition standard on the Company’s consolidated financial position and results of operations.

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Goodwill

6 Months Ended

Jun. 30, 2016

Goodwill And Intangible Assets Disclosure [Abstract]

Goodwill

4. Goodwill

The following table sets forth the carrying amount of goodwill for each segment as of June 30, 2016 and December 31, 2015 (in thousands):

	Clinical			Commercial		Total
Net goodwill at December 31, 2015	$	382,215		$	513,154	$	895,369
Foreign currency translation		(40	)		2,112		2,072
Net goodwill at June 30, 2016	$	382,175		$	515,266	$	897,441

As of June 30, 2016 and December 31, 2015, the Company had accumulated goodwill impairment losses of $478.3 million.

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Intangible Assets

6 Months Ended

Jun. 30, 2016

Goodwill And Intangible Assets Disclosure [Abstract]

Intangible Assets

5. Intangible Assets

The following table sets forth the carrying amount of the Company’s intangible assets as of June 30, 2016 and December 31, 2015 (in thousands):

	June 30, 2016							December 31, 2015
			Accumulated							Accumulated
	Gross		Amortization			Net		Gross		Amortization			Net
Customer relationships	$	366,268	$	(164,093	)	$	202,175	$	365,777	$	(148,679	)	$	217,098
Technology		27,214		(26,559	)		655		27,003		(26,206	)		797
Tradenames subject to amortization		18,310		(16,894	)		1,416		18,293		(16,657	)		1,636
Backlog		95,050		(92,144	)		2,906		95,014		(89,427	)		5,587
Other		1,020		(645	)		375		1,020		(585	)		435
Total finite-lived intangible assets		507,862		(300,335	)		207,527		507,107		(281,554	)		225,553
Tradenames not subject to amortization		109,604		—			109,604		109,093		—			109,093
Total intangible assets	$	617,466	$	(300,335	)	$	317,131	$	616,200	$	(281,554	)	$	334,646

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Debt

6 Months Ended

Jun. 30, 2016

Debt Disclosure [Abstract]

Debt

6. Debt

The Company’s indebtedness is summarized as follows (in thousands):

	June 30,			December 31,
	2016			2015
Senior Secured Credit Facilities:
Term Loan Facility B3 loans, due 2018	$	129,645		$	129,645
Term Loan Facility B4 loans, due 2018		445,694			445,694
Senior Secured Notes, due 2018		625,000			625,000
ABL Facility		—			—
Junior Lien Secured Notes, due 2018		579,837			569,691
Senior Unsecured Notes, due 2018		376,316			376,316
International Facility		—			—
Capital leases and other financing arrangements		71,863			68,591
Total borrowings		2,228,355			2,214,937
Less: unamortized premium (discount)		(7,174	)		(9,030	)
Less: unamortized deferred financing costs		(27,757	)		(35,431	)
Less: current portion of capital leases and other financing    arrangements		(24,712	)		(23,333	)
Total long-term borrowings, net of current portion	$	2,168,712		$	2,147,143

At June 30, 2016, the Company had $575.3 million outstanding under the Senior Secured Credit Facilities, which consisted of $129.6 million under the B3 term loans and $445.7 million under the B4 term loans.  The Company had $625.0 million outstanding under the Senior Secured Notes, and there were no outstanding borrowings under the ABL Facility (as defined below).  The Company also had $579.8 million outstanding under the Junior Lien Secured Notes (as defined below), and $376.3 million outstanding under the Senior Unsecured Notes.  In addition, the Company had capitalized leases and other financing arrangements of $71.9 million outstanding as of June 30, 2016.

On July 1, 2015 one of the Company’s indirect subsidiaries in the United Kingdom, inVentiv Health Clinical UK Ltd., (“inVentiv UK”) as borrower, and one of the Company’s indirect subsidiaries in Switzerland, inVentiv Health Switzerland GmbH, as guarantor, entered into an asset-based lending facility (the “International Facility”) for up to $20.0 million. This facility is available to enhance international cash management. At June 30, 2016, the Company had no outstanding borrowings under the International Facility, approximately $0.1 million in letters of credit outstanding against the International Facility and would have been able to borrow up to $18.3 million.

On August 15, 2014, the Company consummated an exchange offer (the “Junior Lien Notes Exchange Offer”) with holders of its 10% Senior Unsecured Notes due 2018 in which the Company issued $475.0 million aggregate principal amount of new 10%/12% Junior Lien Secured Notes due 2018 (the “Junior Lien Secured Notes”) in exchange for a like amount of the Company’s 10% Senior Unsecured Notes due 2018. The Junior Lien Secured Notes permit up to six semi-annual interest payments to be settled through the issuance of additional Junior Lien Secured Notes. The interest rate with respect to the Junior Lien Secured Notes is a cash rate of 10% per annum or a payment-in-kind (“PIK”) rate of 12% per annum (“PIK Interest”). The Company paid interest on the Junior Lien Secured Notes for the periods commencing August 15, 2014, February 15, 2015 and August 15, 2015 in PIK Interest and elected to pay interest for the period commencing February 15, 2016 in cash. The Company does not intend to utilize the PIK feature for the period commencing on August 15, 2016 and ending on February 14, 2017 with respect to the PIK Notes and intends to pay interest on the PIK Notes entirely in cash for this period. On January 8, 2016, the Company’s Board of Directors approved the repurchase by the Company of its certain Junior Lien Secured Notes and the subsequent cancellation of such repurchased notes (the “PIK Note Repurchase”). During the first quarter of 2016, the Company repurchased and cancelled an aggregate principal amount of $23.7 million of its Junior Lien Secured Notes, including accrued and unpaid interest, through open market purchases for $23.1 million.  As a result of the PIK Note Repurchase, the Company reduced its debt and a pro rata portion of deferred financing costs and debt discount on the transactions and recorded a gain on extinguishment of debt of $0.2 million.

On August 12, 2014, in connection with the Junior Lien Notes Exchange Offer, affiliates of Thomas H. Lee Partners, L.P. and certain co-investors purchased $25.0 million of Junior Lien Secured Notes and $26.3 million of the Company’s 10% Senior Unsecured Notes due 2018 for a total consideration of $50.0 million (the “New Money Investment”). The $26.3 million of 10% Senior Unsecured Notes due 2018 were issued at a 5% discount to par value resulting in a $1.3 million discount that is accreted over the related term using the effective interest method. Additionally, on August 15, 2014 the Company issued an additional $7.0 million of Junior Lien Secured Notes (the “Backstop Consideration”) to a group of holders of the Company’s 10% Senior Unsecured Notes due 2018 as consideration for such holders’ agreement to tender the 10% Senior Unsecured Notes due 2018 held by them into the Junior Lien Notes Exchange Offer.

In connection with the Junior Lien Notes Exchange Offer, the Company’s term loan facility and asset-backed revolving facility were amended on July 28, 2014 (the “Credit Agreement Amendments”) to permit the Junior Lien Notes Exchange Offer, the New Money Investment and the issuance of the Backstop Consideration and to extend the maturities of certain outstanding term loans from 2016 to 2018. The margin on the term loans increased by 0.25% when compared to the interest rates on the prior term loans.  There was no net change in the outstanding principal balance of the term loans as a result of the modified terms.

On August 16, 2013, the Company, Citibank, N.A. and certain financial institutions entered into a credit agreement for an asset-based revolving credit facility of up to $150.0 million (the “ABL Facility”), subject to borrowing base availability, which matures on August 16, 2018. Up to $35.0 million of the ABL Facility is available for the issuance of letters of credit.

All obligations under the ABL Facility are secured by the Company’s domestic subsidiaries and secured by a first priority lien on current assets of the Company and its domestic subsidiaries and a second priority lien on all other assets of the Company and its domestic subsidiaries. The available borrowing capacity varies monthly according to the levels of the Company’s eligible accounts receivable and unbilled receivables. As of June 30, 2016, the Company had no outstanding borrowings under the ABL Facility, approximately $20.7 million in letters of credit outstanding against the ABL Facility and would have been able to borrow up to an additional $129.3 million.

Cash Pooling

The Company and certain of its international subsidiaries entered into a notional cash pooling arrangement (“Cash Pool”) to help manage global liquidity requirements. The parties to the arrangement combine their cash balances in pooling accounts with the ability to set-off overdrafts to the bank against positive cash balances. Each subsidiary receives interest on the cash balances or pays interest on amounts owed. At June 30, 2016, the Company’s net cash position in the pool of $11.1 million, defined as the gross cash position in the pool of $98.2 million less borrowings of $87.1 million, is reflected as cash and cash equivalents in the consolidated balance sheet.

Fair Value of Long-Term Debt

The carrying amounts and the estimated fair values of long-term debt as of June 30, 2016 and December 31, 2015 are as follows (in thousands):

	June 30, 2016				December 31, 2015
	Carrying value		Estimated fair value		Carrying value		Estimated fair value
Term Loan Facility	$	569,320	$	573,900	$	567,673	$	570,051
Senior Secured Notes		620,204		645,312		618,616		633,594
Junior Lien Secured Notes		565,660		592,158		551,552		537,646
Senior Unsecured Notes		366,376		376,316		364,043		371,142

The fair value of long-term debt instruments is measured based on market values for debt issues with similar characteristics, such as maturities, credit ratings, collateral and interest rates available on the measurement dates for debt with similar terms (level 2 within the fair value hierarchy).  The Company believes the carrying values for capital leases and other financing arrangements approximate their fair values.

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Contingencies

6 Months Ended

Jun. 30, 2016

Commitments And Contingencies Disclosure [Abstract]

Contingencies

7. Contingencies

On October 31, 2013, Cel-Sci Corporation (Cel-Sci) (“Claimant”) made a demand for arbitration under a Master Services Agreement (the “MSA”), dated as of April 6, 2010 between Claimant and two of the Company’s subsidiaries, inVentiv Health Clinical, LLC (formerly known as PharmaNet, LLC) and PharmaNet GmbH (currently known as inVentiv Health Switzerland GmbH and formerly known as PharmaNet AG) (collectively, “PharmaNet”). Under the MSA and related project agreement, which were terminated by Claimant in April 2013, Claimant engaged PharmaNet in connection with a Phase III Clinical Trial of its investigational drug. The arbitration claim alleges (i) breach of contract, (ii) fraud in the inducement, and (iii) common law fraud on the part of PharmaNet, and seeks damages of at least $50 million. In December 2013, inVentiv Health Clinical, LLC filed a counterclaim against Claimant that alleges breach of contract and seeks at least $2 million in damages. The matter proceeded to the discovery phase. In January 2015, inVentiv Health Clinical, LLC filed additional counterclaims against Claimant that allege (i) breach of contract, (ii) opportunistic breach, restitution and unjust enrichment, and (iii) defamation, and seeks at least $2 million in damages and $20 million in other equitable remedies. A hearing is currently scheduled to begin in the second half of 2016. No assessment can be made at this time as to the likely outcome of this matter or an estimateof the possiblerange of loss.  Accordingly, no provision has been recorded as no loss is considered probable or estimable.

Other Matters

The Company is subject to lawsuits, investigations and claims arising out of the conduct of its business, including those related to commercial transactions, contracts, government regulation and employment matters. Certain claims, suits and complaints have been filed or are pending against the Company. The Company does not believe that the outcome of any legal proceedings, individually or in the aggregate, if decided adversely to its interests, would have a material adverse effect on its business, financial condition, liquidityor results of operations.

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Concentration of Credit Risk

6 Months Ended

Jun. 30, 2016

Risks And Uncertainties [Abstract]

Concentration of Credit Risk

8. Concentration of Credit Risk

The Company’s receivables are concentrated with major pharmaceutical companies. Credit risk is managed through the continuous monitoring of exposures with the Company’s clients. The Company does not require collateral or other security to support client receivables. For the three and six months ended June 30, 2016, Pfizer accounted for approximately 12% of the Company’s net revenues. For the three months ended June 30, 2015, Pfizer Inc. accounted for approximately 10% of the Company’s net revenues. No customer accounted for 10% or more of the Company’s net revenues for the six months ended June 30, 2015. As of June 30, 2016, one client represented approximately 10% of the accounts receivable balance.

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Common Stock and Stock Incentive Plans

6 Months Ended

Jun. 30, 2016

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Common Stock and Stock Incentive Plans

9. Common Stock and Stock Incentive Plans

On July 2, 2015 the Company’s Board of Directors granted new option awards to eligible employees in exchange for certain outstanding restricted stock units granted under the Group Holdings’ Equity Incentive Plan, on a one-for-one basis. Thirty-five percent of the options in the new award vest upon the passage of time and completion of a service requirement and sixty-five percent vests based upon achievement of certain specified performance targets and completion of a service requirement. Approximately 1,606,478 of the outstanding restricted stock units were exchanged in the program. The exchange was treated as a modification of the awards and no incremental stock compensation was recognized as the exchange securities were not considered probable of vesting on the date of the exchange. The Company recognizes the fair value of the new option awards in compensation expense over the service period to the extent that vesting of the awards is considered probable.

On March 25, 2016, the Company granted 1,147,154 share-based awards. Of these share-based awards, 1,106,956 represent options that vest thirty-five percent upon the passage of time and completion of a service requirement and sixty-five percent upon achievement of certain specified performance targets and completion of a service requirement. The remaining 40,198 share-based awards are comprised of restricted stock awards that vest if a liquidity event occurs such that the Investors achieve a defined return on their investment and options that vest based on the passage of time. The Company recognizes the fair value of the option awards in compensation expense over the service period to the extent that vesting of the awards is considered probable.

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Termination Benefits and Other Cost Reduction Actions

6 Months Ended

Jun. 30, 2016

Restructuring And Related Activities [Abstract]

Termination Benefits and Other Cost Reduction Actions

10. Termination Benefits and Other Cost Reduction Actions

The Company undertook certain actions to continue to implement cost containment measures and efficiency initiatives in an effort to better align operating costs with market and business conditions. Expenses related to these actions that include real estate consolidations, elimination of redundant functions and employees, are summarized below (in thousands):

	For the Three Months Ended June 30,				For the Six Months Ended June 30,
	2016		2015		2016		2015
Employee severance and related costs	$	2,342	$	3,545	$	5,087	$	6,124
Facilities-related costs		3,846		155		5,231		331
Total	$	6,188	$	3,700	$	10,318	$	6,455

For the three and six months ended June 30, 2016, restructuring costs of $1.1 million and $2.6 million, respectively, have been included in cost of revenues and $5.1 million and $7.7 million, respectively, have been included in SG&A expenses, respectively.  The $6.2 million of costs incurred in the three months ended June 30, 2016 includes $1.5 million of costs related to Clinical, $4.4 million related to Commercial and $0.3 million related to Corporate. The $10.3 million of costs incurred in the six months ended June 30, 2016 includes $2.7 million of costs related to Clinical, $7.3 million related to Commercial and $0.3 million related to Corporate. For the three and six months ended June 30, 2015, restructuring costs of $1.6 million and $2.9 million, respectively, have been included in cost of revenues and $2.1 million and $3.6 million, respectively, have been included in SG&A expenses, respectively.  The $3.7 million of costs incurred in the three months ended June 30, 2015 includes $0.6 million of costs related to Clinical and $3.1 million related to Commercial. The $6.5 million of costs incurred in the six months ended June 30, 2015 includes $1.6 million of costs related to Clinical, $4.8 million related to Commercial and $0.1 million related to Corporate.  

The following table summarizes the Company’s restructuring reserve as of June 30, 2016 and December 31, 2015 (in thousands):

	Balance at							Balance at
	December31,							June 30,
	2015		Net Costs		Cash Payments			2016
Employee severance and related costs	$	4,245	$	5,087	$	(6,331	)	$	3,001
Facilities-related costs		3,942		5,231		(2,214	)		6,959
Total	$	8,187	$	10,318	$	(8,545	)	$	9,960

The Company expects that severance payments accrued at June 30, 2016 will be paid within the next twelve months. Certain facility costs will be paid over the remaining lease term of the exited facilities through 2027.

The net costs in the table above exclude non-cash charges of approximately $0.5 million for the six months ended June 30, 2016 related to abandoned assets at certain facilities.

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Income Taxes

6 Months Ended

Jun. 30, 2016

Income Tax Disclosure [Abstract]

Income Taxes

11. Income Taxes

The Company accounts for income taxes at each interim period using its estimated annual effective tax rate. Discrete items and changes in the estimate of the annual effective tax rate are recorded in the period they occur. The consolidated effective tax rate was approximately (305.5%) and (10.0%) for the three months ended June 30, 2016 and 2015, respectively, and (99.4%) and (10.9%) for the six months ended June 30, 2016 and 2015, respectively. The income tax provision for the three and six months ended June 30, 2016 and 2015 reflects that the Company (i) continued to record a full valuation allowance for its domestic and certain foreign tax jurisdictions, (ii) recorded a tax provision for certain foreign and state jurisdictions that generated earnings, (iii) incurred a deferred tax provision in its domestic jurisdiction arising from taxable temporary differences related to amortization of indefinite-lived intangible assets and goodwill, and (iv) recorded changes in unrecognized tax benefits (including related penalties and interest) as they occur. 

The Company provides a valuation allowance to reduce deferred tax assets to their estimated realizable value if, based on the weight of all available evidence, it is not more likely than not that a portion or all of the deferred tax assets will be realized. The Company does not expect to record significant tax benefits on future domestic net operating losses until circumstances justify the recognition of such benefits.

As a result of the domestic valuation allowance, taxable temporary differences from the amortization of goodwill and indefinite-lived intangible assets are expected to result in $8.5 million of income tax expense for 2016, and are reflected in the Company’s estimated domestic annual effective tax rate. Goodwill and indefinite-lived intangible assets are amortized for income tax purposes, but not for financial statement reporting purposes. This difference results in net deferred income tax expense since the taxable temporary difference cannot be scheduled to reverse during the loss carryforward period. The Company will record tax expense related to the amortization of its tax deductible goodwill and indefinite-lived intangible assets during those future periods for which it maintains domestic valuation allowances, or until its estimated unamortized balance of $111.4 million at December 31, 2016 is fully amortized for tax purposes.

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Related Parties

6 Months Ended

Jun. 30, 2016

Related Party Transactions [Abstract]

Related Parties

12. Related Parties

Management Arrangements

Upon completion of the THL Acquisition, the Company entered into a management agreement (“THL Management Agreement”) with THL Managers VI, LLC (“THL Managers”), in which THL Managers agreed to provide management services to the Company until the tenth anniversary of the consummation of the THL Acquisition with evergreen one-year extensions thereafter. Pursuant to the THL Management Agreement, THL Managers will receive an aggregate annual management fee in an amount per year equal to the greater of (a) $2.5 million or (b) 1.5% of EBITDA, as defined in the THL Management Agreement. In addition, the Company will reimburse out-of-pocket expenses, including travel related costs, incurred by THL Managers. The Company recognized $1.0 million and $0.7 million in management fees and related costs for the three months ended June 30, 2016 and 2015, respectively, and $1.9 million and $1.4 million for the six months ended June 30, 2016 and 2015, respectively.

The management agreement with the THL Managers includes customary exculpation and indemnification provisions in favor of the THL Managers and their affiliates. The THL Managers may terminate their management agreement at any time. The THL Managers’ management agreement will terminate automatically upon an initial public offering or a change of control. Upon termination due to an initial public offering or a change of control, the THL Managers will be entitled to a termination fee based on the net present value of their annual fee due during the remaining period from the date of termination to the then applicable scheduled date of termination of their management agreement.

Upon completion of the THL Acquisition, the Company entered into a management agreement with Liberty Lane IH LLC (“Liberty Lane”), in which Liberty Lane agreed to provide management services to the Company. Mr. Meister, the Company’s former Chief Executive Officer, is affiliated with Liberty Lane. Pursuant to the agreement, Liberty Lane or its affiliates received an aggregate annual management fee in an amount per year equal to $1.0 million. On December 5, 2012, the agreement was amended to lower the per year management fee to $0.8 million beginning January 1, 2013. The agreement was terminated in the second quarter of 2015 with an effective date of September 24, 2014 to reflect Mr. Meister’s resignation as Chief Executive Officer. The Company reversed management fees of $0.2 million for the three months ended June 30, 2015 and no net fees were incurred for the six months ended June 30, 2015.

On November 12, 2012, the Human Capital and Compensation Committee of Group Holdings granted to Liberty Lane options to purchase shares of Common Stock equal to approximately 1.4% of the fully diluted equity of Group Holdings. The options would have vested if a liquidity event occurred such that the Investors achieved a certain return on their investment. These awards were cancelled in the second quarter of 2015 to reflect Mr. Meister’s resignation as Chief Executive Officer, and the Company issued 38,054 Multiple of Money (“MoM”) Option Awards to Mr. Meister during 2015.

At June 30, 2016, the Company had outstanding receivables from Group Holdings in the amount of $3.4 million, which was included in due from parent within stockholder’s deficit in the Company’s condensed consolidated balance sheet.

Commercial Transactions

There were three entities for the three and six months ended June 30, 2016 and four entities for the three and six months ended June 30, 2015 in which THL or its affiliates held a 10% or greater interest that provided services exceeding $120,000 in value to the Company. The services included facilities management, audio conferencing and information technology services in 2015 and information technology services in 2016.  The aggregate fees for these services were $0.2 million and $1.1 million for the three months ended June 30, 2016 and 2015, respectively, and $0.6 million and $2.7 million for the six months ended June 30, 2016 and 2015, respectively,

One of the Company’s directors, Blane Walter, acquired a 10% or greater interest in and became a director of an entity in 2013 which provided relationship enterprise technology solutions to the Company exceeding $120,000 in value over the previous twelve month period.  No services were provided for the three and six months ended June 30, 2016 and services for fees of less than $0.1 million and $1.8 million were provided for the three and six months ended June 30, 2015.

Debt Instruments

In 2014, affiliates of Thomas H. Lee Partners, L.P., Liberty Lane and Blane Walter purchased $25.0 million of Junior Lien Secured Notes and $26.3 million of the Company’s 10% Senior Unsecured Notes due 2018 for a total consideration of $50.0 million as described in Note 6.

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Fair Value Measurements

6 Months Ended

Jun. 30, 2016

Fair Value Disclosures [Abstract]

Fair Value Measurements

13. Fair Value Measurements

The Company’s financial instruments include cash and cash equivalents, accounts receivables, unbilled services, accounts payable, short-term borrowings, capital leases and other financing arrangements as well as deferred revenues and client advances. Due to the short-term nature of such instruments, the Company believes their carrying values approximate fair value. Please refer to Note 6 for discussion of the Company’s debt instruments.

The Company’s contingent consideration obligations are carried at fair value considering the Company’s best estimates as to the probable timing and amount of settlement (level 3 within the fair value hierarchy). As of June 30, 2016, the contingent consideration obligations had an aggregate fair value of $0.2 million, which is included in accrued expenses in the consolidated balance sheets.

The Company’s deferred compensation plan provides eligible management and other highly compensated employees with the opportunity to defer their compensation and to receive the deferred amounts in the future or upon termination of employment with the Company. The Company invests in the underlying mutual fund investments available to plan participants through investments held in a rabbi trust, which generally offset the liability associated with the deferred compensation plan. These securities are classified as trading securities and carried at fair value (level 1 within the fair value hierarchy) of $12.2 million and $10.8 million as of June 30, 2016 and December 31, 2015 and included in other assets in the consolidated balance sheets. Gains and losses are included in SG&A expenses.

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Segment Information

6 Months Ended

Jun. 30, 2016

Segment Reporting [Abstract]

Segment Information

14. Segment Information

The Company provides services through two reportable segments, Clinical and Commercial. Each reportable business segment is comprised of multiple service offerings that, when combined, create a fully integrated biopharmaceutical outsourced services provider. Clinical provides a continuum of services spanning phases I-IV of clinical development. Commercial, provides commercialization, medication adherence and consulting services to biopharmaceutical companies.  The Clinical and Commercial segments provide services to the other segments primarily in connection with the delivery of services to the end client. The Company accounts for intersegment sales on prices that management considers to be consistent with market pricing.  Total intersegment sales from Clinical to Commercial was $0.1 million and $0.7 million for the three months ended June 30, 2016 and 2015, respectively, and $0.2 million and $1.3 million for the six months ended June 30, 2016 and 2015, respectively.  Total intersegment sales from Commercial to Clinical or Corporate and other was $4.7 million and $3.0 million for the three months ended June 30, 2016 and 2015, respectively, and $9.1 million and $5.6 million for the six months ended June 30, 2016 and 2015, respectively.

Management measures and evaluates the Company’s operating segments based on segment net revenues and adjusted operating income.  The results of these reportable business segments are regularly reviewed by the Company’s chief operating decision maker, the Chief Executive Officer.  Certain costs are excluded from segment operating income because management evaluates the operating results of the segments excluding such charges.  These items include depreciation and amortization; certain foreign currency impacts; net charges associated with acquisitions; certain legal charges, net of insurance recoveries; certain asset impairment charges; stock-based compensation; as well as corporate and other unallocated expenses.  The Corporate and other unallocated expenses primarily consist of expenses for corporate overhead functions such as finance, human resources, information technology, facilities and legal; restructuring and related charges; and certain expenses incurred in connection with the management agreements with affiliates of certain shareholders of the Parent.  Although these amounts are excluded from adjusted segment operating income, as applicable, they are included in reported consolidated operating loss and in the reconciliations presented below.  

The Company has an agreement to provide commercialization services to a biopharmaceutical client for launch of certain products in return for a royalty on the client’s net revenues. The results of this arrangement are included in Corporate and other as the contract is managed and evaluated on a corporate level. As these activities were included in the Commercial segment prior to the three months ended September 30, 2015, segment information for the three and six months ended June 30, 2015 has been restated to include these results in Corporate and other and Commercial recognized intersegment revenues related to performing services under this arrangement. The substantial majority of the intersegment sales from Commercial to Corporate and other for both 2015 and 2016 is related to providing services for this arrangement. The amount of costs included in Corporate and other related to this arrangement was $5.7 million and $0.8 million for the three months ended June 30, 2016 and 2015, respectively, and $10.1 million and $1.3 million for the six months ended June 30, 2016 and 2015, respectively.

Selected information for each reportable segment is as follows (in thousands):

	For the Three Months Ended June 30,						For the Six Months Ended June 30,
	2016			2015			2016			2015
Net Revenues
Clinical	$	259,907		$	233,582		$	514,766		$	453,246
Commercial		305,908			259,462			596,834			494,008
Intersegment revenues		(4,793	)		(3,627	)		(9,282	)		(6,860	)
Consolidated net revenues	$	561,022		$	489,417		$	1,102,318		$	940,394
Adjusted Segment Operating Income (Loss)
Clinical	$	42,802		$	28,469		$	85,538		$	54,118
Commercial		54,028			42,898			102,948			74,777
Corporate and other		(13,661	)		(10,096	)		(25,985	)		(18,994	)
Reportable segments adjusted operating     income (loss)		83,169			61,271			162,501			109,901
Depreciation and amortization		(22,201	)		(23,908	)		(45,964	)		(48,911	)
Stock-based compensation		(1,560	)		(45	)		(2,977	)		(515	)
Other unallocated charges		(6,077	)		(7,686	)		(15,065	)		(13,285	)
Operating income (loss)		53,331			29,632			98,495			47,190
Interest income (expense), net		(54,413	)		(57,120	)		(110,266	)		(113,583	)
Gain on extinguishment of debt		—			—			221			—
Income (loss) before income tax     (provision) benefit and income     (loss) from equity investments	$	(1,082	)	$	(27,488	)	$	(11,550	)	$	(66,393	)

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Guarantor Financial Information

6 Months Ended

Jun. 30, 2016

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Guarantor Financial Information

15. Guarantor Financial Information

Borrowings under each of our Senior Secured Credit Facilities, ABL Facility, Senior Secured Notes, Junior Lien Secured Notes and Senior Unsecured Notes are guaranteed by certain of the Company’s domestic wholly-owned subsidiaries (the “Guarantor Subsidiaries”). The guarantees are full and unconditional and joint and several. The Company’s Senior Secured Credit Facility, ABL Facility, Senior Secured Notes, Junior Lien Secured Notes and Senior Unsecured Notes are not guaranteed by certain of the Company’s subsidiaries, including all of its non-U.S. subsidiaries or non-wholly owned subsidiaries. The following supplemental financial information sets forth, on a condensed consolidating basis, balance sheet information, results of operations, comprehensive loss and cash flow information for inVentiv Health, Inc., the Guarantor Subsidiaries and other subsidiaries (the “Non-Guarantor Subsidiaries”). The supplemental financial information reflects the investments of inVentiv Health, Inc.’s investment in the Guarantor Subsidiaries and Non-Guarantor Subsidiaries using the equity method of accounting.

Subsequent to the issuance of the June 30, 2015 condensed consolidated financial statements, management determined that within the condensed consolidating statement of cash flows, certain intercompany transfers historically presented on a gross basis within operating, investing and financing activities represent centralized treasury activities that are more appropriately presented on a net basis within investing and financing activities between the respective parent, guarantor, and non guarantor entities. The aforementioned items have been corrected in the condensed consolidating statements of cash flows for the six months ended June 30, 2015. The corrections had no impact on the Company’s consolidated financial position, results of operations or cash flows.

15. Guarantor Financial Information (Continued)

CONDENSED CONSOLIDATING BALANCE SHEET INFORMATION
At June 30, 2016
(in thousands, except share and per share amounts)
	inVentiv			Guarantor		Non-Guarantor
	Health, Inc.			Subsidiaries		Subsidiaries		Eliminations			Total
ASSETS
Current assets:
Cash and cash equivalents	$	74,624		$	—	$	114,186	$	(92,933	)	$	95,877
Restricted cash		946			—		844		—			1,790
Accounts receivable, net of allowances for    doubtful accounts		—			321,872		55,597		—			377,469
Unbilled services		—			206,879		37,192		—			244,071
Intercompany receivables		507,192			859,832		125,857		(1,492,881	)		—
Prepaid expenses and other current assets		5,557			13,642		24,080		—			43,279
Income tax receivable		26			—		1,385		—			1,411
Total current assets		588,345			1,402,225		359,141		(1,585,814	)		763,897
Property and equipment, net		19,354			99,675		19,316		—			138,345
Goodwill		—			855,317		42,124		—			897,441
Intangible assets, net		—			310,381		6,750		—			317,131
Non-current deferred tax assets		—			—		10,341		—			10,341
Other assets		20,365			4,046		15,484		—			39,895
Non-current intercompany receivables		442,077			27,167		—		(469,244	)		—
Investment in consolidated subsidiaries		726,602			111,817		—		(838,419	)		—
Total assets	$	1,796,743		$	2,810,628	$	453,156	$	(2,893,477	)	$	2,167,050
LIABILITIES AND STOCKHOLDER’S DEFICIT
Current liabilities:
Current portion of capital lease obligations and    other financing arrangements	$	457		$	24,174	$	87,145	$	(87,064	)	$	24,712
Accrued payroll, accounts payable and accrued    expenses		94,428			200,337		65,502		(5,870	)		354,397
Intercompany payables		929,017			544,148		19,715		(1,492,880	)		—
Income taxes payable		—			432		5,168		—			5,600
Deferred revenue and client advances		—			181,626		55,507		—			237,133
Total current liabilities		1,023,902			950,717		233,037		(1,585,814	)		621,842
Capital lease obligations, net of current portion		—			47,011		140		—			47,151
Long-term debt, net of current portion		1,551,286			570,275		—		—			2,121,561
Non-current income tax liability		—			4,806		2,764		—			7,570
Deferred tax liability		74			78,155		1,702		—			79,931
Other non-current liabilities		14,269			41,591		24,481		—			80,341
Non-current intercompany liabilities		—			442,071		27,173		(469,244	)		—
Total liabilities		2,589,531			2,134,626		289,297		(2,055,058	)		2,958,396
Total inVentiv Health, Inc. stockholder’s deficit		(792,788	)		676,002		162,417		(838,419	)		(792,788	)
Noncontrolling interest		—			—		1,442		—			1,442
Total stockholder’s deficit		(792,788	)		676,002		163,859		(838,419	)		(791,346	)
Total liabilities and stockholder’s deficit	$	1,796,743		$	2,810,628	$	453,156	$	(2,893,477	)	$	2,167,050

15. Guarantor Financial Information (Continued)

CONDENSED CONSOLIDATING BALANCE SHEET INFORMATION

At December 31, 2015

(in thousands, except share and per share amounts)

	inVentiv			Guarantor		Non-Guarantor
	Health, Inc.			Subsidiaries		Subsidiaries		Eliminations			Total
ASSETS
Current assets:
Cash and cash equivalents	$	55,226		$	—	$	148,970	$	(82,879	)	$	121,317
Restricted cash		226			—		1,381		—			1,607
Accounts receivable, net of allowances for    doubtful accounts		—			292,548		66,533		—			359,081
Unbilled services		—			174,070		33,395		—			207,465
Intercompany receivables		529,457			840,499		18,211		(1,388,167	)		—
Prepaid expenses and other current assets		8,839			11,401		22,690		—			42,930
Income tax receivable		104			—		1,076		(104	)		1,076
Total current assets		593,852			1,318,518		292,256		(1,471,150	)		733,476
Property and equipment, net		23,227			101,507		17,298		—			142,032
Goodwill		—			855,317		40,052		—			895,369
Intangible assets, net		—			328,239		6,407		—			334,646
Non-current deferred tax assets		—			—		10,032		—			10,032
Other assets		19,084			4,491		13,559		—			37,134
Non-current intercompany receivables		416,161			29,235		35,021		(480,417	)		—
Investment in consolidated subsidiaries		676,479			93,191		—		(769,670	)		—
Total assets	$	1,728,803		$	2,730,498	$	414,625	$	(2,721,237	)	$	2,152,689
LIABILITIES AND STOCKHOLDER’S DEFICIT
Current liabilities:
Current portion of capital lease obligations and    other financing arrangements	$	1,936		$	21,324	$	73,355	$	(73,282	)	$	23,333
Accrued payroll, accounts payable and accrued    expenses		71,953			200,063		71,307		(9,597	)		333,726
Intercompany payables		820,965			542,500		24,702		(1,388,167	)		—
Income taxes payable		—			165		5,423		(104	)		5,484
Deferred revenue and client advances		—			190,828		55,828		—			246,656
Total current liabilities		894,854			954,880		230,615		(1,471,150	)		609,199
Capital lease obligations, net of current portion		—			45,247		11		—			45,258
Long-term debt, net of current portion		1,533,197			568,688		—		—			2,101,885
Non-current income tax liability		—			4,806		1,136		—			5,942
Deferred tax liability		74			73,047		239		—			73,360
Other non-current liabilities		38,494			30,896		18,763		—			88,153
Non-current intercompany liabilities		34,920			416,260		29,237		(480,417	)		—
Total liabilities		2,501,539			2,093,824		280,001		(1,951,567	)		2,923,797
Total inVentiv Health, Inc. stockholder’s deficit		(772,736	)		636,674		132,996		(769,670	)		(772,736	)
Noncontrolling interest		—			—		1,628		—			1,628
Total stockholder’s deficit		(772,736	)		636,674		134,624		(769,670	)		(771,108	)
Total liabilities and stockholder’s deficit	$	1,728,803		$	2,730,498	$	414,625	$	(2,721,237	)	$	2,152,689

15. Guarantor Financial Information (Continued)

CONSOLIDATING STATEMENT OF OPERATIONS
For the Three Months Ended June 30, 2016
(in thousands)
	inVentiv			Guarantor			Non-Guarantor
	Health, Inc.			Subsidiaries			Subsidiaries			Eliminations			Total
Net revenues	$	—		$	432,250		$	137,165		$	(8,393	)	$	561,022
Reimbursed out-of-pocket expenses		—			73,151			9,678			(5	)		82,824
Total revenues		—			505,401			146,843			(8,398	)		643,846
Operating expenses:
Cost of revenues		—			312,576			85,031			(7,872	)		389,735
Reimbursable out-of-pocket expenses		—			73,151			9,678			(5	)		82,824
Selling, general and administrative expenses		16,822			67,336			34,319			(521	)		117,956
Allocation of intercompany costs		(13,898	)		10,921			2,977			—			—
Total operating expenses		2,924			463,984			132,005			(8,398	)		590,515
Operating income (loss)		(2,924	)		41,417			14,838			—			53,331
Gain on extinguishment of debt		—			—			—			—			—
Interest income (expense), net		(42,394	)		(12,209	)		190			—			(54,413	)
Intercompany interest income (expense)		13,369			(13,103	)		(266	)		—			—
Income (loss) before income tax (provision)    benefit and income (loss) from equity    investments		(31,949	)		16,105			14,762			—			(1,082	)
Income tax (provision) benefit		—			(403	)		(2,902	)		—			(3,305	)
Income (loss) before income (loss) from equity    investments		(31,949	)		15,702			11,860			—			(4,387	)
Income (loss) from equity investments		27,475			9,554			—			(37,025	)		4
Net income (loss)		(4,474	)		25,256			11,860			(37,025	)		(4,383	)
Less: Net (income) loss attributable to the    noncontrolling interest		—			—			(91	)		—			(91	)
Net income (loss) attributable to    inVentiv Health, Inc.	$	(4,474	)	$	25,256		$	11,769		$	(37,025	)	$	(4,474	)

15. Guarantor Financial Information (Continued)

CONSOLIDATING STATEMENT OF OPERATIONS
For the Three Months Ended June 30, 2015
(in thousands)
	inVentiv			Guarantor			Non-Guarantor
	Health, Inc.			Subsidiaries			Subsidiaries			Eliminations			Total
Net revenues	$	—		$	382,908		$	112,927		$	(6,418	)	$	489,417
Reimbursed out-of-pocket expenses		—			68,450			14,689			(62	)		83,077
Total revenues		—			451,358			127,616			(6,480	)		572,494
Operating expenses:
Cost of revenues		—			255,110			77,005			(5,885	)		326,230
Reimbursable out-of-pocket expenses		—			68,450			14,689			(62	)		83,077
Selling, general and administrative expenses		20,491			80,661			32,936			(533	)		133,555
Allocation of intercompany costs		(9,899	)		7,935			1,964			—			—
Total operating expenses		10,592			412,156			126,594			(6,480	)		542,862
Operating income (loss)		(10,592	)		39,202			1,022			—			29,632
Interest income (expense), net		(45,006	)		(12,279	)		165			—			(57,120	)
Intercompany interest income (expense)		11,801			(11,554	)		(247	)		—			—
Income (loss) before income tax (provision)    benefit and income (loss) from equity    investments		(43,797	)		15,369			940			—			(27,488	)
Income tax (provision) benefit		—			(1,650	)		(1,088	)		—			(2,738	)
Income (loss) before income (loss) from equity    investments		(43,797	)		13,719			(148	)		—			(30,226	)
Income (loss) from equity investments		13,566			(976	)		—			(12,352	)		238
Net income (loss)		(30,231	)		12,743			(148	)		(12,352	)		(29,988	)
Less: Net (income) loss attributable to the    noncontrolling interest		—			—			(243	)		—			(243	)
Net income (loss) attributable to inVentiv    Health, Inc.	$	(30,231	)	$	12,743		$	(391	)	$	(12,352	)	$	(30,231	)

15. Guarantor Financial Information (Continued)

CONSOLIDATING STATEMENT OF OPERATIONS
For the Six Months Ended June 30, 2016
(in thousands)
	inVentiv			Guarantor			Non-Guarantor
	Health, Inc.			Subsidiaries			Subsidiaries			Eliminations			Total
Net revenues	$	—		$	851,586		$	267,098		$	(16,366	)	$	1,102,318
Reimbursed out-of-pocket expenses		—			156,969			16,892			(54	)		173,807
Total revenues		—			1,008,555			283,990			(16,420	)		1,276,125
Operating expenses:
Cost of revenues		—			612,968			164,329			(15,186	)		762,111
Reimbursable out-of-pocket expenses		—			156,969			16,892			(54	)		173,807
Selling, general and administrative expenses		37,951			138,705			66,236			(1,180	)		241,712
Allocation of intercompany costs		(27,797	)		21,836			5,961			—			—
Total operating expenses		10,154			930,478			253,418			(16,420	)		1,177,630
Operating income (loss)		(10,154	)		78,077			30,572			—			98,495
Gain on extinguishment of debt		221			—			—			—			221
Interest income (expense), net		(86,225	)		(24,486	)		445			—			(110,266	)
Intercompany interest income (expense)		26,344			(25,818	)		(526	)		—			—
Income (loss) before income tax (provision)    benefit and income (loss) from equity    investments		(69,814	)		27,773			30,491			—			(11,550	)
Income tax (provision) benefit		—			(5,548	)		(5,933	)		—			(11,481	)
Income (loss) before income (loss) from equity    investments		(69,814	)		22,225			24,558			—			(23,031	)
Income (loss) from equity investments		46,263			20,128			—			(66,382	)		9
Net income (loss)		(23,551	)		42,353			24,558			(66,382	)		(23,022	)
Less: Net (income) loss attributable to the    noncontrolling interest		—			—			(529	)		—			(529	)
Net income (loss) attributable to    inVentiv Health, Inc.	$	(23,551	)	$	42,353		$	24,029		$	(66,382	)	$	(23,551	)

15. Guarantor Financial Information (Continued)

CONSOLIDATING STATEMENT OF OPERATIONS
For the Six Months Ended June 30, 2015
(in thousands)
	inVentiv			Guarantor			Non-Guarantor
	Health, Inc.			Subsidiaries			Subsidiaries			Eliminations			Total
Net revenues	$	—		$	729,889		$	222,678		$	(12,173	)	$	940,394
Reimbursed out-of-pocket expenses		—			128,066			22,472			(138	)		150,400
Total revenues		—			857,955			245,150			(12,311	)		1,090,794
Operating expenses:
Cost of revenues		—			491,573			146,309			(11,147	)		626,735
Reimbursable out-of-pocket expenses		—			128,066			22,472			(138	)		150,400
Selling, general and administrative expenses		36,578			165,200			65,717			(1,026	)		266,469
Allocation of intercompany costs		(19,799	)		15,879			3,920			—			—
Total operating expenses		16,779			800,718			238,418			(12,311	)		1,043,604
Operating income (loss)		(16,779	)		57,237			6,732			—			47,190
Interest income (expense), net		(89,404	)		(24,448	)		269			—			(113,583	)
Intercompany interest income (expense)		22,923			(22,526	)		(397	)		—			—
Income (loss) before income tax (provision)    benefit and income (loss) from equity    investments		(83,260	)		10,263			6,604			—			(66,393	)
Income tax (provision) benefit		—			(4,625	)		(2,641	)		—			(7,266	)
Income (loss) before income (loss) from equity    investments		(83,260	)		5,638			3,963			—			(73,659	)
Income (loss) from equity investments		7,944			654			—			(9,889	)		(1,291	)
Net income (loss)		(75,316	)		6,292			3,963			(9,889	)		(74,950	)
Less: Net (income) loss attributable to the    noncontrolling interest		—			—			(366	)		—			(366	)
Net income (loss) attributable to inVentiv    Health, Inc.	$	(75,316	)	$	6,292		$	3,597		$	(9,889	)	$	(75,316	)

15. Guarantor Financial Information (Continued)

CONSOLIDATING STATEMENT OF COMPREHENSIVE LOSS
For the Three Months Ended June 30, 2016
(in thousands)
	inVentiv			Guarantor			Non-Guarantor
	Health, Inc.			Subsidiaries			Subsidiaries			Eliminations			Total
Net income (loss)	$	(4,474	)	$	25,256		$	11,860		$	(37,025	)	$	(4,383	)
Other comprehensive income (loss):
Foreign currency translation adjustment		(1,560	)		(5,688	)		383			5,305			(1,560	)
Total other comprehensive income (loss)		(1,560	)		(5,688	)		383			5,305			(1,560	)
Total comprehensive income (loss)		(6,034	)		19,568			12,243			(31,720	)		(5,943	)
Less: Comprehensive (income) loss    attributable to the noncontrolling interest		—			—			(91	)		—			(91	)
Total comprehensive income (loss) attributable to    inVentiv Health, Inc.	$	(6,034	)	$	19,568		$	12,152		$	(31,720	)	$	(6,034	)

15. Guarantor Financial Information (Continued)

CONSOLIDATING STATEMENT OF COMPREHENSIVE LOSS
For the Three Months Ended June 30, 2015
(in thousands)
	inVentiv			Guarantor		Non-Guarantor
	Health, Inc.			Subsidiaries		Subsidiaries			Eliminations			Total
Net income (loss)	$	(30,231	)	$	12,743	$	(148	)	$	(12,352	)	$	(29,988	)
Other comprehensive income (loss):
Foreign currency translation adjustment		4,218			5,113		2,596			(7,709	)		4,218
Total other comprehensive income (loss)		4,218			5,113		2,596			(7,709	)		4,218
Total comprehensive income (loss)		(26,013	)		17,856		2,448			(20,061	)		(25,770	)
Less: Comprehensive (income) loss    attributable to the noncontrolling interest		—			—		(243	)		—			(243	)
Total comprehensive income (loss) attributable to    inVentiv Health, Inc.	$	(26,013	)	$	17,856	$	2,205		$	(20,061	)	$	(26,013	)

15. Guarantor Financial Information (Continued)

CONSOLIDATING STATEMENT OF COMPREHENSIVE LOSS
For the Six Months Ended June 30, 2016
(in thousands)
	inVentiv			Guarantor			Non-Guarantor
	Health, Inc.			Subsidiaries			Subsidiaries			Eliminations			Total
Net income (loss)	$	(23,551	)	$	42,353		$	24,558		$	(66,382	)	$	(23,022	)
Other comprehensive income (loss):
Foreign currency translation adjustment		3,859			(3,026	)		6,502			(3,476	)		3,859
Total other comprehensive income (loss)		3,859			(3,026	)		6,502			(3,476	)		3,859
Total comprehensive income (loss)		(19,692	)		39,327			31,060			(69,858	)		(19,163	)
Less: Comprehensive (income) loss    attributable to the noncontrolling interest		—			—			(529	)		—			(529	)
Total comprehensive income (loss) attributable to    inVentiv Health, Inc.	$	(19,692	)	$	39,327		$	30,531		$	(69,858	)	$	(19,692	)

15. Guarantor Financial Information (Continued)

CONSOLIDATING STATEMENT OF COMPREHENSIVE LOSS
For the Six Months Ended June 30, 2015
(in thousands)
	inVentiv			Guarantor			Non-Guarantor
	Health, Inc.			Subsidiaries			Subsidiaries			Eliminations			Total
Net income (loss)	$	(75,316	)	$	6,292		$	3,963		$	(9,889	)	$	(74,950	)
Other comprehensive income (loss):
Foreign currency translation adjustment		(1,227	)		(322	)		(1,415	)		1,737			(1,227	)
Total other comprehensive income (loss)		(1,227	)		(322	)		(1,415	)		1,737			(1,227	)
Total comprehensive income (loss)		(76,543	)		5,970			2,548			(8,152	)		(76,177	)
Less: Comprehensive (income) loss    attributable to the noncontrolling interest		—			—			(366	)		—			(366	)
Total comprehensive income (loss) attributable to    inVentiv Health, Inc.	$	(76,543	)	$	5,970		$	2,182		$	(8,152	)	$	(76,543	)

15. Guarantor Financial Information (Continued)

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
For the Six Months Ended June 30, 2016
(in thousands)
	inVentiv			Guarantor			Non-Guarantor
	Health, Inc.			Subsidiaries			Subsidiaries			Eliminations			Total
Cash flows from operating activities:
Net cash provided by (used in) operating    activities	$	(67,876	)	$	61,218		$	37,813		$	(5,873	)	$	25,282
Cash flows from investing activities:
Purchases of property and equipment		(2,464	)		(4,648	)		(5,505	)		—			(12,617	)
Proceeds from vehicle sales and rebates on    vehicle leases		—			8,320			—			—			8,320
Intercompany transfers		117,196			20,386			—			(137,582	)		—
Other, net		(720	)		—			472			—			(248	)
Net cash provided by (used in) investing activities		114,012			24,058			(5,033	)		(137,582	)		(4,545	)
Cash flows from financing activities:
Repayments on capital leases and other    financing arrangements		(1,942	)		(18,495	)		125			—			(20,312	)
Repurchase of Notes		(22,790	)		—			—			—			(22,790	)
Payment on installment note and contingent    consideration related to acquisition		(2,322	)		—			—			—			(2,322	)
Intercompany transfers		—			(66,781	)		(66,620	)		133,401			—
Payments to parent		(173	)		—			—			—			(173	)
Other, net		489			—			(715	)		—			(226	)
Net cash provided by (used in) financing activities		(26,738	)		(85,276	)		(67,210	)		133,401			(45,823	)
Effects of foreign currency exchange rate changes    on cash		—			—			(354	)		—			(354	)
Net increase (decrease) in cash and cash    equivalents		19,398			—			(34,784	)		(10,054	)		(25,440	)
Cash and cash equivalents, beginning of period		55,226			—			148,970			(82,879	)		121,317
Cash and cash equivalents, end of period	$	74,624		$	—		$	114,186		$	(92,933	)	$	95,877

15. Guarantor Financial Information (Continued)

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
For the Six Months Ended June 30, 2015
(in thousands)
	inVentiv			Guarantor			Non-Guarantor
	Health, Inc.			Subsidiaries			Subsidiaries			Eliminations			Total
Cash flows from operating activities:
Net cash provided by (used in) operating    activities	$	(81,925	)	$	99,468		$	12,189		$	(4,925	)	$	24,807
Cash flows from investing activities:
Purchases of property and equipment		(6,599	)		(10,285	)		(2,924	)		—			(19,808	)
Proceeds from vehicle sales and rebates on    vehicle leases		—			6,826			—			—			6,826
Intercompany transfers		107,905			27,120			—			(135,025	)		—
Other, net		(32	)		—			—			—			(32	)
Net cash provided by (used in) investing activities		101,274			23,661			(2,924	)		(135,025	)		(13,014	)
Cash flows from financing activities:
Repayments on capital leases and other    financing arrangements		(1,965	)		(12,726	)		(252	)		—			(14,943	)
Borrowings under line of credit		153,000			—			—						153,000
Repayments on line of credit		(153,000	)		—			—			—			(153,000	)
Payment on installment note and contingent    consideration related to acquisition		(2,082	)		—			—			—			(2,082	)
Intercompany transfers		—			(113,842	)		14,263			99,579			—
Other, net		38			—			(508	)		—			(470	)
Net cash provided by (used in) financing activities		(4,009	)		(126,568	)		13,503			99,579			(17,495	)
Effects of foreign currency exchange rate changes    on cash		—			—			238			—			238
Net increase (decrease) in cash and cash    equivalents		15,340			(3,439	)		23,006			(40,371	)		(5,464	)
Cash and cash equivalents, beginning of period		19,643			3,439			86,014			(52,037	)		57,059
Cash and cash equivalents, end of period	$	34,983		$	—		$	109,020		$	(92,408	)	$	51,595

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Subsequent Events

6 Months Ended

Jun. 30, 2016

Subsequent Events [Abstract]

Subsequent Events

16.Subsequent Events

The Company’s Board of Directors approved a 10.8-for-1 split of the Company’s common stock that was

effected July 29, 2016. All share and per share data shown in the accompanying condensed consolidated financial statements and notes have been revised to retrospectively reflect the stock split.

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Basis of Presentation (Policies)

6 Months Ended

Jun. 30, 2016

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Reclassifications

Reclassifications

In the Company’s 2015 consolidated financial statements, the Company reclassified certain costs from selling, general and administrative (“SG&A”) expenses to cost of revenues to conform to the presentation adopted for 2016. The revised classification aligns all personnel and related costs associated with service delivery within cost of revenues, along with the associated information technology costs supporting these processes.  These changes better harmonize the accounting policies of the group, and are consistent with how management is assessing performance and managing costs. As a result of the revision in the classification of the costs, the previously reported SG&A was reduced by $7.9 million and $17.2 million, respectively, for the three and six months ended June 30, 2015, and cost of revenues has increased by a corresponding amount.  The reclassification had no impact on our consolidated financial position, net operating results included in our statements of operations or cash flows. The Company also aggregated the presentation of certain line items in the consolidated statement of cash flows for the six months ended June 30, 2015 to conform to the current year presentation.

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Goodwill (Tables)

6 Months Ended

Jun. 30, 2016

Goodwill And Intangible Assets Disclosure [Abstract]

Schedule of Carrying Amount of Goodwill

The following table sets forth the carrying amount of goodwill for each segment as of June 30, 2016 and December 31, 2015 (in thousands):

	Clinical			Commercial		Total
Net goodwill at December 31, 2015	$	382,215		$	513,154	$	895,369
Foreign currency translation		(40	)		2,112		2,072
Net goodwill at June 30, 2016	$	382,175		$	515,266	$	897,441

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Intangible Assets (Tables)

6 Months Ended

Jun. 30, 2016

Goodwill And Intangible Assets Disclosure [Abstract]

Schedule of Carrying Amount of Intangible Assets

The following table sets forth the carrying amount of the Company’s intangible assets as of June 30, 2016 and December 31, 2015 (in thousands):

	June 30, 2016							December 31, 2015
			Accumulated							Accumulated
	Gross		Amortization			Net		Gross		Amortization			Net
Customer relationships	$	366,268	$	(164,093	)	$	202,175	$	365,777	$	(148,679	)	$	217,098
Technology		27,214		(26,559	)		655		27,003		(26,206	)		797
Tradenames subject to amortization		18,310		(16,894	)		1,416		18,293		(16,657	)		1,636
Backlog		95,050		(92,144	)		2,906		95,014		(89,427	)		5,587
Other		1,020		(645	)		375		1,020		(585	)		435
Total finite-lived intangible assets		507,862		(300,335	)		207,527		507,107		(281,554	)		225,553
Tradenames not subject to amortization		109,604		—			109,604		109,093		—			109,093
Total intangible assets	$	617,466	$	(300,335	)	$	317,131	$	616,200	$	(281,554	)	$	334,646

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Debt (Tables)

6 Months Ended

Jun. 30, 2016

Debt Disclosure [Abstract]

Summary of Debt

The Company’s indebtedness is summarized as follows (in thousands):

	June 30,			December 31,
	2016			2015
Senior Secured Credit Facilities:
Term Loan Facility B3 loans, due 2018	$	129,645		$	129,645
Term Loan Facility B4 loans, due 2018		445,694			445,694
Senior Secured Notes, due 2018		625,000			625,000
ABL Facility		—			—
Junior Lien Secured Notes, due 2018		579,837			569,691
Senior Unsecured Notes, due 2018		376,316			376,316
International Facility		—			—
Capital leases and other financing arrangements		71,863			68,591
Total borrowings		2,228,355			2,214,937
Less: unamortized premium (discount)		(7,174	)		(9,030	)
Less: unamortized deferred financing costs		(27,757	)		(35,431	)
Less: current portion of capital leases and other financing    arrangements		(24,712	)		(23,333	)
Total long-term borrowings, net of current portion	$	2,168,712		$	2,147,143

Summary of Carrying Amounts and Estimated Fair Values of Long-Term Debt

The carrying amounts and the estimated fair values of long-term debt as of June 30, 2016 and December 31, 2015 are as follows (in thousands):

	June 30, 2016				December 31, 2015
	Carrying value		Estimated fair value		Carrying value		Estimated fair value
Term Loan Facility	$	569,320	$	573,900	$	567,673	$	570,051
Senior Secured Notes		620,204		645,312		618,616		633,594
Junior Lien Secured Notes		565,660		592,158		551,552		537,646
Senior Unsecured Notes		366,376		376,316		364,043		371,142

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Termination Benefits and Other Cost Reduction Actions (Tables)

6 Months Ended

Jun. 30, 2016

Restructuring And Related Activities [Abstract]

Summary of Company's Restructuring Costs

Expenses related to these actions that include real estate consolidations, elimination of redundant functions and employees, are summarized below (in thousands):

	For the Three Months Ended June 30,				For the Six Months Ended June 30,
	2016		2015		2016		2015
Employee severance and related costs	$	2,342	$	3,545	$	5,087	$	6,124
Facilities-related costs		3,846		155		5,231		331
Total	$	6,188	$	3,700	$	10,318	$	6,455

Summary of Company's Restructuring Reserve

The following table summarizes the Company’s restructuring reserve as of June 30, 2016 and December 31, 2015 (in thousands):

	Balance at							Balance at
	December31,							June 30,
	2015		Net Costs		Cash Payments			2016
Employee severance and related costs	$	4,245	$	5,087	$	(6,331	)	$	3,001
Facilities-related costs		3,942		5,231		(2,214	)		6,959
Total	$	8,187	$	10,318	$	(8,545	)	$	9,960

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Segment Information (Tables)

6 Months Ended

Jun. 30, 2016

Segment Reporting [Abstract]

Schedule of Selected Information for Each Reportable Segment

Selected information for each reportable segment is as follows (in thousands):

	For the Three Months Ended June 30,						For the Six Months Ended June 30,
	2016			2015			2016			2015
Net Revenues
Clinical	$	259,907		$	233,582		$	514,766		$	453,246
Commercial		305,908			259,462			596,834			494,008
Intersegment revenues		(4,793	)		(3,627	)		(9,282	)		(6,860	)
Consolidated net revenues	$	561,022		$	489,417		$	1,102,318		$	940,394
Adjusted Segment Operating Income (Loss)
Clinical	$	42,802		$	28,469		$	85,538		$	54,118
Commercial		54,028			42,898			102,948			74,777
Corporate and other		(13,661	)		(10,096	)		(25,985	)		(18,994	)
Reportable segments adjusted operating     income (loss)		83,169			61,271			162,501			109,901
Depreciation and amortization		(22,201	)		(23,908	)		(45,964	)		(48,911	)
Stock-based compensation		(1,560	)		(45	)		(2,977	)		(515	)
Other unallocated charges		(6,077	)		(7,686	)		(15,065	)		(13,285	)
Operating income (loss)		53,331			29,632			98,495			47,190
Interest income (expense), net		(54,413	)		(57,120	)		(110,266	)		(113,583	)
Gain on extinguishment of debt		—			—			221			—
Income (loss) before income tax     (provision) benefit and income     (loss) from equity investments	$	(1,082	)	$	(27,488	)	$	(11,550	)	$	(66,393	)

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Guarantor Financial Information (Tables)

6 Months Ended

Jun. 30, 2016

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Condensed Consolidating Balance Sheet Information

CONDENSED CONSOLIDATING BALANCE SHEET INFORMATION
At June 30, 2016
(in thousands, except share and per share amounts)
	inVentiv			Guarantor		Non-Guarantor
	Health, Inc.			Subsidiaries		Subsidiaries		Eliminations			Total
ASSETS
Current assets:
Cash and cash equivalents	$	74,624		$	—	$	114,186	$	(92,933	)	$	95,877
Restricted cash		946			—		844		—			1,790
Accounts receivable, net of allowances for    doubtful accounts		—			321,872		55,597		—			377,469
Unbilled services		—			206,879		37,192		—			244,071
Intercompany receivables		507,192			859,832		125,857		(1,492,881	)		—
Prepaid expenses and other current assets		5,557			13,642		24,080		—			43,279
Income tax receivable		26			—		1,385		—			1,411
Total current assets		588,345			1,402,225		359,141		(1,585,814	)		763,897
Property and equipment, net		19,354			99,675		19,316		—			138,345
Goodwill		—			855,317		42,124		—			897,441
Intangible assets, net		—			310,381		6,750		—			317,131
Non-current deferred tax assets		—			—		10,341		—			10,341
Other assets		20,365			4,046		15,484		—			39,895
Non-current intercompany receivables		442,077			27,167		—		(469,244	)		—
Investment in consolidated subsidiaries		726,602			111,817		—		(838,419	)		—
Total assets	$	1,796,743		$	2,810,628	$	453,156	$	(2,893,477	)	$	2,167,050
LIABILITIES AND STOCKHOLDER’S DEFICIT
Current liabilities:
Current portion of capital lease obligations and    other financing arrangements	$	457		$	24,174	$	87,145	$	(87,064	)	$	24,712
Accrued payroll, accounts payable and accrued    expenses		94,428			200,337		65,502		(5,870	)		354,397
Intercompany payables		929,017			544,148		19,715		(1,492,880	)		—
Income taxes payable		—			432		5,168		—			5,600
Deferred revenue and client advances		—			181,626		55,507		—			237,133
Total current liabilities		1,023,902			950,717		233,037		(1,585,814	)		621,842
Capital lease obligations, net of current portion		—			47,011		140		—			47,151
Long-term debt, net of current portion		1,551,286			570,275		—		—			2,121,561
Non-current income tax liability		—			4,806		2,764		—			7,570
Deferred tax liability		74			78,155		1,702		—			79,931
Other non-current liabilities		14,269			41,591		24,481		—			80,341
Non-current intercompany liabilities		—			442,071		27,173		(469,244	)		—
Total liabilities		2,589,531			2,134,626		289,297		(2,055,058	)		2,958,396
Total inVentiv Health, Inc. stockholder’s deficit		(792,788	)		676,002		162,417		(838,419	)		(792,788	)
Noncontrolling interest		—			—		1,442		—			1,442
Total stockholder’s deficit		(792,788	)		676,002		163,859		(838,419	)		(791,346	)
Total liabilities and stockholder’s deficit	$	1,796,743		$	2,810,628	$	453,156	$	(2,893,477	)	$	2,167,050

CONDENSED CONSOLIDATING BALANCE SHEET INFORMATION

At December 31, 2015

(in thousands, except share and per share amounts)

	inVentiv			Guarantor		Non-Guarantor
	Health, Inc.			Subsidiaries		Subsidiaries		Eliminations			Total
ASSETS
Current assets:
Cash and cash equivalents	$	55,226		$	—	$	148,970	$	(82,879	)	$	121,317
Restricted cash		226			—		1,381		—			1,607
Accounts receivable, net of allowances for    doubtful accounts		—			292,548		66,533		—			359,081
Unbilled services		—			174,070		33,395		—			207,465
Intercompany receivables		529,457			840,499		18,211		(1,388,167	)		—
Prepaid expenses and other current assets		8,839			11,401		22,690		—			42,930
Income tax receivable		104			—		1,076		(104	)		1,076
Total current assets		593,852			1,318,518		292,256		(1,471,150	)		733,476
Property and equipment, net		23,227			101,507		17,298		—			142,032
Goodwill		—			855,317		40,052		—			895,369
Intangible assets, net		—			328,239		6,407		—			334,646
Non-current deferred tax assets		—			—		10,032		—			10,032
Other assets		19,084			4,491		13,559		—			37,134
Non-current intercompany receivables		416,161			29,235		35,021		(480,417	)		—
Investment in consolidated subsidiaries		676,479			93,191		—		(769,670	)		—
Total assets	$	1,728,803		$	2,730,498	$	414,625	$	(2,721,237	)	$	2,152,689
LIABILITIES AND STOCKHOLDER’S DEFICIT
Current liabilities:
Current portion of capital lease obligations and    other financing arrangements	$	1,936		$	21,324	$	73,355	$	(73,282	)	$	23,333
Accrued payroll, accounts payable and accrued    expenses		71,953			200,063		71,307		(9,597	)		333,726
Intercompany payables		820,965			542,500		24,702		(1,388,167	)		—
Income taxes payable		—			165		5,423		(104	)		5,484
Deferred revenue and client advances		—			190,828		55,828		—			246,656
Total current liabilities		894,854			954,880		230,615		(1,471,150	)		609,199
Capital lease obligations, net of current portion		—			45,247		11		—			45,258
Long-term debt, net of current portion		1,533,197			568,688		—		—			2,101,885
Non-current income tax liability		—			4,806		1,136		—			5,942
Deferred tax liability		74			73,047		239		—			73,360
Other non-current liabilities		38,494			30,896		18,763		—			88,153
Non-current intercompany liabilities		34,920			416,260		29,237		(480,417	)		—
Total liabilities		2,501,539			2,093,824		280,001		(1,951,567	)		2,923,797
Total inVentiv Health, Inc. stockholder’s deficit		(772,736	)		636,674		132,996		(769,670	)		(772,736	)
Noncontrolling interest		—			—		1,628		—			1,628
Total stockholder’s deficit		(772,736	)		636,674		134,624		(769,670	)		(771,108	)
Total liabilities and stockholder’s deficit	$	1,728,803		$	2,730,498	$	414,625	$	(2,721,237	)	$	2,152,689

Consolidating Statement of Operations

CONSOLIDATING STATEMENT OF OPERATIONS
For the Three Months Ended June 30, 2016
(in thousands)
	inVentiv			Guarantor			Non-Guarantor
	Health, Inc.			Subsidiaries			Subsidiaries			Eliminations			Total
Net revenues	$	—		$	432,250		$	137,165		$	(8,393	)	$	561,022
Reimbursed out-of-pocket expenses		—			73,151			9,678			(5	)		82,824
Total revenues		—			505,401			146,843			(8,398	)		643,846
Operating expenses:
Cost of revenues		—			312,576			85,031			(7,872	)		389,735
Reimbursable out-of-pocket expenses		—			73,151			9,678			(5	)		82,824
Selling, general and administrative expenses		16,822			67,336			34,319			(521	)		117,956
Allocation of intercompany costs		(13,898	)		10,921			2,977			—			—
Total operating expenses		2,924			463,984			132,005			(8,398	)		590,515
Operating income (loss)		(2,924	)		41,417			14,838			—			53,331
Gain on extinguishment of debt		—			—			—			—			—
Interest income (expense), net		(42,394	)		(12,209	)		190			—			(54,413	)
Intercompany interest income (expense)		13,369			(13,103	)		(266	)		—			—
Income (loss) before income tax (provision)    benefit and income (loss) from equity    investments		(31,949	)		16,105			14,762			—			(1,082	)
Income tax (provision) benefit		—			(403	)		(2,902	)		—			(3,305	)
Income (loss) before income (loss) from equity    investments		(31,949	)		15,702			11,860			—			(4,387	)
Income (loss) from equity investments		27,475			9,554			—			(37,025	)		4
Net income (loss)		(4,474	)		25,256			11,860			(37,025	)		(4,383	)
Less: Net (income) loss attributable to the    noncontrolling interest		—			—			(91	)		—			(91	)
Net income (loss) attributable to    inVentiv Health, Inc.	$	(4,474	)	$	25,256		$	11,769		$	(37,025	)	$	(4,474	)

CONSOLIDATING STATEMENT OF OPERATIONS
For the Three Months Ended June 30, 2015
(in thousands)
	inVentiv			Guarantor			Non-Guarantor
	Health, Inc.			Subsidiaries			Subsidiaries			Eliminations			Total
Net revenues	$	—		$	382,908		$	112,927		$	(6,418	)	$	489,417
Reimbursed out-of-pocket expenses		—			68,450			14,689			(62	)		83,077
Total revenues		—			451,358			127,616			(6,480	)		572,494
Operating expenses:
Cost of revenues		—			255,110			77,005			(5,885	)		326,230
Reimbursable out-of-pocket expenses		—			68,450			14,689			(62	)		83,077
Selling, general and administrative expenses		20,491			80,661			32,936			(533	)		133,555
Allocation of intercompany costs		(9,899	)		7,935			1,964			—			—
Total operating expenses		10,592			412,156			126,594			(6,480	)		542,862
Operating income (loss)		(10,592	)		39,202			1,022			—			29,632
Interest income (expense), net		(45,006	)		(12,279	)		165			—			(57,120	)
Intercompany interest income (expense)		11,801			(11,554	)		(247	)		—			—
Income (loss) before income tax (provision)    benefit and income (loss) from equity    investments		(43,797	)		15,369			940			—			(27,488	)
Income tax (provision) benefit		—			(1,650	)		(1,088	)		—			(2,738	)
Income (loss) before income (loss) from equity    investments		(43,797	)		13,719			(148	)		—			(30,226	)
Income (loss) from equity investments		13,566			(976	)		—			(12,352	)		238
Net income (loss)		(30,231	)		12,743			(148	)		(12,352	)		(29,988	)
Less: Net (income) loss attributable to the    noncontrolling interest		—			—			(243	)		—			(243	)
Net income (loss) attributable to inVentiv    Health, Inc.	$	(30,231	)	$	12,743		$	(391	)	$	(12,352	)	$	(30,231	)

CONSOLIDATING STATEMENT OF OPERATIONS
For the Six Months Ended June 30, 2016
(in thousands)
	inVentiv			Guarantor			Non-Guarantor
	Health, Inc.			Subsidiaries			Subsidiaries			Eliminations			Total
Net revenues	$	—		$	851,586		$	267,098		$	(16,366	)	$	1,102,318
Reimbursed out-of-pocket expenses		—			156,969			16,892			(54	)		173,807
Total revenues		—			1,008,555			283,990			(16,420	)		1,276,125
Operating expenses:
Cost of revenues		—			612,968			164,329			(15,186	)		762,111
Reimbursable out-of-pocket expenses		—			156,969			16,892			(54	)		173,807
Selling, general and administrative expenses		37,951			138,705			66,236			(1,180	)		241,712
Allocation of intercompany costs		(27,797	)		21,836			5,961			—			—
Total operating expenses		10,154			930,478			253,418			(16,420	)		1,177,630
Operating income (loss)		(10,154	)		78,077			30,572			—			98,495
Gain on extinguishment of debt		221			—			—			—			221
Interest income (expense), net		(86,225	)		(24,486	)		445			—			(110,266	)
Intercompany interest income (expense)		26,344			(25,818	)		(526	)		—			—
Income (loss) before income tax (provision)    benefit and income (loss) from equity    investments		(69,814	)		27,773			30,491			—			(11,550	)
Income tax (provision) benefit		—			(5,548	)		(5,933	)		—			(11,481	)
Income (loss) before income (loss) from equity    investments		(69,814	)		22,225			24,558			—			(23,031	)
Income (loss) from equity investments		46,263			20,128			—			(66,382	)		9
Net income (loss)		(23,551	)		42,353			24,558			(66,382	)		(23,022	)
Less: Net (income) loss attributable to the    noncontrolling interest		—			—			(529	)		—			(529	)
Net income (loss) attributable to    inVentiv Health, Inc.	$	(23,551	)	$	42,353		$	24,029		$	(66,382	)	$	(23,551	)

CONSOLIDATING STATEMENT OF OPERATIONS
For the Six Months Ended June 30, 2015
(in thousands)
	inVentiv			Guarantor			Non-Guarantor
	Health, Inc.			Subsidiaries			Subsidiaries			Eliminations			Total
Net revenues	$	—		$	729,889		$	222,678		$	(12,173	)	$	940,394
Reimbursed out-of-pocket expenses		—			128,066			22,472			(138	)		150,400
Total revenues		—			857,955			245,150			(12,311	)		1,090,794
Operating expenses:
Cost of revenues		—			491,573			146,309			(11,147	)		626,735
Reimbursable out-of-pocket expenses		—			128,066			22,472			(138	)		150,400
Selling, general and administrative expenses		36,578			165,200			65,717			(1,026	)		266,469
Allocation of intercompany costs		(19,799	)		15,879			3,920			—			—
Total operating expenses		16,779			800,718			238,418			(12,311	)		1,043,604
Operating income (loss)		(16,779	)		57,237			6,732			—			47,190
Interest income (expense), net		(89,404	)		(24,448	)		269			—			(113,583	)
Intercompany interest income (expense)		22,923			(22,526	)		(397	)		—			—
Income (loss) before income tax (provision)    benefit and income (loss) from equity    investments		(83,260	)		10,263			6,604			—			(66,393	)
Income tax (provision) benefit		—			(4,625	)		(2,641	)		—			(7,266	)
Income (loss) before income (loss) from equity    investments		(83,260	)		5,638			3,963			—			(73,659	)
Income (loss) from equity investments		7,944			654			—			(9,889	)		(1,291	)
Net income (loss)		(75,316	)		6,292			3,963			(9,889	)		(74,950	)
Less: Net (income) loss attributable to the    noncontrolling interest		—			—			(366	)		—			(366	)
Net income (loss) attributable to inVentiv    Health, Inc.	$	(75,316	)	$	6,292		$	3,597		$	(9,889	)	$	(75,316	)

Consolidating Statement of Comprehensive Loss

CONSOLIDATING STATEMENT OF COMPREHENSIVE LOSS
For the Three Months Ended June 30, 2016
(in thousands)
	inVentiv			Guarantor			Non-Guarantor
	Health, Inc.			Subsidiaries			Subsidiaries			Eliminations			Total
Net income (loss)	$	(4,474	)	$	25,256		$	11,860		$	(37,025	)	$	(4,383	)
Other comprehensive income (loss):
Foreign currency translation adjustment		(1,560	)		(5,688	)		383			5,305			(1,560	)
Total other comprehensive income (loss)		(1,560	)		(5,688	)		383			5,305			(1,560	)
Total comprehensive income (loss)		(6,034	)		19,568			12,243			(31,720	)		(5,943	)
Less: Comprehensive (income) loss    attributable to the noncontrolling interest		—			—			(91	)		—			(91	)
Total comprehensive income (loss) attributable to    inVentiv Health, Inc.	$	(6,034	)	$	19,568		$	12,152		$	(31,720	)	$	(6,034	)

CONSOLIDATING STATEMENT OF COMPREHENSIVE LOSS
For the Three Months Ended June 30, 2015
(in thousands)
	inVentiv			Guarantor		Non-Guarantor
	Health, Inc.			Subsidiaries		Subsidiaries			Eliminations			Total
Net income (loss)	$	(30,231	)	$	12,743	$	(148	)	$	(12,352	)	$	(29,988	)
Other comprehensive income (loss):
Foreign currency translation adjustment		4,218			5,113		2,596			(7,709	)		4,218
Total other comprehensive income (loss)		4,218			5,113		2,596			(7,709	)		4,218
Total comprehensive income (loss)		(26,013	)		17,856		2,448			(20,061	)		(25,770	)
Less: Comprehensive (income) loss    attributable to the noncontrolling interest		—			—		(243	)		—			(243	)
Total comprehensive income (loss) attributable to    inVentiv Health, Inc.	$	(26,013	)	$	17,856	$	2,205		$	(20,061	)	$	(26,013	)

CONSOLIDATING STATEMENT OF COMPREHENSIVE LOSS
For the Six Months Ended June 30, 2016
(in thousands)
	inVentiv			Guarantor			Non-Guarantor
	Health, Inc.			Subsidiaries			Subsidiaries			Eliminations			Total
Net income (loss)	$	(23,551	)	$	42,353		$	24,558		$	(66,382	)	$	(23,022	)
Other comprehensive income (loss):
Foreign currency translation adjustment		3,859			(3,026	)		6,502			(3,476	)		3,859
Total other comprehensive income (loss)		3,859			(3,026	)		6,502			(3,476	)		3,859
Total comprehensive income (loss)		(19,692	)		39,327			31,060			(69,858	)		(19,163	)
Less: Comprehensive (income) loss    attributable to the noncontrolling interest		—			—			(529	)		—			(529	)
Total comprehensive income (loss) attributable to    inVentiv Health, Inc.	$	(19,692	)	$	39,327		$	30,531		$	(69,858	)	$	(19,692	)

CONSOLIDATING STATEMENT OF COMPREHENSIVE LOSS
For the Six Months Ended June 30, 2015
(in thousands)
	inVentiv			Guarantor			Non-Guarantor
	Health, Inc.			Subsidiaries			Subsidiaries			Eliminations			Total
Net income (loss)	$	(75,316	)	$	6,292		$	3,963		$	(9,889	)	$	(74,950	)
Other comprehensive income (loss):
Foreign currency translation adjustment		(1,227	)		(322	)		(1,415	)		1,737			(1,227	)
Total other comprehensive income (loss)		(1,227	)		(322	)		(1,415	)		1,737			(1,227	)
Total comprehensive income (loss)		(76,543	)		5,970			2,548			(8,152	)		(76,177	)
Less: Comprehensive (income) loss    attributable to the noncontrolling interest		—			—			(366	)		—			(366	)
Total comprehensive income (loss) attributable to    inVentiv Health, Inc.	$	(76,543	)	$	5,970		$	2,182		$	(8,152	)	$	(76,543	)

Condensed Consolidating Statement of Cash Flows

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
For the Six Months Ended June 30, 2016
(in thousands)
	inVentiv			Guarantor			Non-Guarantor
	Health, Inc.			Subsidiaries			Subsidiaries			Eliminations			Total
Cash flows from operating activities:
Net cash provided by (used in) operating    activities	$	(67,876	)	$	61,218		$	37,813		$	(5,873	)	$	25,282
Cash flows from investing activities:
Purchases of property and equipment		(2,464	)		(4,648	)		(5,505	)		—			(12,617	)
Proceeds from vehicle sales and rebates on    vehicle leases		—			8,320			—			—			8,320
Intercompany transfers		117,196			20,386			—			(137,582	)		—
Other, net		(720	)		—			472			—			(248	)
Net cash provided by (used in) investing activities		114,012			24,058			(5,033	)		(137,582	)		(4,545	)
Cash flows from financing activities:
Repayments on capital leases and other    financing arrangements		(1,942	)		(18,495	)		125			—			(20,312	)
Repurchase of Notes		(22,790	)		—			—			—			(22,790	)
Payment on installment note and contingent    consideration related to acquisition		(2,322	)		—			—			—			(2,322	)
Intercompany transfers		—			(66,781	)		(66,620	)		133,401			—
Payments to parent		(173	)		—			—			—			(173	)
Other, net		489			—			(715	)		—			(226	)
Net cash provided by (used in) financing activities		(26,738	)		(85,276	)		(67,210	)		133,401			(45,823	)
Effects of foreign currency exchange rate changes    on cash		—			—			(354	)		—			(354	)
Net increase (decrease) in cash and cash    equivalents		19,398			—			(34,784	)		(10,054	)		(25,440	)
Cash and cash equivalents, beginning of period		55,226			—			148,970			(82,879	)		121,317
Cash and cash equivalents, end of period	$	74,624		$	—		$	114,186		$	(92,933	)	$	95,877

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
For the Six Months Ended June 30, 2015
(in thousands)
	inVentiv			Guarantor			Non-Guarantor
	Health, Inc.			Subsidiaries			Subsidiaries			Eliminations			Total
Cash flows from operating activities:
Net cash provided by (used in) operating    activities	$	(81,925	)	$	99,468		$	12,189		$	(4,925	)	$	24,807
Cash flows from investing activities:
Purchases of property and equipment		(6,599	)		(10,285	)		(2,924	)		—			(19,808	)
Proceeds from vehicle sales and rebates on    vehicle leases		—			6,826			—			—			6,826
Intercompany transfers		107,905			27,120			—			(135,025	)		—
Other, net		(32	)		—			—			—			(32	)
Net cash provided by (used in) investing activities		101,274			23,661			(2,924	)		(135,025	)		(13,014	)
Cash flows from financing activities:
Repayments on capital leases and other    financing arrangements		(1,965	)		(12,726	)		(252	)		—			(14,943	)
Borrowings under line of credit		153,000			—			—						153,000
Repayments on line of credit		(153,000	)		—			—			—			(153,000	)
Payment on installment note and contingent    consideration related to acquisition		(2,082	)		—			—			—			(2,082	)
Intercompany transfers		—			(113,842	)		14,263			99,579			—
Other, net		38			—			(508	)		—			(470	)
Net cash provided by (used in) financing activities		(4,009	)		(126,568	)		13,503			99,579			(17,495	)
Effects of foreign currency exchange rate changes    on cash		—			—			238			—			238
Net increase (decrease) in cash and cash    equivalents		15,340			(3,439	)		23,006			(40,371	)		(5,464	)
Cash and cash equivalents, beginning of period		19,643			3,439			86,014			(52,037	)		57,059
Cash and cash equivalents, end of period	$	34,983		$	—		$	109,020		$	(92,408	)	$	51,595

XML

Organization and Business - Additional Information (Detail)	6 Months Ended
	Jun. 30, 2016 Segment
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Number of reportable segments	2

XML

Basis of Presentation - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2015	Jun. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Line items]
Recognized loss on dissolution of a joint venture		$ (1.3)
SG&A Expenses [Member]
Organization, Consolidation and Presentation of Financial Statements [Line items]
Prior period reclassification adjustment	$ (7.9)	(17.2)
Cost of Revenues [Member]
Organization, Consolidation and Presentation of Financial Statements [Line items]
Prior period reclassification adjustment	$ 7.9	$ 17.2
InVentiv Health, Inc. [Member]
Organization, Consolidation and Presentation of Financial Statements [Line items]
Minority interest owned percentage			60.00%

XML

Goodwill - Schedule of Carrying Amount of Goodwill (Detail) $ in Thousands	6 Months Ended
	Jun. 30, 2016 USD ($)
Goodwill [Line Items]
Net goodwill, Beginning balance	$ 895,369
Foreign currency translation	2,072
Net goodwill, Ending balance	897,441
Clinical [Member]
Goodwill [Line Items]
Net goodwill, Beginning balance	382,215
Foreign currency translation	(40)
Net goodwill, Ending balance	382,175
Commercial [Member]
Goodwill [Line Items]
Net goodwill, Beginning balance	513,154
Foreign currency translation	2,112
Net goodwill, Ending balance	$ 515,266

XML

Goodwill - Additional Information (Detail) - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Goodwill And Intangible Assets Disclosure [Abstract]
Accumulated goodwill impairment losses	$ 478.3	$ 478.3

XML

Intangible Assets - Schedule of Carrying Amount of Intangible Assets (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Finite And Indefinite Lived Intangible Assets [Line Items]
Finite-lived intangible assets, Gross	$ 507,862	$ 507,107
Finite-lived intangible assets, Accumulated Amortization	(300,335)	(281,554)
Finite-lived intangible assets, Net	207,527	225,553
Intangible assets, Gross	617,466	616,200
Intangible assets, net	317,131	334,646
Customer Relationships [Member]
Finite And Indefinite Lived Intangible Assets [Line Items]
Finite-lived intangible assets, Gross	366,268	365,777
Finite-lived intangible assets, Accumulated Amortization	(164,093)	(148,679)
Finite-lived intangible assets, Net	202,175	217,098
Technology [Member]
Finite And Indefinite Lived Intangible Assets [Line Items]
Finite-lived intangible assets, Gross	27,214	27,003
Finite-lived intangible assets, Accumulated Amortization	(26,559)	(26,206)
Finite-lived intangible assets, Net	655	797
Tradenames [Member]
Finite And Indefinite Lived Intangible Assets [Line Items]
Finite-lived intangible assets, Gross	18,310	18,293
Finite-lived intangible assets, Accumulated Amortization	(16,894)	(16,657)
Finite-lived intangible assets, Net	1,416	1,636
Indefinite-lived intangible assets	109,604	109,093
Backlog [Member]
Finite And Indefinite Lived Intangible Assets [Line Items]
Finite-lived intangible assets, Gross	95,050	95,014
Finite-lived intangible assets, Accumulated Amortization	(92,144)	(89,427)
Finite-lived intangible assets, Net	2,906	5,587
Other [Member]
Finite And Indefinite Lived Intangible Assets [Line Items]
Finite-lived intangible assets, Gross	1,020	1,020
Finite-lived intangible assets, Accumulated Amortization	(645)	(585)
Finite-lived intangible assets, Net	$ 375	$ 435

XML

Debt - Summary of Debt (Detail) - USD ($)	Jun. 30, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Total borrowings	$ 2,228,355,000	$ 2,214,937,000
Less: unamortized premium (discount)	(7,174,000)	(9,030,000)
Less: unamortized deferred financing costs	(27,757,000)	(35,431,000)
Less: current portion of capital leases and other financing arrangements	(24,712,000)	(23,333,000)
Total long-term borrowings, net of current portion	2,168,712,000	2,147,143,000
Senior Secured Credit Facilities [Member]
Debt Instrument [Line Items]
Total borrowings	575,300,000
Senior Secured Credit Facilities [Member] | Term Loan Facility B3 Loans, Due 2018 [Member]
Debt Instrument [Line Items]
Total borrowings	129,645,000	129,645,000
Senior Secured Credit Facilities [Member] | Term Loan Facility B4 Loans, Due 2018 [Member]
Debt Instrument [Line Items]
Total borrowings	445,694,000	445,694,000
Senior Secured Notes, Due 2018 [Member]
Debt Instrument [Line Items]
Total borrowings	625,000,000	625,000,000
ABL Facility [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Total borrowings	0
Junior Lien Secured Notes, Due 2018 [Member]
Debt Instrument [Line Items]
Total borrowings	579,837,000	569,691,000
Senior Unsecured Notes, Due 2018 [Member]
Debt Instrument [Line Items]
Total borrowings	376,316,000	376,316,000
Capital Leases and Other Financing Arrangements [Member]
Debt Instrument [Line Items]
Total borrowings	$ 71,863,000	$ 68,591,000

XML

Debt - Summary of Debt (Parenthetical) (Detail)	6 Months Ended	12 Months Ended
	Jun. 30, 2016	Dec. 31, 2015
Senior Secured Credit Facilities [Member] | Term Loan Facility B3 Loans, Due 2018 [Member]
Debt Instrument [Line Items]
Maturity year	2018	2018
Senior Secured Credit Facilities [Member] | Term Loan Facility B4 Loans, Due 2018 [Member]
Debt Instrument [Line Items]
Maturity year	2018	2018
Senior Secured Notes, Due 2018 [Member]
Debt Instrument [Line Items]
Maturity year	2018	2018
Junior Lien Secured Notes, Due 2018 [Member]
Debt Instrument [Line Items]
Maturity year	2018	2018
Senior Unsecured Notes, Due 2018 [Member]
Debt Instrument [Line Items]
Maturity year	2018	2018

XML

Debt - Additional Information (Detail) - USD ($)			3 Months Ended	6 Months Ended	12 Months Ended
	Aug. 15, 2014	Aug. 12, 2014	Mar. 31, 2016	Jun. 30, 2016	Dec. 31, 2015	Jul. 01, 2015	Aug. 16, 2013
Debt Instrument [Line Items]
Total borrowings				$ 2,228,355,000	$ 2,214,937,000
Repurchased and cancelled aggregate principal amount			$ 23,700,000
Cash paid for repurchase of debt				22,790,000
Gain on extinguishment of debt			200,000	221,000
Net cash position in cash pool				11,100,000
Gross cash position in cash pool				98,200,000
Cash pool borrowings				$ 87,100,000
Open Market Purchases [Member]
Debt Instrument [Line Items]
Cash paid for repurchase of debt			$ 23,100,000
Junior Lien Notes Exchange Offer [Member]
Debt Instrument [Line Items]
Debt instrument, total consideration		$ 50,000,000
Debt instrument, discount percentage		5.00%
Increase in margin of the term loan				0.25%
Senior Secured Credit Facilities [Member]
Debt Instrument [Line Items]
Total borrowings				$ 575,300,000
Senior Secured Credit Facilities [Member] | Term Loan Facility B3 Loans, Due 2018 [Member]
Debt Instrument [Line Items]
Total borrowings				$ 129,645,000	$ 129,645,000
Maturity year				2018	2018
Senior Secured Credit Facilities [Member] | Term Loan Facility B4 Loans, Due 2018 [Member]
Debt Instrument [Line Items]
Total borrowings				$ 445,694,000	$ 445,694,000
Maturity year				2018	2018
Senior Secured Notes, Due 2018 [Member]
Debt Instrument [Line Items]
Total borrowings				$ 625,000,000	$ 625,000,000
Maturity year				2018	2018
ABL Facility [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Total borrowings				$ 0
Line of Credit Facility, Maximum Borrowing Capacity							$ 150,000,000
Line of Credit Facility, additional Borrowing Capacity				$ 129,300,000
Debt Instrument, maturity date				Aug. 16, 2018
ABL Facility [Member] | Letter of Credit [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity				$ 35,000,000
Amount outstanding				20,700,000
Junior Lien Secured Notes, Due 2018 [Member]
Debt Instrument [Line Items]
Total borrowings				$ 579,837,000	$ 569,691,000
Maturity year				2018	2018
Junior Lien Secured Notes, Due 2018 [Member] | Junior Lien Notes Exchange Offer [Member]
Debt Instrument [Line Items]
Description of interest payment				six semi-annual interest payments
Debt instrument, cash interest rate	10.00%
Debt instrument, PIK interest rate	12.00%
Junior lien secured notes issued		$ 25,000,000
Issuance of Junior Lien Secured Notes for backstop fees	$ 7,000,000
Senior Unsecured Notes, Due 2018 [Member]
Debt Instrument [Line Items]
Total borrowings				$ 376,316,000	$ 376,316,000
Maturity year				2018	2018
Senior Unsecured Notes, Due 2018 [Member] | Junior Lien Notes Exchange Offer [Member]
Debt Instrument [Line Items]
Exchange Offer Amount	$ 475,000,000
Debt instrument, interest rate of Junior Lien Secured Notes				10%/12%
Debt instrument, interest rate		10.00%
Maturity year	2018	2018
Debt instrument, total consideration		$ 26,300,000
Unamortized discount		$ 1,300,000
Capital Leases and Other Financing Arrangements [Member]
Debt Instrument [Line Items]
Total borrowings				$ 71,863,000	$ 68,591,000
International ABL Facility [Member]
Debt Instrument [Line Items]
Total borrowings				0
Line of Credit Facility, Maximum Borrowing Capacity						$ 20,000,000
Line of Credit Facility, additional Borrowing Capacity				18,300,000
International ABL Facility [Member] | Letter of Credit [Member]
Debt Instrument [Line Items]
Amount outstanding				$ 100,000

XML

Debt - Summary of Carrying Amounts and Estimated Fair Values of Long-Term Debt (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Senior Secured Credit Facilities [Member]
Debt Instrument [Line Items]
Carrying value	$ 569,320	$ 567,673
Estimated fair value	573,900	570,051
Senior Secured Notes, Due 2018 [Member]
Debt Instrument [Line Items]
Carrying value	620,204	618,616
Estimated fair value	645,312	633,594
Junior Lien Secured Notes, Due 2018 [Member]
Debt Instrument [Line Items]
Carrying value	565,660	551,552
Estimated fair value	592,158	537,646
Senior Unsecured Notes, Due 2018 [Member]
Debt Instrument [Line Items]
Carrying value	366,376	364,043
Estimated fair value	$ 376,316	$ 371,142

XML

Contingencies - Additional Information (Detail) - Master Services Agreement (MSA) [Member] - Pending Litigation [Member] - USD ($)	1 Months Ended		6 Months Ended
	Jan. 31, 2015	Dec. 31, 2013	Jun. 30, 2016
Cel-Sci Corporation Against PharmaNet [Member]
Loss Contingencies [Line Items]
Damages claim on arbitration description			October 31, 2013
inVentiv Health Clinical, LLC Against Cel-Sci Corporation [Member]
Loss Contingencies [Line Items]
Counterclaim on other equitable remedies	$ 20,000,000
Minimum [Member] | Cel-Sci Corporation Against PharmaNet [Member]
Loss Contingencies [Line Items]
Damages claim on arbitration			$ 50,000,000
Minimum [Member] | inVentiv Health Clinical, LLC Against Cel-Sci Corporation [Member]
Loss Contingencies [Line Items]
Damages claim on arbitration	$ 2,000,000	$ 2,000,000

XML

Concentration of Credit Risk - Additional Information (Detail) - Customer Concentration Risk [Member]	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016 Client	Jun. 30, 2015 Customer
Sales Revenue, Net [Member]
Concentration Risk [Line Items]
Number of customers accounted | Customer				0
Sales Revenue, Net [Member] | Pfizer Inc [Member]
Concentration Risk [Line Items]
Percentage of credit risk	12.00%	10.00%	12.00%
Sales Revenue, Net [Member] | Maximum [Member]
Concentration Risk [Line Items]
Percentage of credit risk				10.00%
Accounts Receivable [Member]
Concentration Risk [Line Items]
Percentage of credit risk			10.00%
Number of clients accounted | Client			1

XML

Common Stock and Stock Incentive Plans - Additional Information (Detail) - 2010 Equity Incentive Plan [Member] - USD ($)	Mar. 25, 2016	Jul. 02, 2015
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares approved for granted	1,147,154
2015 Exchange Program [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
New option award terms		one-for-one
Number of shares exchanged from RSU awards to Option awards		1,606,478
Incremental stock compensation cost for awards		$ 0
Option Awards [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares approved for granted	1,106,956
Mom RSU and Time Based Options [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares approved for granted	40,198
Time Based Options [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage of vesting under the plan		35.00%
Time Based Options [Member] | Option Awards [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage of vesting under the plan	35.00%
Performance Based Options [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage of vesting under the plan		65.00%
Performance Based Options [Member] | Option Awards [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage of vesting under the plan	65.00%

XML

Termination Benefits and Other Cost Reduction Actions - Summary of Real Estate Consolidations, Elimination of Redundant Functions and Employees Expenses (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Restructuring And Related Activities [Abstract]
Employee severance and related costs	$ 2,342	$ 3,545	$ 5,087	$ 6,124
Facilities-related costs	3,846	155	5,231	331
Total	$ 6,188	$ 3,700	$ 10,318	$ 6,455

XML

Termination Benefits and Other Cost Reduction Actions - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Restructuring Cost And Reserve [Line Items]
Restructuring costs	$ 6,188	$ 3,700	$ 10,318	$ 6,455
Non cash portion of net costs related to abandoned assets			500
Clinical [Member]
Restructuring Cost And Reserve [Line Items]
Restructuring costs	1,500	600	2,700	1,600
Commercial [Member]
Restructuring Cost And Reserve [Line Items]
Restructuring costs	4,400	3,100	7,300	4,800
Corporate Non Segment [Member]
Restructuring Cost And Reserve [Line Items]
Restructuring costs	300		300	100
Cost of Revenues [Member]
Restructuring Cost And Reserve [Line Items]
Restructuring costs	1,100	1,600	2,600	2,900
SG&A Expenses [Member]
Restructuring Cost And Reserve [Line Items]
Restructuring costs	$ 5,100	$ 2,100	$ 7,700	$ 3,600

XML

Termination Benefits and Other Cost Reduction Actions - Summary of Company's Restructuring Reserve (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Restructuring Cost And Reserve [Line Items]
Restructuring Reserve, Beginning Balance			$ 8,187
Net Costs	$ 6,188	$ 3,700	10,318	$ 6,455
Cash Payments			(8,545)
Restructuring Reserve, Ending Balance	9,960		9,960
Employee Severance and Related Costs [Member]
Restructuring Cost And Reserve [Line Items]
Restructuring Reserve, Beginning Balance			4,245
Net Costs			5,087
Cash Payments			(6,331)
Restructuring Reserve, Ending Balance	3,001		3,001
Facilities-Related Charges [Member]
Restructuring Cost And Reserve [Line Items]
Restructuring Reserve, Beginning Balance			3,942
Net Costs			5,231
Cash Payments			(2,214)
Restructuring Reserve, Ending Balance	$ 6,959		$ 6,959

XML

Income Taxes - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2016
Income Taxes [Line Items]
Consolidated effective tax rate	(305.50%)	(10.00%)	(99.40%)	(10.90%)
Scenario, Forecast [Member]
Income Taxes [Line Items]
Income tax expense related to amortization					$ 8.5
Estimated unamortized balance of tax deductible goodwill and indefinite-lived intangible assets					$ 111.4

XML

Related Parties - Additional Information (Detail)			1 Months Ended	3 Months Ended		6 Months Ended		12 Months Ended
	Dec. 05, 2012 USD ($)	Nov. 12, 2012	Aug. 31, 2010 USD ($)	Jun. 30, 2016 USD ($) Entity	Jun. 30, 2015 USD ($) Entity	Jun. 30, 2016 USD ($) Entity	Jun. 30, 2015 USD ($) Entity	Dec. 31, 2015 shares	Aug. 12, 2014 USD ($)
Junior Lien Notes Exchange Offer [Member]
Related Party Transaction [Line Items]
Debt instrument, total consideration									$ 50,000,000
Junior Lien Secured Notes, Due 2018 [Member] | Junior Lien Notes Exchange Offer [Member]
Related Party Transaction [Line Items]
Junior lien secured notes issued									25,000,000
Senior Unsecured Notes, Due 2018 [Member] | Junior Lien Notes Exchange Offer [Member]
Related Party Transaction [Line Items]
Debt instrument, total consideration									$ 26,300,000
Senior unsecured notes interest percentage									10.00%
Group Holdings [Member]
Related Party Transaction [Line Items]
Outstanding receivables from parent				$ 3,362,000		$ 3,362,000
Mr. Meister [Member] | Multiple of Money ("MOM") Options [Member]
Related Party Transaction [Line Items]
Number of common stock shares issued for stock options and other stock awards | shares								38,054
Blane Walter [Member]
Related Party Transaction [Line Items]
Related party transaction service amount threshold						120,000
Services fees				$ 0		$ 0	$ 1,800,000
Blane Walter [Member] | Maximum [Member]
Related Party Transaction [Line Items]
Services fees					$ 100,000
Blane Walter [Member] | InVentiv Health, Inc. [Member] | Minimum [Member]
Related Party Transaction [Line Items]
Percentage of interest hold				10.00%		10.00%
THL [Member]
Related Party Transaction [Line Items]
Management fee description						THL Management Agreement, THL Managers will receive an aggregate annual management fee in an amount per year equal to the greater of (a) $2.5 million or (b) 1.5% of EBITDA
Percentage of management fee in EBITDA			1.50%
Annual management fee			$ 2,500,000	$ 1,000,000	$ 700,000	$ 1,900,000	$ 1,400,000
Number of entities | Entity				3	4	3	4
Related parties, description of transaction						THL or its affiliates held a 10% or greater interest that provided services exceeding $120,000 in value to the Company
Related party transaction service amount threshold						$ 120,000
Services fees				$ 200,000	$ 1,100,000	$ 600,000	$ 2,700,000
THL [Member] | InVentiv Health, Inc. [Member] | Minimum [Member]
Related Party Transaction [Line Items]
Percentage of interest hold				10.00%		10.00%
Liberty Lane [Member]
Related Party Transaction [Line Items]
Annual management fee	$ 800,000		$ 1,000,000		$ 200,000		$ 0
Percentage of common stock options granted as compensation		1.40%
Affiliates of Thomas H. Lee Partners L.P., Liberty Lane and Blane Walter [Member] | Junior Lien Notes Exchange Offer [Member]
Related Party Transaction [Line Items]
Debt instrument, total consideration									$ 50,000,000
Affiliates of Thomas H. Lee Partners L.P., Liberty Lane and Blane Walter [Member] | Junior Lien Secured Notes, Due 2018 [Member] | Junior Lien Notes Exchange Offer [Member]
Related Party Transaction [Line Items]
Junior lien secured notes issued									25,000,000
Affiliates of Thomas H. Lee Partners L.P., Liberty Lane and Blane Walter [Member] | Senior Unsecured Notes, Due 2018 [Member] | Junior Lien Notes Exchange Offer [Member]
Related Party Transaction [Line Items]
Debt instrument, total consideration									$ 26,300,000
Senior unsecured notes interest percentage									10.00%

XML

Fair Value Measurements - Additional Information (Detail) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Fair Value, Inputs, Level 3 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Amount of contingent consideration obligation	$ 0.2
Fair Value, Inputs, Level 1 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Trading securities at fair value	$ 12.2	$ 10.8

XML

Segment Information - Additional Information (Detail) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016 USD ($)	Jun. 30, 2015 USD ($)	Jun. 30, 2016 USD ($) Segment	Jun. 30, 2015 USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments | Segment			2
Consolidated net revenues	$ 561,022	$ 489,417	$ 1,102,318	$ 940,394
Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Consolidated net revenues	(4,793)	(3,627)	(9,282)	(6,860)
Intersegment Eliminations [Member] | Clinical [Member]
Segment Reporting Information [Line Items]
Consolidated net revenues	(100)	(700)	(200)	(1,300)
Intersegment Eliminations [Member] | Commercial [Member]
Segment Reporting Information [Line Items]
Consolidated net revenues	(4,700)	(3,000)	(9,100)	(5,600)
Operating Segments [Member] | Clinical [Member]
Segment Reporting Information [Line Items]
Consolidated net revenues	259,907	233,582	514,766	453,246
Operating Segments [Member] | Commercial [Member]
Segment Reporting Information [Line Items]
Consolidated net revenues	305,908	259,462	596,834	494,008
Operating Segments [Member] | Corporate and Other [Member]
Segment Reporting Information [Line Items]
Cost of revenue	$ 5,700	$ 800	$ 10,100	$ 1,300

XML

Segment Information - Schedule of Selected Information for Each Reportable Segment (Detail) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended
	Jun. 30, 2016	Mar. 31, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Segment Reporting Information [Line Items]
Consolidated net revenues	$ 561,022		$ 489,417	$ 1,102,318	$ 940,394
Operating income (loss)	53,331		29,632	98,495	47,190
Depreciation and amortization	(22,201)		(23,908)	(45,964)	(48,911)
Stock-based compensation	(1,560)		(45)	(2,977)	(515)
Operating expenses	(590,515)		(542,862)	(1,177,630)	(1,043,604)
Interest income (expense), net	(54,413)		(57,120)	(110,266)	(113,583)
Gain on extinguishment of debt		$ 200		221
Income (loss) before income tax (provision) benefit and income (loss) from equity investments	(1,082)		(27,488)	(11,550)	(66,393)
Operating Segments [Member]
Segment Reporting Information [Line Items]
Operating income (loss)	83,169		61,271	162,501	109,901
Operating Segments [Member] | Clinical [Member]
Segment Reporting Information [Line Items]
Consolidated net revenues	259,907		233,582	514,766	453,246
Operating income (loss)	42,802		28,469	85,538	54,118
Operating Segments [Member] | Commercial [Member]
Segment Reporting Information [Line Items]
Consolidated net revenues	305,908		259,462	596,834	494,008
Operating income (loss)	54,028		42,898	102,948	74,777
Operating Segments [Member] | Corporate and Other [Member]
Segment Reporting Information [Line Items]
Operating income (loss)	(13,661)		(10,096)	(25,985)	(18,994)
Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Consolidated net revenues	(4,793)		(3,627)	(9,282)	(6,860)
Intersegment Eliminations [Member] | Clinical [Member]
Segment Reporting Information [Line Items]
Consolidated net revenues	(100)		(700)	(200)	(1,300)
Intersegment Eliminations [Member] | Commercial [Member]
Segment Reporting Information [Line Items]
Consolidated net revenues	(4,700)		(3,000)	(9,100)	(5,600)
Other Unallocated Charges [Member]
Segment Reporting Information [Line Items]
Operating expenses	$ (6,077)		$ (7,686)	$ (15,065)	$ (13,285)

XML

Guarantor Financial Information - Condensed Consolidating Balance Sheet Information (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015	Jun. 30, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	$ 95,877	$ 121,317	$ 51,595	$ 57,059
Restricted cash	1,790	1,607
Accounts receivable, net of allowances for doubtful accounts	377,469	359,081
Unbilled services	244,071	207,465
Prepaid expenses and other current assets	43,279	42,930
Income tax receivable	1,411	1,076
Total current assets	763,897	733,476
Property and equipment, net	138,345	142,032
Goodwill	897,441	895,369
Intangible assets, net	317,131	334,646
Non-current deferred tax assets	10,341	10,032
Other assets	39,895	37,134
Total assets	2,167,050	2,152,689
Current liabilities:
Current portion of capital lease obligations and other financing arrangements	24,712	23,333
Accrued payroll, accounts payable and accrued expenses	354,397	333,726
Income taxes payable	5,600	5,484
Deferred revenue and client advances	237,133	246,656
Total current liabilities	621,842	609,199
Capital lease obligations, net of current portion	47,151	45,258
Long-term debt, net of current portion	2,121,561	2,101,885
Non-current income tax liability	7,570	5,942
Deferred tax liability	79,931	73,360
Other non-current liabilities	80,341	88,153
Total liabilities	2,958,396	2,923,797
Total inVentiv Health, Inc. stockholder’s deficit	(792,788)	(772,736)
Noncontrolling interest	1,442	1,628
Total stockholder’s deficit	(791,346)	(771,108)
Total liabilities and stockholder’s deficit	2,167,050	2,152,689
Reportable Legal Entities [Member] | Inventiv Health Inc [Member]
Current assets:
Cash and cash equivalents	74,624	55,226	34,983	19,643
Restricted cash	946	226
Intercompany receivables	507,192	529,457
Prepaid expenses and other current assets	5,557	8,839
Income tax receivable	26	104
Total current assets	588,345	593,852
Property and equipment, net	19,354	23,227
Other assets	20,365	19,084
Non-current intercompany receivables	442,077	416,161
Investment in consolidated subsidiaries	726,602	676,479
Total assets	1,796,743	1,728,803
Current liabilities:
Current portion of capital lease obligations and other financing arrangements	457	1,936
Accrued payroll, accounts payable and accrued expenses	94,428	71,953
Intercompany payables	929,017	820,965
Total current liabilities	1,023,902	894,854
Long-term debt, net of current portion	1,551,286	1,533,197
Deferred tax liability	74	74
Other non-current liabilities	14,269	38,494
Non-current intercompany liabilities		34,920
Total liabilities	2,589,531	2,501,539
Total inVentiv Health, Inc. stockholder’s deficit	(792,788)	(772,736)
Total stockholder’s deficit	(792,788)	(772,736)
Total liabilities and stockholder’s deficit	1,796,743	1,728,803
Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member]
Current assets:
Cash and cash equivalents				3,439
Accounts receivable, net of allowances for doubtful accounts	321,872	292,548
Unbilled services	206,879	174,070
Intercompany receivables	859,832	840,499
Prepaid expenses and other current assets	13,642	11,401
Total current assets	1,402,225	1,318,518
Property and equipment, net	99,675	101,507
Goodwill	855,317	855,317
Intangible assets, net	310,381	328,239
Other assets	4,046	4,491
Non-current intercompany receivables	27,167	29,235
Investment in consolidated subsidiaries	111,817	93,191
Total assets	2,810,628	2,730,498
Current liabilities:
Current portion of capital lease obligations and other financing arrangements	24,174	21,324
Accrued payroll, accounts payable and accrued expenses	200,337	200,063
Intercompany payables	544,148	542,500
Income taxes payable	432	165
Deferred revenue and client advances	181,626	190,828
Total current liabilities	950,717	954,880
Capital lease obligations, net of current portion	47,011	45,247
Long-term debt, net of current portion	570,275	568,688
Non-current income tax liability	4,806	4,806
Deferred tax liability	78,155	73,047
Other non-current liabilities	41,591	30,896
Non-current intercompany liabilities	442,071	416,260
Total liabilities	2,134,626	2,093,824
Total inVentiv Health, Inc. stockholder’s deficit	676,002	636,674
Total stockholder’s deficit	676,002	636,674
Total liabilities and stockholder’s deficit	2,810,628	2,730,498
Reportable Legal Entities [Member] | Non-Guarantor Subsidiaries [Member]
Current assets:
Cash and cash equivalents	114,186	148,970	109,020	86,014
Restricted cash	844	1,381
Accounts receivable, net of allowances for doubtful accounts	55,597	66,533
Unbilled services	37,192	33,395
Intercompany receivables	125,857	18,211
Prepaid expenses and other current assets	24,080	22,690
Income tax receivable	1,385	1,076
Total current assets	359,141	292,256
Property and equipment, net	19,316	17,298
Goodwill	42,124	40,052
Intangible assets, net	6,750	6,407
Non-current deferred tax assets	10,341	10,032
Other assets	15,484	13,559
Non-current intercompany receivables		35,021
Total assets	453,156	414,625
Current liabilities:
Current portion of capital lease obligations and other financing arrangements	87,145	73,355
Accrued payroll, accounts payable and accrued expenses	65,502	71,307
Intercompany payables	19,715	24,702
Income taxes payable	5,168	5,423
Deferred revenue and client advances	55,507	55,828
Total current liabilities	233,037	230,615
Capital lease obligations, net of current portion	140	11
Non-current income tax liability	2,764	1,136
Deferred tax liability	1,702	239
Other non-current liabilities	24,481	18,763
Non-current intercompany liabilities	27,173	29,237
Total liabilities	289,297	280,001
Total inVentiv Health, Inc. stockholder’s deficit	162,417	132,996
Noncontrolling interest	1,442	1,628
Total stockholder’s deficit	163,859	134,624
Total liabilities and stockholder’s deficit	453,156	414,625
Eliminations [Member]
Current assets:
Cash and cash equivalents	(92,933)	(82,879)	$ (92,408)	$ (52,037)
Intercompany receivables	(1,492,881)	(1,388,167)
Income tax receivable		(104)
Total current assets	(1,585,814)	(1,471,150)
Non-current intercompany receivables	(469,244)	(480,417)
Investment in consolidated subsidiaries	(838,419)	(769,670)
Total assets	(2,893,477)	(2,721,237)
Current liabilities:
Current portion of capital lease obligations and other financing arrangements	(87,064)	(73,282)
Accrued payroll, accounts payable and accrued expenses	(5,870)	(9,597)
Intercompany payables	(1,492,880)	(1,388,167)
Income taxes payable		(104)
Total current liabilities	(1,585,814)	(1,471,150)
Non-current intercompany liabilities	(469,244)	(480,417)
Total liabilities	(2,055,058)	(1,951,567)
Total inVentiv Health, Inc. stockholder’s deficit	(838,419)	(769,670)
Total stockholder’s deficit	(838,419)	(769,670)
Total liabilities and stockholder’s deficit	$ (2,893,477)	$ (2,721,237)

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Guarantor Financial Information - Consolidating Statement of Operations (Detail) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended
	Jun. 30, 2016	Mar. 31, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Condensed Income Statements Captions [Line Items]
Net revenues	$ 561,022		$ 489,417	$ 1,102,318	$ 940,394
Reimbursed out-of-pocket expenses	82,824		83,077	173,807	150,400
Total revenues	643,846		572,494	1,276,125	1,090,794
Operating expenses:
Cost of revenues	389,735		326,230	762,111	626,735
Reimbursable out-of-pocket expenses	82,824		83,077	173,807	150,400
Selling, general and administrative expenses	117,956		133,555	241,712	266,469
Total operating expenses	590,515		542,862	1,177,630	1,043,604
Operating income (loss)	53,331		29,632	98,495	47,190
Gain on extinguishment of debt		$ 200		221
Interest income (expense), net	(54,413)		(57,120)	(110,266)	(113,583)
Income (loss) before income tax (provision) benefit and income (loss) from equity investments	(1,082)		(27,488)	(11,550)	(66,393)
Income tax (provision) benefit	(3,305)		(2,738)	(11,481)	(7,266)
Income (loss) before income (loss) from equity investments	(4,387)		(30,226)	(23,031)	(73,659)
Income (loss) from equity investments	4		238	9	(1,291)
Net income (loss)	(4,383)		(29,988)	(23,022)	(74,950)
Less: Net (income) loss attributable to the noncontrolling interest	(91)		(243)	(529)	(366)
Net income (loss) attributable to inVentiv Health, Inc.	(4,474)		(30,231)	(23,551)	(75,316)
Reportable Legal Entities [Member] | Inventiv Health Inc [Member]
Operating expenses:
Selling, general and administrative expenses	16,822		20,491	37,951	36,578
Allocation of intercompany costs	(13,898)		(9,899)	(27,797)	(19,799)
Total operating expenses	2,924		10,592	10,154	16,779
Operating income (loss)	(2,924)		(10,592)	(10,154)	(16,779)
Gain on extinguishment of debt				221
Interest income (expense), net	(42,394)		(45,006)	(86,225)	(89,404)
Intercompany interest income (expense)	13,369		11,801	26,344	22,923
Income (loss) before income tax (provision) benefit and income (loss) from equity investments	(31,949)		(43,797)	(69,814)	(83,260)
Income (loss) before income (loss) from equity investments	(31,949)		(43,797)	(69,814)	(83,260)
Income (loss) from equity investments	27,475		13,566	46,263	7,944
Net income (loss)	(4,474)		(30,231)	(23,551)	(75,316)
Net income (loss) attributable to inVentiv Health, Inc.	(4,474)		(30,231)	(23,551)	(75,316)
Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member]
Condensed Income Statements Captions [Line Items]
Net revenues	432,250		382,908	851,586	729,889
Reimbursed out-of-pocket expenses	73,151		68,450	156,969	128,066
Total revenues	505,401		451,358	1,008,555	857,955
Operating expenses:
Cost of revenues	312,576		255,110	612,968	491,573
Reimbursable out-of-pocket expenses	73,151		68,450	156,969	128,066
Selling, general and administrative expenses	67,336		80,661	138,705	165,200
Allocation of intercompany costs	10,921		7,935	21,836	15,879
Total operating expenses	463,984		412,156	930,478	800,718
Operating income (loss)	41,417		39,202	78,077	57,237
Interest income (expense), net	(12,209)		(12,279)	(24,486)	(24,448)
Intercompany interest income (expense)	(13,103)		(11,554)	(25,818)	(22,526)
Income (loss) before income tax (provision) benefit and income (loss) from equity investments	16,105		15,369	27,773	10,263
Income tax (provision) benefit	(403)		(1,650)	(5,548)	(4,625)
Income (loss) before income (loss) from equity investments	15,702		13,719	22,225	5,638
Income (loss) from equity investments	9,554		(976)	20,128	654
Net income (loss)	25,256		12,743	42,353	6,292
Net income (loss) attributable to inVentiv Health, Inc.	25,256		12,743	42,353	6,292
Reportable Legal Entities [Member] | Non-Guarantor Subsidiaries [Member]
Condensed Income Statements Captions [Line Items]
Net revenues	137,165		112,927	267,098	222,678
Reimbursed out-of-pocket expenses	9,678		14,689	16,892	22,472
Total revenues	146,843		127,616	283,990	245,150
Operating expenses:
Cost of revenues	85,031		77,005	164,329	146,309
Reimbursable out-of-pocket expenses	9,678		14,689	16,892	22,472
Selling, general and administrative expenses	34,319		32,936	66,236	65,717
Allocation of intercompany costs	2,977		1,964	5,961	3,920
Total operating expenses	132,005		126,594	253,418	238,418
Operating income (loss)	14,838		1,022	30,572	6,732
Interest income (expense), net	190		165	445	269
Intercompany interest income (expense)	(266)		(247)	(526)	(397)
Income (loss) before income tax (provision) benefit and income (loss) from equity investments	14,762		940	30,491	6,604
Income tax (provision) benefit	(2,902)		(1,088)	(5,933)	(2,641)
Income (loss) before income (loss) from equity investments	11,860		(148)	24,558	3,963
Net income (loss)	11,860		(148)	24,558	3,963
Less: Net (income) loss attributable to the noncontrolling interest	(91)		(243)	(529)	(366)
Net income (loss) attributable to inVentiv Health, Inc.	11,769		(391)	24,029	3,597
Eliminations [Member]
Condensed Income Statements Captions [Line Items]
Net revenues	(8,393)		(6,418)	(16,366)	(12,173)
Reimbursed out-of-pocket expenses	(5)		(62)	(54)	(138)
Total revenues	(8,398)		(6,480)	(16,420)	(12,311)
Operating expenses:
Cost of revenues	(7,872)		(5,885)	(15,186)	(11,147)
Reimbursable out-of-pocket expenses	(5)		(62)	(54)	(138)
Selling, general and administrative expenses	(521)		(533)	(1,180)	(1,026)
Total operating expenses	(8,398)		(6,480)	(16,420)	(12,311)
Income (loss) from equity investments	(37,025)		(12,352)	(66,382)	(9,889)
Net income (loss)	(37,025)		(12,352)	(66,382)	(9,889)
Net income (loss) attributable to inVentiv Health, Inc.	$ (37,025)		$ (12,352)	$ (66,382)	$ (9,889)

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Guarantor Financial Information - Consolidating Statement of Comprehensive Loss (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Condensed Statement Of Income Captions [Line Items]
Net income (loss)	$ (4,383)	$ (29,988)	$ (23,022)	$ (74,950)
Other comprehensive income (loss):
Foreign currency translation adjustment	(1,560)	4,218	3,859	(1,227)
Total other comprehensive income (loss)	(1,560)	4,218	3,859	(1,227)
Total comprehensive income (loss)	(5,943)	(25,770)	(19,163)	(76,177)
Less: Comprehensive (income) loss attributable to the noncontrolling interest	(91)	(243)	(529)	(366)
Comprehensive income (loss) attributable to inVentiv Health, Inc.	(6,034)	(26,013)	(19,692)	(76,543)
Reportable Legal Entities [Member] | Inventiv Health Inc [Member]
Condensed Statement Of Income Captions [Line Items]
Net income (loss)	(4,474)	(30,231)	(23,551)	(75,316)
Other comprehensive income (loss):
Foreign currency translation adjustment	(1,560)	4,218	3,859	(1,227)
Total other comprehensive income (loss)	(1,560)	4,218	3,859	(1,227)
Total comprehensive income (loss)	(6,034)	(26,013)	(19,692)	(76,543)
Comprehensive income (loss) attributable to inVentiv Health, Inc.	(6,034)	(26,013)	(19,692)	(76,543)
Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member]
Condensed Statement Of Income Captions [Line Items]
Net income (loss)	25,256	12,743	42,353	6,292
Other comprehensive income (loss):
Foreign currency translation adjustment	(5,688)	5,113	(3,026)	(322)
Total other comprehensive income (loss)	(5,688)	5,113	(3,026)	(322)
Total comprehensive income (loss)	19,568	17,856	39,327	5,970
Comprehensive income (loss) attributable to inVentiv Health, Inc.	19,568	17,856	39,327	5,970
Reportable Legal Entities [Member] | Non-Guarantor Subsidiaries [Member]
Condensed Statement Of Income Captions [Line Items]
Net income (loss)	11,860	(148)	24,558	3,963
Other comprehensive income (loss):
Foreign currency translation adjustment	383	2,596	6,502	(1,415)
Total other comprehensive income (loss)	383	2,596	6,502	(1,415)
Total comprehensive income (loss)	12,243	2,448	31,060	2,548
Less: Comprehensive (income) loss attributable to the noncontrolling interest	(91)	(243)	(529)	(366)
Comprehensive income (loss) attributable to inVentiv Health, Inc.	12,152	2,205	30,531	2,182
Eliminations [Member]
Condensed Statement Of Income Captions [Line Items]
Net income (loss)	(37,025)	(12,352)	(66,382)	(9,889)
Other comprehensive income (loss):
Foreign currency translation adjustment	5,305	(7,709)	(3,476)	1,737
Total other comprehensive income (loss)	5,305	(7,709)	(3,476)	1,737
Total comprehensive income (loss)	(31,720)	(20,061)	(69,858)	(8,152)
Comprehensive income (loss) attributable to inVentiv Health, Inc.	$ (31,720)	$ (20,061)	$ (69,858)	$ (8,152)

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Guarantor Financial Information - Condensed Consolidating Statement of Cash Flows (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Cash flows from operating activities:
Net cash provided by (used in) operating activities	$ 25,282	$ 24,807
Cash flows from investing activities:
Purchases of property and equipment	(12,617)	(19,808)
Proceeds from vehicle sales and rebates on vehicle leases	8,320	6,826
Other, net	(248)	(32)
Net cash provided by (used in) investing activities	(4,545)	(13,014)
Cash flows from financing activities:
Repayments on capital leases and other financing arrangements	(20,312)	(14,943)
Borrowings under line of credit		153,000
Repayment on line of credit		(153,000)
Repurchase of Notes	(22,790)
Payment on installment note and contingent consideration related to acquisition	(2,322)	(2,082)
Payments to parent	(173)
Other, net	(226)	(470)
Net cash provided by (used in) financing activities	(45,823)	(17,495)
Effects of foreign currency exchange rate changes on cash	(354)	238
Net increase (decrease) in cash and cash equivalents	(25,440)	(5,464)
Cash and cash equivalents, beginning of period	121,317	57,059
Cash and cash equivalents, end of period	95,877	51,595
Reportable Legal Entities [Member] | Inventiv Health Inc [Member]
Cash flows from operating activities:
Net cash provided by (used in) operating activities	(67,876)	(81,925)
Cash flows from investing activities:
Purchases of property and equipment	(2,464)	(6,599)
Intercompany transfers	117,196	107,905
Other, net	(720)	(32)
Net cash provided by (used in) investing activities	114,012	101,274
Cash flows from financing activities:
Repayments on capital leases and other financing arrangements	(1,942)	(1,965)
Borrowings under line of credit		153,000
Repayment on line of credit		(153,000)
Repurchase of Notes	(22,790)
Payment on installment note and contingent consideration related to acquisition	(2,322)	(2,082)
Payments to parent	(173)
Other, net	489	38
Net cash provided by (used in) financing activities	(26,738)	(4,009)
Net increase (decrease) in cash and cash equivalents	19,398	15,340
Cash and cash equivalents, beginning of period	55,226	19,643
Cash and cash equivalents, end of period	74,624	34,983
Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member]
Cash flows from operating activities:
Net cash provided by (used in) operating activities	61,218	99,468
Cash flows from investing activities:
Purchases of property and equipment	(4,648)	(10,285)
Proceeds from vehicle sales and rebates on vehicle leases	8,320	6,826
Intercompany transfers	20,386	27,120
Net cash provided by (used in) investing activities	24,058	23,661
Cash flows from financing activities:
Repayments on capital leases and other financing arrangements	(18,495)	(12,726)
Intercompany transfers	(66,781)	(113,842)
Net cash provided by (used in) financing activities	(85,276)	(126,568)
Net increase (decrease) in cash and cash equivalents		(3,439)
Cash and cash equivalents, beginning of period		3,439
Reportable Legal Entities [Member] | Non-Guarantor Subsidiaries [Member]
Cash flows from operating activities:
Net cash provided by (used in) operating activities	37,813	12,189
Cash flows from investing activities:
Purchases of property and equipment	(5,505)	(2,924)
Other, net	472
Net cash provided by (used in) investing activities	(5,033)	(2,924)
Cash flows from financing activities:
Repayments on capital leases and other financing arrangements	125	(252)
Intercompany transfers	(66,620)	14,263
Other, net	(715)	(508)
Net cash provided by (used in) financing activities	(67,210)	13,503
Effects of foreign currency exchange rate changes on cash	(354)	238
Net increase (decrease) in cash and cash equivalents	(34,784)	23,006
Cash and cash equivalents, beginning of period	148,970	86,014
Cash and cash equivalents, end of period	114,186	109,020
Eliminations [Member]
Cash flows from operating activities:
Net cash provided by (used in) operating activities	(5,873)	(4,925)
Cash flows from investing activities:
Intercompany transfers	(137,582)	(135,025)
Net cash provided by (used in) investing activities	(137,582)	(135,025)
Cash flows from financing activities:
Intercompany transfers	133,401	99,579
Net cash provided by (used in) financing activities	133,401	99,579
Net increase (decrease) in cash and cash equivalents	(10,054)	(40,371)
Cash and cash equivalents, beginning of period	(82,879)	(52,037)
Cash and cash equivalents, end of period	$ (92,933)	$ (92,408)

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Subsequent Events - Additional Information (Detail)	Jul. 29, 2016
Subsequent Event [Member]
Subsequent Event [Line Items]
Common stock split, conversion ratio	10.8