New York, August 24, 2016 -- Moody's commented that the approximately $1.4 billion acquisition of Bioclinica by international private equity firm Cinven is credit negative. Moody's currently rates parent company, Synarc-BioCore Holdings, LLC (dba "BioClinica") B3 (Corporate Family Rating) with a stable outlook. Moody's expects the Cinven transaction, which was announced Monday night, to leave the surviving business entity with higher financial leverage than it currently operates with. However, Moody's does not expect the ensuing rise in the firm's pro forma leverage to alter its ratings or outlook.

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