Ann: MDR successfully completes Placement & Institutional Offer, page-5

still quite disappointing the price has not rallied given what appears to be a decent acquisition at a reasonable price

USD34.5m paid for revenues of ~USD26m (1.33 times revenues) and possibly less given that earn-out assumes 15%-20% growth in revenues next CY seems like an excellent purchase (probably a distraction for Syneos)

the challenge is that mgmt seem so lacklustre & seem to have little ability to market the stock to institutions, which may have been why they could not get the placement done at 45c as initially proposed

I suspect the price will now hover at at 38c unless mgmt show the potential or someone sees the opportunity, because we are unlikely to see any tangible results from this for another 12 mths.

In the meantime, hopefully Asia/UK/US (HMS) starts showing some results this half year......IMO too many big announcements, big partnerships etc, but little in the way of bottom line results