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Genstar Is Said to Explore Possible $5 Billion Advarra Sale

  • Private equity owner also looking at IPO for Advarra
  • Company is biggest U.S. clinical trial review firm of its kind
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Private equity firm Genstar Capital is exploring a potential sale of Advarra Inc. that could value the drug-research services firm at $5 billion or more, according to people with knowledge of the matter. 

Genstar is also considering taking Advarra public, said the people, who asked not to be identified because the matter isn’t public. The company, which is expected to draw interest from other private equity firms, generates about $200 million a year in earnings before interest, taxes, depreciation and amortization, the people said.