Syneos Health Welcomes Costa Panagos as New CEO

Biopharmaceutical solutions organization Syneos Health has announced the appointment of Costa Panagos as its new Chief Executive Officer (CEO).

Panagos, an industry veteran with extensive experience in the healthcare and life sciences sector, takes over from Colin Shannon, who served as CEO for one year following the company’s acquisition by a consortium of private equity firms. Shannon has now been appointed Executive Chairman of Syneos.

Shannon had filled the seat of Michelle Keefe in October 2023, who served as CEO for a year and a half.

The move marks a significant step in Syneos Health’s strategic vision for growth and innovation under new leadership.

In a statement, Shannon expressed that the company is “delighted to welcome such a highly accomplished executive with a strong track record of execution and innovation.”

“Costa will continue to focus on our people and our customers while building on the positive momentum we established over the past year. I am fully confident in his leadership and commitment to building a highly competitive organization,” he said.

Syneos said Panagos brings a wealth of leadership experience and industry knowledge, having previously held various executive roles within the healthcare and clinical development sectors.

Headquartered in North Carolina, Syneos offers contract research and commercial services to biopharmaceutical companies.

Panagos’ track record of driving operational excellence, coupled with his deep understanding of biopharmaceutical services, positions him as an ideal fit to steer Syneos Health into its next phase of transformation, the company asserted.

Panagos has over two decades of experience in the life sciences industry, including key leadership roles at major organizations that span clinical research, pharmaceutical development and healthcare technology.

Prior to joining Syneos Health, Panagos served as President, Research & Development Solutions at IQVIA, where he led the expansion of its network and capabilities, achieving record service bookings. Before IQVIA, he worked in various roles, including at Q2 Solutions and Bayer.

In his new role as CEO, Panagos is expected to focus on strengthening Syneos Health’s integrated solutions portfolio, which spans clinical development, commercialization and consulting services.

“I am honored to join Syneos Health and to lead such a talented and dedicated team,” Panagos said in the statement. “The biopharmaceutical landscape is rapidly evolving, and Syneos is uniquely positioned to address the critical needs of our clients. Together, we will continue to innovate and deliver integrated solutions that support our customers’ success and, ultimately, improve patient outcomes globally.”

Panagos’ appointment comes at a pivotal moment for Syneos Health, which recently transitioned to private ownership after being acquired by a consortium of investment firms, including Elliott Investment Management, Patient Square Capital and Veritas Capital.

The acquisition, valued at $7.1 billion, was completed in September 2023, seemingly marking a shift in the company’s strategy toward long-term growth and enhanced flexibility to adapt to industry changes.

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