TPG Capital’s exit at Novotech, Asia’s largest independent clinical contract research organisation, has entered the next phase – formal management meet-and-greets.

Street Talk understands Novotech’s top brass are preparing to front prospective acquirers in Singapore in the last week of October as they seek to get their heads around the $125 million-a-year pro forma EBITDA business. TPG owns a controlling stake in the asset and has tapped Jefferies’ country head, Michael Stock, and Goldman Sachs’ head of healthcare, Ben Bartholomaeus, for advice, as revealed by this column.