A PBC is a for-profit corporation that has also adopted a public benefit purpose. Our public benefit purpose is to help make the industries we serve more productive and create high-quality employment opportunities.
This aligns with our work to deliver technology, data, and services to support life sciences companies in their mission to improve and extend life. With a focus on supporting the industry’s most critical functions from clinical trials through commercialization, we help customers more efficiently and effectively get the right treatments to the right patients.
We believe that conversion to a PBC will be beneficial to our long-term financial results. It can give customers even greater confidence that our interests are not only well aligned today but will remain that way. We also believe a PBC structure will help us attract more talented people to Veeva.
In February 2021, we will become the first public company in the U.S. to convert and the largest PBC. This move follows our history of leading in areas that will advance the company, the industries we serve, and our stakeholders over the long-term.