IMS Health and Quintiles, two long-standing companies offering a variety of technology and information services to healthcare provider, payer and life sciences organizations, will combine in a “merger of equals” transaction.
Under terms of the acquisition, IMS Health will own 51.4 percent of shares of the combined company, with Quintiles owning 48.6 percent. Ari Bousbib, chair and CEO at IMS Health, will serve as chair and CEO of the new company, to be called Quintiles IMS Holdings Inc. Tom Pike, CEO of Quintiles, will serve as vice chairman. The board will be evenly split. The deal is expected to close in the second half of 2016.
The combined companies had 2015 revenue of $7.2 billion and believe they have a worldwide market opportunity of $230 billion by accelerating patient access to innovative medicines, demonstrating value and effectiveness of medicines, and improving life sciences companies’ return on investment from the $50 billion they spend annually on commercial and field operations, according to a joint announcement.
The new company expects to have about 50,000 employees in more than 100 nations.
Quintiles is a biopharmaceutical research firm, a major contractor of clinical research trials and operates more than 100 disease-specific clinical registries. The company also owns Encore, a healthcare industry consulting firm.
IMS Health offers a range of data sets covering physician prescribing data, claims, treatments, electronic health records, reference data, genomics, outcomes and social media. It also covers 90 percent of global pharmacy sales, according to the company. IMS also offers analytics and forecasting services.
The companies expect to maintain current headquarters in Connecticut (IMS Health) and North Carolina (Quintiles).
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