Ingenix is selling part of its life sciences business and reorganizing the rest under a new name and leader.

The Eden Prairie, Minn.-based vendor will sell its clinical trial outsourcing business to inVentiv Health, for an undisclosed price. The acquired business, called i3, generates about $400 million a year in revenue. Somerset, N.J.-based inVentiv Health is a clinical research organization that conducts clinical trials, as well as offering sales and marketing support for the commercialized product.

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