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.
Ingenix's other life sciences businesses, which operated under the i3 name and focus on aiding pharmaceutical, biotechnology and medical device companies in commercializing their products, will remain at Ingenix and operate under the newly named Ingenix Life Sciences division. These businesses use proprietary software and other capabilities to help clients evaluate the outcomes, quality, safety and commercialization potential of new medications, devices, therapies and treatments.
The acquired clinical trials business at inVentiv Health will retain the i3 name. Glenn Bilawsky, who served as CEO of i3 at Ingenix, will lead the unit at inVentiv Health. Lee Valenta, COO of Ingenix for five years, will become president of Ingenix Life Sciences.
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