The recently announced acquisition of Privacy Analytics by IMS Health helps it leverage its recent expansion of data sources and gives ensure the privacy and security of that information.
John Osberg, a mergers and acquisitions specialist at Informed Partners, lauds the move by IMS Health, a healthcare information and technology services company, which acquired Privacy Analytics for an undisclosed price.
Privacy Analytics specializes in de-identification of structured and unstructured data to expand the types of analytics that researchers and other industry stakeholders can conduct while adhering to standards to protect the privacy and security of health information, Osberg says. It also offers data governance software and advisory services to optimize use of newer and more complex data sets.
IMS offers a range of data sets, which include more than 500 million anonymized patient records, for analytics purposes such as research, product development, marketing and surveillance. Its clients include pharmaceutical firms, providers, insurers, researchers, financial firms and government agencies. IMS used Privacy Analytics’ services before deciding to buy it.
Osberg says he is impressed by the level of talent at Privacy Analytics. “They have a mix of critical and essential best-of-breed de-identifiable tools. The intellectual property IMS is getting is impressive.”
Earlier this month, IMS announced a “merger of equals” with Quintiles, a biopharmaceutical research firm, a major contractor of clinical research trials, and operator of more than 100 disease-specific clinical registries. The two business moves gives the combined organization new tools to serve researchers.
The acquisition of Privacy Analytics better leverages the IMS-Quintiles merger, Osberg says, adding that “This is a product that fits into the combined company and unlocks more data for clinical trials.”
Further, as hackers ratchet up the cyber risk and vendors as well as providers must meet the threat, the de-identification tools of Privacy Analytics are timely offerings for the healthcare market, Osberg says.
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