BURLINGTON, Mass., Jan. 17, 2012 /PRNewswire/ -- inVentiv Health, Inc., offering best-in-class clinical, commercial and consulting services to the healthcare industry, today announced that it has entered into a definitive agreement to acquire certain promotional and medical audit businesses of SDI Health, which IMS Health has committed to divest in connection with obtaining regulatory approval of its acquisition of SDI. Financial terms of the transaction were not disclosed.
The business will be incorporated into the offerings of Campbell Alliance, an inVentiv Health company and the leading management consulting firm specializing in the pharmaceutical and biotech industry. Through the acquisition, Campbell Alliance adds a robust range of promotional and medical audits based on proprietary research that leading healthcare companies use to better understand their markets and make more highly informed business decisions.
"This is an important step in boosting inVentiv's capabilities in market research and analytics," said Paul Meister, Chief Executive Officer of inVentiv Health. "In combination with our leading consulting services, these additional capabilities allow us to provide a more comprehensive offering that augments our clients' business decision-making."
Campbell Alliance's market research and analytics group will combine the acquired business with its current custom quantitative research, qualitative market research, key opinion leader identification and mapping, access to a range of longitudinal de-identified patient and prescription data, and integrated analytics services. In addition, the group currently offers complementary audits, including its Metropolitan Promotional Audit (MPA) and VisionCare contact lens audit.
Nader Naeymi-Rad, CEO of Campbell Alliance, added, "We're seeing a growing demand for proprietary research services from our Campbell Alliance clients and believe that our enhanced market research capabilities, particularly the ones acquired on the syndicated side, will allow us to establish a leadership position in that market."
The transaction is subject to customary closing conditions and approval by the Federal Trade Commission following a public comment period, and is expected to close in February 2012.
About inVentiv Health
inVentiv Health, Inc. is a leading global provider of best-in-class clinical, commercial and consulting services to companies seeking to accelerate performance. inVentiv's client roster includes more than 550 pharmaceutical, biotech and life sciences companies. With 13,000 employees in 40 countries, inVentiv rapidly transforms promising ideas into commercial reality. inVentiv Health Inc. is privately owned by inVentiv Group Holdings Inc., an organization sponsored by affiliates of Thomas H. Lee Partners, L.P., Liberty Lane Partners and members of the inVentiv management team. For more information, visit http://www.inventivhealth.com.
About Campbell Alliance
Campbell Alliance is the Consulting business segment of inVentiv Health, a leading global provider of best-in-class clinical, commercial, and consulting services to companies seeking to accelerate performance. Campbell Alliance is the leading management consulting firm specializing in the pharmaceutical and biotechnology industry. The firm's clients include all of the world's top-20 pharmaceutical companies, as well as numerous emerging and midsize firms. Campbell Alliance is organized into practice areas, each specializing in a critical industry function: Brand Management, Business Development, Clinical Development, Commercial Effectiveness, Pricing and Market Access, and Medical Affairs. From its locations in Raleigh, NC, Parsippany, NJ, Los Angeles, San Francisco, Chicago, Boston, Philadelphia, New York City, Atlanta, and Zug, Switzerland, the firm serves clients throughout North America, Europe, and Japan. For more information on Campbell Alliance, please visit http://www.campbellalliance.com.
About IMS Health
IMS Health is the leading provider of information, services and technology for the healthcare industry around the world. The company draws on its global technology infrastructure and unique combination of in-depth, sophisticated analytics, on-shore and off-shore commercial services, and consulting platforms to help clients better understand the performance and value of medicines. With a presence in 100+ countries and more than 55 years of industry experience, IMS serves leading decision makers in healthcare, including pharmaceutical manufacturers and distributors, providers, payers, government agencies, policymakers, researchers and the financial community. Additional information is available at http://www.imshealth.com.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks that may cause inVentiv Health's performance to differ materially. Such risks include, without limitation: the impact of our substantial level of indebtedness on our ability to generate sufficient cash to fulfill our obligations under our existing debt instruments or our ability to incur additional indebtedness; the impact of the consummation of the acquisition anticipated by this release and any future announced acquisitions, and any additional leverage we may incur in connection with the financing thereof, on our ratings and the ratings of our debt securities; our ability to sufficiently increase our revenues and maintain or decrease expenses and cash capital expenditures to permit us to fund our operations; our ability to continue to comply with the covenants and terms of our senior secured credit facilities and to access sufficient capital under our credit agreement or from other sources of debt or equity financing to fund our operations; the impact of any default by any of our credit providers or swap counterparties; our ability to accurately forecast costs to be incurred in providing services under fixed price contracts; our ability to accurately forecast insurance claims within our self-insured programs; the potential impact of pricing pressures on pharmaceutical manufacturers from future healthcare reform initiatives or from changes in the reimbursement policies of third-party payers; our ability to grow our existing client relationships, obtain new clients and cross-sell our services; the potential impact of financial, economic, political and other risks, including interest rate and exchange rate risks, related to conducting business internationally; our ability to successfully operate new lines of business; our ability to manage our infrastructure and resources to support our growth; our ability to successfully identify new businesses to acquire, conclude acquisition negotiations and integrate the acquired businesses into our operation, and the resulting synergies; the resolution of purchase price adjustment disputes in connection with our recent acquisitions and related impacts; any disruptions, impairments, or malfunctions affecting software as well as excessive costs or delays that may adversely impact our continued investment in and development of software; the potential impact of government regulation on us and on our client base; our ability to comply with all applicable laws as well as our ability to successfully implement from a timing and cost perspective any changes in applicable laws; our ability to recruit, motivate and retain qualified personnel, including sales representatives; the possibility that client agreements will be terminated or not renewed; any potential impairment of goodwill or intangible assets; consolidation in the pharmaceutical industry; changes in trends in the healthcare and pharmaceutical industries or in pharmaceutical outsourcing, including initiatives by our clients to perform services we offer internally; the potential liability associated with bringing new drugs to market, including potential liability from injury to clinical trial participants; and the actual impact of the adoption of certain accounting standards; our ability to maintain technological advantages in a variety of functional areas, including sales force automation, electronic claims surveillance and patient compliance. Readers of this notice are referred to reports provided to investors from time to time and the offering memorandums provided in connection with the issuance of our senior secured notes for further discussion of these and other factors.
|SOURCE inVentiv Health|
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