Completes acquisition for approximately Rs 3,400 crore
Piramal Healthcare has completed its previously announced acquisition of Decision Resources Group (DRG), a US-based company in the healthcare information segment, for a consideration of approximately $ 635 million.
DRG provides high quality, web-enabled research, predictive analytics via proprietary databases and consulting services to the global healthcare industry. With 20 per cent CAGR for the last five years, it is one of the fastest growing companies in the $ 5.7 billion global healthcare information industry. DRG projects revenues of $ 160 million for 2012. 48 of the top 50 global pharmaceutical companies are its customers, with an overall customer retention rate of 95 per cent.
DRG is focused on three market segments: (1) the Biopharma business unit; (2) the Market Access business (3) the Medical Technology business. These three market segments are worth approximately $ 2.5 billion, leaving considerable room for DRG to continue to grow its revenues. DRG uses proprietary databases and a network of over 125,000 healthcare professionals. It has over 290 highly qualified analysts putting together its products.
Commenting on the DRG acquisition, Ajay Piramal, Chairman, Piramal Healthcare said, “The successful acquisition of the healthcare information and analytics leader, DRG, reflects our strategy to continue investing in strong intellectual property in the healthcare space. DRG plays a critical role in the global healthcare industry by providing its customers’ high quality information services, which helps them compete more effectively.”
Piramal will now operate DRG as a stand-alone business. DRG will remain headquartered in Burlington, MA. The company will continue to be led by Peter Hoenigsberg, CEO, DRG and the existing senior management team.
EP News Bureau – Mumbai
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