Quintiles and IMS Health announce pla...
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ragupathyrenganathan
Quintiles and IMS Health announce plans to merge – PharmaTimes
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Quintiles and IMS Health are planning to merge in an all-stock deal worth nearly $9 billion, aiming to create a new clinical services and analytics powerhouse with annual revenues of more than $7 billion.

The companies say the move will improve clinical trial design, recruitment and execution in the $100-billion biopharma product development market by combining IMS Health’s global information solutions with Quintiles’ product development skills.

Also, the combined entity, which is to be called Quintiles IMS, will offer a distinctive global real-world evidence solutions platform underpinned by “a leading portfolio” of anonymous patient records, technology-enabled data collection and observational research experts, to help address critical healthcare issues of cost, value and patient outcomes.

On the financial side, the merger will accelerate revenue growth, maintain financial flexibility, offer tax benefits, and be accretive to adjusted earnings in 2017, with cost savings to hit $100 million in three years, the parties note.

“This powerful combination brings together leading technology and analytics with deep scientific expertise delivered on a global scale by our 50,000 immensely talented professionals in more than 100 markets,” said Ari Bousbib, chairman and chief executive of IMS Health. “Our combined business will accelerate growth, yield greater operating efficiencies and provide more flexibility for future expansion.”

The deal will leave IMS Health shareholders with an approximate 51.4 percent stake of the combined company with Quintiles shareholders owning the remaining 48.6 percent.

The transaction, which remains subject to customary closing conditions, including regulatory approvals and a green light from both IMS Health and Quintiles shareholders, is expected to close in the second half of this year.



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