Mumbai-based Piramal Healthcare has agreed to acquire Decision Resources Group, a US-based company in the healthcare information segment for about Rs 3,400 crore.
Decision Resources Group provides web-enabled research, predictive analytics via proprietary databases and consulting services to the global healthcare industry, and 48 of the top 50 global pharma companies are its customers, Piramal said on Wednesday.
It has grown at a compounded rate of 20% for the last five years and has projected revenue of USD 160 million in 2012, it added.
The three market segments -- biopharma, market access and medical technology -- that Decision Resources covers are worth about USD 2.5 billion, leaving considerable room for it to continue to grow its revenues.
The deal is expected to close by June 30, subject to regulatory approvals. Post completion of the deal, Piramal will operate Decision Resources as a standalone business. It will remain headquartered at Burlington in Massachusetts, USA and will continue be led by Chief Executive Peter Hoenigsberg and the existing senior management team, according to Piramal.
"DRG's portfolio of products is widely regarded asgold standard of information. We will leverage our longstanding reputation and relationships with global pharma companies, our knowledge of emerging markets as well as our track record of successful acquisitions as we continue to grow further DRG's leadership position in the healthcare information and analytics industry," it said.
Piramal Healthcare shares were up 1.1% at Rs 434.35 on NSE in morning trade.
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