Piramal Healthcare to acquire Decision Resources for $635m
INDIA— Pharmaceutical firm Piramal Healthcare has agreed to acquire US-based research and analytics agency Decision Resources Group (DRG) from Providence Equity Partners for $635m.
DRG will continue to operate as a standalone business from its headquarters in Burlington, Massachusetts, with CEO Peter Hoenigsberg (pictured) remaining at the helm of the company. It has predicted revenue of $160m for 2012 and counts 48 of the world’s top pharmaceutical companies as clients.
Ajay Piramal, chairman at Piramal Healthcare, said: “The need for specialist information is critical and the demand is growing. DRG’s portfolio of products is widely regarded as the gold 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.”
DRG companies include Manhattan Research, PharmaStrat and Millennium Research Group, among others.
Hoenigsberg said: “This is an excellent opportunity for our business, customers and employees. My team and I are excited to be part of the Piramal Group and are confident that its expertise in acquiring, integrating and growing businesses will support our continued growth.”