NEWS3 March 2010
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NEWS3 March 2010
US— Investment groups TPG Capital and the CPP Investment Board have completed their $5bn takeover of healthcare researcher IMS Health.
The $22-per-share deal was given the green light by more than 75% of the company’s stockholders in February and IMS is now a privately-held company.
IMS chairman and CEO David Carlucci (pictured) said: “This transaction has delivered significant value to our shareholders and is a strong endorsement of our business model, our teams and the leadership position we have built. As a private company we will continue to innovate for client needs and look forward to working with our new partners as we capitalise on our expanding opportunity in the healthcare market.”
TPG founding partner James Coulter added: “We are delighted to be working with the talented IMS management team to drive growth by expanding the company’s market intelligence offerings, which are crucial to the healthcare industry.”
IMS posted a 3% rise in revenue to $599.2m for the fourth quarter of 2009 and a 6% drop in sales to $2.19bn for the full year in its last set of results as a publicly-listed company earlier this month.
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