US-based database and consulting services provider Decision Resources Group (DRG), a subsidiary of Piramal Enterprises, has acquired UK’s integrated market access service provider Abacus International for an undisclosed amount.
The deal will help DRG expand its market access globally. Post-acquisition, Abacus will become part of its market access business unit, which currently includes brands like Fingertip Formulary, HealthLeaders-InterStudy, PharmaStrat and Pinsonault. Abacus International’s headquarters will not be shifted though, and it will operate from Bicester in the UK, as before.
The transaction comes about six months after Piramal Enterprises struck a deal to acquire DRG for $635 million in an all-cash deal.
“Besides expanding our global market access services and products, the acquisition also allows us to offer market access capabilities for the medical device and diagnostic industry, as well as to significantly expand our commercial support capabilities, with industry-leading mobile communication tools,” said Jim Lang, president of the market access business unit at Decision Resources Group.
Founded in 1995, Abacus International is a life science tool and services company which offers health outcome and market access services throughout the product lifecycle.
“We view this acquisition as a major step toward becoming a fully integrated global market access solutions provider. Our team of experienced health, economic and market access specialists look forward to incorporating the market and payer research data held by sister companies at Decision Resources Group to improve our payer insight and value communications deliverables,” said Simon Howard, CEO of Abacus International.
Results Healthcare, a division of Results International, acted as advisors to Abacus International in the transaction.
With the focus on three key areas – biopharma, market access and medical technology business – DRG’s products include detailed market assessments based on a specialised network of over 125,000 healthcare professionals (primarily physicians), proprietary databases of market information and detailed analytical reports on specific therapeutic areas, according to the company.
(Edited by Sanghamitra Mandal)