Ajay Piramal-led Piramal Enterprises Ltd has acquired US-based health economics data and technology company Context Matters Inc.
The acquisition, which was done through its wholly-owned subsidiary Decision Resources Group, was made at $0.036 apiece for the shares of common stock and at $0.293 apiece for the shares of multiple classes of preferred stock, Piramal Enterprises said in a stock market disclosure.
Context Matters, which was founded by S Yin Ho in 2010, delivers global market access insights to firms in the life sciences industry.
The acquisition will provide Decision Resources Group a core data asset for its global market access data and analytics business, Piramal Enterprises said.
Decision Resources Group offers data, analytics and services to the life sciences, payer and financial services industries across North America, Europe and Asia.
Decision Resources Group's acquisition of Context Matters is an arm’s-length transaction between two unrelated parties. Therefore, no governmental or regulatory approvals are required for the deal, it said.
Piramal Enterprises had acquired Decision Resources Group for Rs 3,400 crore ($635 million) in an all-cash deal in 2012. Last year, Decision Resources Group had acquired Adaptive Software LLC and its unit AdaptiveRx for up to $24.5 million.
Piramal Enterprises is a diversified conglomerate with a presence in pharmaceuticals, healthcare information management and financial services. Its consolidated revenues were over $1.3 billion in the financial year ended 31 March 2017, with 51% of the revenues generated from outside India.