SOMERSET, N.J. & EDEN PRAIRIE, Minn.--(BUSINESS WIRE)-- inVentiv Health, a leading provider of outsourced clinical development, launch and commercial services to the global health care industry, today announced it has signed a definitive agreement to purchase the i3 clinical development businesses from Ingenix. The proposed transaction, covering businesses that generate approximately $400 million in annual gross revenue, is subject to customary closing conditions and is expected to close in the first half of this year.
Upon close of the proposed transaction, inVentiv will acquire the following businesses from Ingenix: i3 Research, i3 Statprobe and i3 Pharma Resourcing. These businesses will retain the i3 brand name and will be aligned with inVentiv’s other clinical development offerings, advancing i3’s position as a top-tier, global CRO serving pharmaceutical, biotech and medical device companies. Glenn Bilawsky will remain CEO of i3.
Ingenix will align all of its commercialization, safety, regulatory and late phase service offerings under its newly-launched Ingenix Life Sciences division, led by Lee Valenta, who has been COO of Ingenix for the past five years. Ingenix will provide additional details about Ingenix Life Sciences in a separate announcement today.
About Ingenix Ingenix transforms organizations and improves health care through information and technology. Organizations rely on its innovative products, services and consulting to improve the delivery and operations of their business. Through its over 13,000 employees around the world, Ingenix serves physicians, hospitals, government agencies, health plans and life sciences companies. For more information about Ingenix, visit www.ingenix.com.
About inVentiv Health inVentiv Health, Inc. is a leading, global provider of data-driven, outsourced solutions to the pharmaceutical, life sciences and healthcare industries. inVentiv’s full suite of marketing, sales, product development and post-approval solutions drive speed and effectiveness across all phases of the product lifecycle, leading to quicker development and superior results throughout product launch and commercialization. inVentiv’s client roster consists of more than 350 leading pharmaceutical, biotech, life sciences and healthcare payer companies. inVentiv Health, Inc. is privately owned by inVentiv Group Holdings, Inc., an entity sponsored by affiliates of Thomas H. Lee Partners, L.P., Liberty Lane Partners, and members of the inVentiv management team. For more information, visit www.inventivhealth.com.
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Ingenix Karin Olson, 952-833-6080 Karin.Olson@Ingenix.com or inVentiv Health, Inc. Marcia Frederick, 614-543-6281 Mfrederick@inventivhealth.com
