SOMERSET, N.J., Nov. 7 /PRNewswire-FirstCall/ -- inVentiv Health, Inc. announced today that is has completed the acquisition of American Speakers Education Research Training LLC (ASERT), a medical education and training company, and DialogCoach(TM) LLC, a specialty training organization that employs proprietary software tools and e-learning solutions to improve sales force effectiveness.
ASERT delivers customized education and training solutions (advisory boards, modules, and other unique training solutions) to the pharmaceutical, biotech, medical device and life sciences industries. The DialogCoach(TM) product is an interactive, personal role play simulator system which incorporates creative instructional design and voice recognition technology. The system is designed to take learners beyond role play, resulting in significant improvements in retention and post-training performance.
Under the terms of the agreement, inVentiv will acquire ASERT and DialogCoach(TM) for $5.0 million in cash and stock, plus earn-out payments for exceeding specified financial targets. The acquisition is expected to be modestly accretive to inVentiv’s earnings.
Terry Herring, President and CEO of inVentiv Commercial said, “The acquisition of ASERT and DialogCoach(TM) strengthens the training and support service capabilities of our Professional Development Group (PDG), consistent with the growing importance of these specialized service offerings within inVentiv Commercial Services. DialogCoach(TM) is a well-known and respected training tool that currently is being utilized by several top tier pharmaceutical companies and provides a very complementary addition to our sales force training offerings. This combination further capitalizes on synergies realized in collaborations to-date by PDG with ASERT and DialogCoach(TM), and enables us to provide a broader array of “best in class” sales force training solutions for our clients.”
Bill Jacobs, President of ASERT and DialogCoach(TM), added, “Industry trends continue to favor highly effective and efficient sales force training programs. Joining inVentiv provides the ASERT and DialogCoach(TM) businesses with significantly enhanced market access and opportunity to accelerate use of the DialogCoach(TM) training tools. Most importantly, combining with inVentiv PDG facilitates an even more streamlined solution for our clients.”
Ventiv’s Professional Development Group (PDG) provides a variety of training services to the pharmaceutical and biotech industry, ranging from initial skill assessments to specialized skill-set training and development. Their customized curriculum design, development and delivery focuses on the areas of communication, advanced selling skills, leadership, and management. For more information on the Ventiv Professional Development Group, contact Bryan Horveath, Vice President and Managing Director, pdg@inventivhealth.com.
About ASERT and DialogCoach(TM)
ASERT LLC is a training company that specializes in the pharmaceutical, biotechnology and medical devices industries. DialogCoach(TM) LLC is a specialty training organization developed around a proprietary software, DialogCoach(TM), and e-learning solutions to improve sales force and call center effectiveness. DialogCoach(TM) leverages the benefits and effectiveness of cyclical learning to improve the habits of sales team to ensure they deliver results. For more information visit www.dialogcoach.com and www.asert-llc.com.
About inVentiv Health
inVentiv Health, Inc. is the leading provider of commercialization and complementary services to the global pharmaceutical, life sciences and biotechnology industries. inVentiv delivers its customized clinical, sales, marketing and communications solutions through its three core business segments: inVentiv Clinical, inVentiv Communications and inVentiv Commercial. inVentiv Health currently works with over 200 unique pharmaceutical, biotech and life sciences clients, including all top 20 global pharmaceutical companies. For more information, visit www.inventivhealth.com.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks that may cause inVentiv Health’s performance to differ materially. Such risks include, without limitation: changes in trends in the pharmaceutical industry or in pharmaceutical outsourcing; our ability to compete successfully with other services in the market; our ability to maintain large client contracts or to enter into new contracts; uncertainties related to future incentive payments; and, our ability to operate successfully in new lines of business. Readers of this press release are referred to documents filed from time to time by inVentiv Health Inc. with the Securities and Exchange Commission for further discussion of these and other factors.
inVentiv Health, Inc.
CONTACT: Investors or Corporate, John Emery, CFO, +1-732-537-4804,investor@inventivhealth.com, or Media, Felicia Vonella, +1-212-308-7155,fvonella@inventivhealth.com, both of inVentiv Health, Inc.
Web site: http://www.inventivhealth.com/
