Piramal Healthcare completes acquisition of DRG
Piramal Healthcare Ltd today said it has completed acquisition of the US-based Decision Resources Group (DRG) for USD 635 million (nearly Rs 3,400 crore).
June 09, 2012 / 10:24 IST
Piramal Healthcare Ltd today said it has completed acquisition of the US-based Decision Resources Group (DRG) for USD 635 million (nearly Rs 3,400 crore).
Last month, the company had announced to acquire 100% stake in DRG. It had said the investment would be funded by an equal mix of debt and equity."The successful acquisition of the healthcare information and analytics leader, DRG, reflects our strategy to continue investing in strong intellectual property in the healthcare space," Piramal Healthcare Chairman Ajay Piramal said in a
statement.Piramal will now operate DRG as a stand-alone business and it will remain headquartered in Burlington, MA, the company said.DRG will continue to be led by Hoenigsberg and the existing senior management team, it added.The US-based firm provides web-enabled research, predictive analytics via proprietary databases and consulting services to the global healthcare industry.With 20% CAGR for the last five years, it is one of the fastest growing companies in the USD 5.7 billion global healthcare information industry. DRG projects revenues of USD 160 million for 2012.Shares of Piramal Healthcare were trading today at Rs 437 on the BSE in the late afternoon trade, down 0.22% from its previous close. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
