Piramal Healthcare has completed its previously announced acquisition of Decision Resources Group (DRG), a US based company in the healthcare information segment, for a consideration of US$ 635 million or Rs.3,400 crore. DRG provides high quality, web-enabled research, predictive analytics via proprietary databases and consulting services to the global healthcare industry.
DRG is focused on three market segments viz., the biopharma business unit, the market access business and the medical technology business. These three market segments are worth approximately US$ 2.5 billion, leaving considerable room for DRG to continue to grow its revenues. DRG usese proprietary databases and a network of over 1,25,000 healthcare professionals. It has over 290 highly qualified analysts putting together its products.
Ajay Piramal, chairman of Piramal Healthcare, said, “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. DRG plays a critical role in the global healthcare industry by providing its customers' high quality information services, which helps them compete more effectively.”
Piramal will now operate DRG as a stand-alone business. DRG will remain headquartered in Burlington, MA. The company will continue to be led by Hoenigsberg and the existing senior management team.
DRG With 20 per cent CAGR for the last five years, it is one of the fastest growing companies in the US$ 5.7 billion global healthcare information industry. DRG projects revenues of $160 million for 2012, 48 of the top 50 global pharmaceutical companies are its customers, with an overall customer retention rate of 95 per cent.