Indian drug maker Piramal Healthcare has decided to acquire US-based healthcare data provider, Decision Resources Group (DRG), for a consideration of around $635m.
Following the acquisition of DRG, Piramal will operate DRG as a stand-alone business while retaining its headquarters in Burlington, US.
The transaction is likely to close by 30 June 2012, subject to customary regulatory approvals and closing conditions.
Piramal Healthcare chairman Ajay Piramal said, "We will leverage our longstanding reputation and relationships with global pharma companies, our knowledge of emerging markets as well as our track record of successful acquisitions as we continue to grow further DRG's leadership position in the healthcare information and analytics industry."
DRG provides web-enabled research, predictive analytics via proprietary databases and consulting services to the global healthcare industry.