Piramal Enterprises has acquired the UK-based market analytics company Abacus International, giving it access to the European markets.
The deal comes about six months after Piramal Enterprises had acquired Massachusetts-based market analytics company Decision Resources Group (DRG) for Rs 3,400 crore.
In fact, the latest acquisition of 17-year-old Abacus is through DRG, now a Piramal Enterprises subsidiary, the company said, without disclosing financial details of the transaction.
It is a small transaction, a company official said, adding that it would be financed through internal resources and local debt.
The value of the deal is the access DRG (and Piramal) get to European markets.
Abacus International develops evidence-based global market access solutions for several global healthcare companies.
It will be part of the Market Access Business Unit at DRG that currently includes the brands: Fingertip Formulary, HealthLeaders-InterStudy, PharmaStrat and Pinsonault, a Piramal note said. Abacus differentiates itself by offering integrated market access solutions across the entire product lifecycle from payer strategy, through technical disciplines such as modelling and systematic review to value communications and health technology assessment.
An in-house multimedia team enables Abacus to differentiate their service offering using innovative software solutions including Web, mobile and iPad® applications.
The acquisition is part of DRG’s overall strategy to acquire and/or build leading brands that can leverage each other’s thought leadership to create products and services for the healthcare industry.
Abacus International will remain headquartered in Bicester, England, the note added.
Results Healthcare, a division of Results International, acted as advisors to Abacus International.