Piramal Healthcare Ltd has completed the acquisition of the US-based Decision Resources Group (DRG) for $635 million (nearly Rs 3,400 crore).
Last month, the company had announced that it will acquire 100 per cent stake in DRG. It had said that 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, Mr Ajay Piramal, said in a statement.
Piramal will now operate Decision Resources Group as a stand-alone business and it will remain headquartered in Burlington, MA, the company said.
Decision Resources Group will continue to be led by chief executive, Mr 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 per cent CAGR in the last five years, it is one of the fastest growing companies in the $5.7-billion global healthcare information industry. DRG projects revenues of $160 million for 2012.
Shares of Piramal Healthcare were trading at Rs 437 on the BSE in the late afternoon trade today, down 0.22 per cent from its previous close.