The key objective of Clarivate Analytics behind this deal is to expand Life Science services and solutions portfolio.
Clarivate Analytics plc, a US-based company that offers trusted insights and analytics to speed up the pace of innovation, lately completed the acquisition of Decision Resources Group (DRG). The key objective of Clarivate Analytics behind this deal is to expand Life Science services and solutions portfolio, thus allowing the customers to speed up life-changing innovations and enhance patient outcomes and access across the globe.
While speaking on the occasion, Jerre Stead, Executive Chairman and CEO of Clarivate, reflected, “We are happy to welcome DRG to the Clarivate family and roll out the benefits of this deal to the customers. Both the firms are established on amazing people with extensive knowledge of industry, subject matter, and technology.”
“We will combine DRG with our Science Group. Combination of DRG’s services and solutions with the Life Sciences solutions of Clarivate, comprising CortellisTM, will will assist the customers in making sound evidence-based decisions to speed up clinical and commercial success.” Stead further added saying that this acquisition would expand the size of our Life Science business and help us become an industry-leading data and analytics provider to the Life Sciences ecosystem.
Combined Firm to Support Clients of the Life Science Business
The newly formed company will support clients in the drug, device, and medical technology lifecycle extending from research to outcome. It will act as a one-stop-shop for the customers of life sciences to improve the commercialisation of therapies. CEO of DRG, Vivek Sharma, posited, “This acquisition will create a more powerful platform for Decision Resources Group’s AI and analytics-enabled solutions to assist our clients in their quest to enhance patient health outcomes. This newly established platform will encourage our employees to continue focusing on collaborative innovation and client centricity.”
According to the sources, the deal was worth $950 million, out of which Clarivate paid $900 million in cash from a combination of equity proceeds and debt financing. Remaining $50 million of deferred consideration in the form of Clarivate ordinary shares is likely to be issued one year after the closure.