IMS Health Completes $5.2bn Sale

In the US, health care research giant IMS Health has announced completion of its acquisition by investment firms TPG Capital and the Canada Pension Plan Investment Board (CPPIB), for $5.2bn.

The firm received shareholder approval for its sale last month, as it announced a 3% increase in fourth quarter revenues to $599.2m and a 6% decline in revenues to $2,189.7m for full year 2009.

As part of the sale, IMS Health stockholders are entitled to receive $22.00 in cash for each share of the firm's common stock they hold. As a result of the acquisition, the company's stock will no longer be listed for trading on the New York Stock Exchange.

'This transaction has delivered significant value to our shareholders and is a strong endorsement of our business model, our teams and the leadership position we have built,' stated IMS Health Chairman and CEO David Carlucci. 'As a private company, we will continue to innovate for client needs and look forward to working with our new partners as we capitalize on our expanding opportunity in the healthcare market.'

Mark Wiseman, SVP, Private Investments at CPPIB described IMS Health as a 'world-class company with a strong management team and excellent growth prospects'.

Web site: www.imshealth.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.

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