Symphony Buys Source, Forms Health Division

Private equity firm Symphony Technology Group (STG) has acquired patient and physician data provider Source Healthcare Analytics; and will combine it with its existing pharma offer to form a new division called Symphony Health Solutions. Terms of the deal were not disclosed.

Formerly owned by information services group Wolters Kluwer, Source provides prescribing and usage information and analytics to the pharmaceutical, biotech and financial industries. Its brands include Source, ProMetis and inThought, through which clients gather patient and physician-level data and receive market research reports.

As part of the transaction, STG - which sold its majority interest in retail market intelligence giant SymphonyIRI in June 2011 - will combine Source with its existing pharma market research firm ImpactRx (which acquired physician panel providers TargetRx and AlphaDetail last year) to form Symphony Health Solutions.

The four businesses will be integrated over time, and their current leaders - Greg Ellis, President and CEO, ImpactRx; Bob Jansen, President Source Commercial; and Michelle Woker, President Source Operations - will continue in their respective roles.

STG's MD J.T. Treadwell explains: 'Our intent when we acquired ImpactRx was to build a solutions company capable of delivering value through insights informed by data. By building upon our earlier acquisitions of TargetRx and AlphaDetail, we have greatly accelerated our ability to deliver comprehensive value across a range of commercial decisions, and deliver patient-centric insights at a unique scale.'

Web sites: www.symphonytg.com , www.impactrx.com and www.alphadetail.com.