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IMS Health acquired in $5.2bn deal

IMS Health is to be acquired by TPG Capital and the CPP Investment Board in a transaction worth $5.2bn

IMS Health, who provide market intelligence to the pharmaceutical and healthcare industries, is to be acquired by TPG Capital and the CPP Investment Board (CPPIB) in a transaction worth $5.2bn including the assumption of debt.

The deal will see IMS shareholders receive $22 per share – around 50 per cent over the closing price.

"This transaction enables our shareholders to realise substantial value from their investment in IMS with an immediate cash premium, while at the same time strengthening our position to capture long-term growth opportunities," said IMS chairman and CEO David R Carlucci.

"With the backing of world-class private equity partners, we will continue our focus on expanding into new markets, further improving the quality and depth of offerings we deliver to our clients, and playing a bigger role in the healthcare market," Carlucci added.

The IMS board of directors unanimously approved the agreement. They took guidance from a specialist committee who were established to review IMS' strategic alternatives. The transaction includes fully committed financing. This is made up of equity investments from TPG and CPPIB and debt financing provided by affiliates such as Goldman Sachs & Co.

The deal is subject to approval from IMS shareholders and regulatory and customary closing conditions. It is expected to complete by the end of Q1 2010.

5th November 2009

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