IMS Health and Quintiles have completed their merger to transform the two firms into a single, information and technology-led healthcare service provider.
The new offering – renamed QuintilesIMS – becomes the world’s largest pharma services provider, with a market value of almost $18bn and around 50,000 employees.
Together, information and technology company IMS Health and product development and healthcare services provider Quintiles will offer an end-to-end clinical and commercial package to pharma clients.
The client offer will include the streamlining clinical trial design and leveraging technology solutions to drive new insights.
With the new firm split 51.1% to 48.6% between IMS Health and Quintiles’ respective shareholders, Ari Bousbib, IMS Health’s chairman and chief executive, holds the top roles while Quintiles’ chief executive Tom Pike becomes vice chairman.
Pike said: “This combination addresses life sciences companies’ most pressing needs: to transform the clinical development of innovative medicines, demonstrate the value of these medicines in the real world, and drive commercial success.”
The two firms will each contribute six directors to form the new board of directors, led by Quintiles’ founder Dr Dennis Gillings.
QuintilesIMS said it would make cost, value and patient outcomes a top priority, and create a dedicated real-world evidence solutions platform.
IMS Health and Quintiles, which have operations in over 100 countries, plan to retain their respective headquarters in Danbury, Conneticut, and Research Triangle Park, North Carolina.
Pike added: “We are bringing together two best-in-class leaders. I’m confident that together we will make our clients even more successful.”
