Diversified group Piramal Enterprises's subsidiary Decision Resources Group has acquired UK-based integrated market access service provider Abacus International for an undisclosed sum.
The acquisition will result in a significant global expansion of Decision Resources Group's market access capabilities, Piramal Enterprises today said in a statement.
"Abacus in an important acquisition in Decision Resources Group's (DRG) overall strategy to expand our market access capabilities and offer our clients the most innovative, high-value advisory solutions," DRG CEO Peter Hoengsberg said, adding it would boost the company's position in Europe as in important resource for healthcare firms worldwide.
Abacus will be a part of the market access business unit at Decision Resources Group (DRG) which currently includes the brands, Fingertip Formulary, HealthLeader-InterStudy, PharmaStrat and Pinsonault, the company said.
Commenting on the acquisition, DRG President – Market Access Business Unit Jim Lang said: "Besides expanding our global market access services and products, the acquisition also allows us to now offer market access capabilities for the medical device and industry-leading mobile communication tools."
Abacus International CEO Simon Howard said the deal would help the firm in becoming a fully integrated global market access solutions provider.
The company will continue to be headquartered in Bicester, England, the statement added.
In May this year, Piramal Enterprise had announced acquisition of US-based firm Decision Resources Group for a consideration of nearly USD 635 million (Rs 3,400 crore) to boost research and development.
Scrips of Piramal Enterprises were trading at Rs 494 per share during the afternoon trade, up 0.28 per cent from the previous close on the BSE.
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PE arm of Piramal Enterprises announces exits worth Rs 440 cr
Mumbai, Dec 4 (PTI) Private equity arm of Piramal Enterprises, Indiareit Fund Advisors, today said it exited from three funds and a third-party mandate worth Rs 440 crore.
"Indiareit Fund Advisors has announced exits worth Rs 440
crore from three of its earlier funds and one from a third-party mandate," the company said in a statement.
These have been executed under the leadership of Khushru Jijina, who was re-inducted to oversee Indiareit as managing partner three months ago, it said.
"This is a strong validation of our commitment to work immediately on prioritising investor returns across all of our advised or managed funds and adds to the Rs 905 crore that the fund house has already returned from previous exits in