IMS Health (NYSE:IMS), a leading global provider of information and technology services to the healthcare and life sciences industries, completed its acquisition of Dimensions Healthcare, a United Arab Emirates (UAE) company which provides high quality healthcare systems to payers, providers and regulatory bodies. Financial terms have not been disclosed.
This transaction establishes IMS Health as a market leader for the entire UAE healthcare and life sciences market, serving not only pharmaceutical companies but also payers, providers and government stakeholders, says the company.
Dubai-based Dimensions Healthcare was established in 2008 and achieved rapid growth by taking a holistic approach to the delivery of health technology, developing proprietary systems for medication dispensing, healthcare information management and clinical decision support. Dimensions Healthcare is central to the delivery of effective healthcare within the UAE, as the architect of Dubai’s comprehensive electronic health insurance platform, which manages patient claims for more than 65 payers.
“This is a significant moment in our growth as a global leader in the healthcare technology industry; today we have gained a comprehensive understanding of the Middle East market from all angles and can now accelerate our expansion plans, offering world class systems and services to new customers across the region,” said Alistair Grenfell, IMS Health president for North Europe, Middle East, South Asia and Africa.
Earlier this year, Dimensions Healthcare introduced the next evolution of its products by offering local cloud-based functionality, with a promise to customers that global cloud connectivity was on its way in 2017.
“Today’s transaction will enable Dimensions Healthcare’s vision to be realised, giving UAE payers, providers and regulators immediate access to the global knowledgebase that only IMS Health can offer,” said Dr. Omar Ghosheh, Founder and CEO of Dimensions Healthcare.
Dr. Ghosheh will continue to lead the Dimensions Healthcare business as part of IMS Health, the company said.
IMS Health Holdings, Inc. is a leading global information and technology services company providing clients in the healthcare industry with end-to-end solutions to measure and improve their performance. IMS is the largest vendor of U.S. physician prescribing data. Its 7,500 services experts connect configurable SaaS applications to 10+ petabytes of complex healthcare data in the IMS One cloud platform, delivering unique insights into diseases, treatments, costs and outcomes. The company’s 15,000 employees blend global consistency and local market knowledge across 100 countries to help clients run their operations more efficiently. Customers include pharmaceutical, consumer health and medical device manufacturers and distributors, providers, payers, government agencies, policymakers, researchers and the financial community.
As a global leader in protecting individual patient privacy, IMS Health uses anonymous healthcare data to deliver critical, real-world disease and treatment insights. These insights help biotech and pharmaceutical companies, medical researchers, government agencies, payers and other healthcare stakeholders to identify unmet treatment needs and understand the effectiveness and value of pharmaceutical products in improving overall health outcomes. IMS Health was founded in 1954 Bill Frohlich and David Dubow, and is based in Danbury, Connecticut. The company has a market capitalization of $7.77 billion.
The original name of the company was Intercontinental Marketing Services, hence the IMS name. IMS Health is known for its collection of healthcare information spanning sales, de-identified prescription data, medical claims, electronic medical records and social media. IMS Health’s products and services are also used by companies to develop commercialization plans and portfolio strategies, to select patient and physician populations for specific therapies, and to measure the effectiveness of pharmaceutical marketing and sales resources. The firm uses its own data to produce syndicated reports such as market forecasts and market intelligence.
In 2010, IMS Health was acquired by private equity firms TPG Capital, Canada Pension Plan Investment Board (CPPIB) and Leonard Green & Partners for $5.2 billion, including $2 billion in debt. In 2014 the private equity investors took IMS public again in a $1.3 billion IPO, nearly tripling the value of their original investment, as a result of multi-billion dividends received.