Piramal To Divest Healthcare Analytics Unit for $950 MillionBy
Piramal has agreed to sell its healthcare data and analytics unit, Decision Resources Group (DRG), to Clarivate Analytics for $950 million (includes $900 million on closing and $50 million to be received at the end of 12 months from the date of closing).
The sale is through PEL DRG Dutch HoldCo BV, a 100% subsidiary of Piramal Enterprise Limited (PEL) and the holding company for DRG, which provides healthcare insights and analytics to pharmaceutical and biotechnology companies. PEL had initially invested $650 million in 2012 to acquire DRG out of which $260 million was infused as equity.
The transaction is subject to shareholder approval and is expected to be completed by the end of February 2020.