Piramal arm buys market analytics firm Abacus in UK
04 December 2012
Piramal group subsidiary Decision Resources Group (DRG) has acquired UK-based market access service provider Abacus International for an undisclosed sum.
The acquisition of 17-year-old Abacus through DRG gives the diversified Indian group access to the European markets.
The deal comes about six months after Piramal Enterprises acquired Massachusetts-based DRG for Rs3,400 crore.
Abacus, however, is a relatively smaller transaction financed through internal resources and local debt, the company said in a release.
''Abacus brings to the table a unique combination of technical excellence and robust, evidence-based analysis resulting in solutions that are well-designed to address the needs of our healthcare clients,'' said Jim Lang, president of DRG's market access business unit.
''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 diagnostic industry as well as to significantly expand our commercial support capabilities, with industry-leading mobile communication tools,'' he added.