inVentiv Health, a leading provider of outsourced clinical development, launch and commercial services to the global health care industry, today announced it has signed a definitive agreement to purchase the i3 clinical development businesses from Ingenix. The proposed transaction, covering businesses that generate approximately $400 million in annual gross revenue, is subject to customary closing conditions and is expected to close in the first half of this year.
Upon close of the proposed transaction, inVentiv will acquire the following businesses from Ingenix: i3 Research, i3 Statprobe and i3 Pharma Resourcing. These businesses will retain the i3 brand name and will be aligned with inVentiv's other clinical development offerings, advancing i3's position as a top-tier, global CRO serving pharmaceutical, biotech and medical device companies. Glenn Bilawsky will remain CEO of i3.
Ingenix will align all of its commercialization, safety, regulatory and late phase service offerings under its newly-launched Ingenix Life Sciences division, led by Lee Valenta, who has been COO of Ingenix for the past five years. Ingenix will provide additional details about Ingenix Life Sciences in a separate announcement today.