IMS Health
| Company type | Public (formerly) |
|---|---|
| Industry | Healthcare data analytics |
| Founded | 1954 |
| Founder | Bill Frohlich, David Dubow |
| Defunct | 2016 |
| Fate | Merged with Quintiles to form QuintilesIMS (now IQVIA) |
| Headquarters | Danbury, Connecticut , United States |
Area served | Healthcare industry |
Key people | Ari Bousbib (Chairman and CEO) |
| Products | Healthcare intelligence, physician prescribing data, market forecasts, analytics services |
Number of employees | 14,000+ (2015) |
| Website | www |
IMS Health was a U.S.-based enterprise delivering data, technology, and services tailored to the healthcare industry. The acronym IMS represented Intercontinental Medical Statistics, and the firm was recognized as the foremost supplier of physician prescribing data within the United States. Established in 1954 by Bill Frohlich and David Dubow, with Arthur Sackler maintaining a discreet ownership interest, IMS Health emerged as a significant force in healthcare data analytics.
In 2010, IMS Health transitioned to private ownership through acquisition by TPG Capital, CPP Investment Board, and Leonard Green & Partners. It later returned to the public market on April 4, 2014, listing on the NYSE under the ticker IMS. Based in Danbury, Connecticut, IMS Health reported revenues of $2.64 billion and employed more than 14,000 staff members by 2015.
The year 2016 saw IMS Health merge with Quintiles, creating QuintilesIMS, which subsequently rebranded as IQVIA in 2017.
Business model
IMS Health specialized in comprehensive healthcare intelligence encompassing sales figures, anonymized prescription records, medical claims data, electronic health records, and social media insights. Its offerings assisted organizations in crafting commercialization strategies and portfolio management plans, pinpointing target patient and physician groups for treatments, and evaluating the impact of pharmaceutical marketing and sales initiatives. Additionally, IMS Health generated syndicated market forecasts and intelligence reports derived from its proprietary datasets.
History and acquisitions
Initially called Intercontinental Marketing Statistics (IMS), the company is headquartered in Danbury, Connecticut, with Ari Bousbib serving as chairman and CEO.
- 1998: Cognizant Corporation split into two entities—IMS Health and Nielsen Media Research—with Cognizant Technology Solutions becoming a publicly traded subsidiary under IMS Health.
- 2002: Acquisitions of Cambridge Pharma Consultancy and Rosenblatt Klauber Group broadened strategic advisory and forecasting capabilities for pharmaceutical clients.
- 2003: Added Marketing Initiatives (healthcare facility data) and Data Niche Associates (Medicaid rebate validation); divested its 56% ownership in Cognizant to separate operations.
- 2004: Purchased United Research China Shanghai to strengthen presence in China’s consumer healthcare sector.
- 2005: Acquired PharMetrics, a U.S. company providing integrated patient-level claims data.
- 2006: Integrated Strategic Decisions Group’s Life Sciences practice to enhance portfolio strategy consulting services.
- 2007: Bought IHS and MedInitiatives (healthcare data analytics), along with ValueMedics Research (health economics/outcomes research); earned recognition in Businessweek’s top 50.
- 2008: Featured on Fortune’s World's Most Admired Companies list; acquired RMBC (pharmaceutical market intelligence in Russia) and Skura professional services group (data integration/consulting).
- 2009: Included in Dow Jones Sustainability North America Index.
- 2010: Privatized by TPG Capital, CPP Investment Board, and Leonard Green & Partners; acquired Brogan, Inc., expanding Canadian healthcare market research capabilities.
- 2011: Enhanced specialty and patient-level U.S. datasets by acquiring SDI Health; also acquired Ardentia Ltd (UK) and Med-Vantage (U.S.) to improve payer service offerings.
- 2012: Added PharmARC Analytic Solutions (India), DecisionView (clinical trial enrollment software), TTC (clinical trial benchmarking analytics), and PharmaDeals Ltd. (pharma transaction intelligence) through acquisitions.
- 2013: Expanded software-as-a-service portfolio with purchases of Incential Software (sales performance management), 360 Vantage (multi-channel CRM), Appature (relationship marketing platform), and Semantelli (social media analytics).
- 2015: Acquired Dataline Software Ltd (UK bespoke software development/big data research) and Cegedim’s CRM software plus Strategic Data business for €396 million; also added Boston Biomedical Consultants for in vitro diagnostics market intelligence.
- 2016: Announced a $9 billion merger with Quintiles; IMS Health shareholders received Quintiles stock resulting in combined ownership of 51.4% IMS and 48.6% Quintiles. The merger finalized in October creating QuintilesIMS valued at $17.6 billion.
- 2017: On November 6, the company rebranded as IQVIA.
Controversy
IMS Health's primary operation of gathering anonymized data on pharmaceutical sales has attracted both media attention and legal examination.
The firm played a central role in the prominent free speech lawsuit IMS Health v. Ayotte. Additionally, the important case Sorrell v. IMS Health Inc. focused on the confidentiality of physician information and advanced to the U.S. Supreme Court, which ultimately ruled in favor of IMS Health, upholding its data management practices despite challenges related to pharmaceutical marketing laws.
External links
- Articles with short description
- Health care companies established in 1954
- Health care companies based in Connecticut
- Companies based in Danbury, Connecticut
- Market research companies of the United States
- Defunct research and analysis firms
- Companies formerly listed on the New York Stock Exchange
- 2010 mergers and acquisitions
- 2014 initial public offerings
- 2016 mergers and acquisitions
- Business services companies established in 1954