MOUNT LAUREL, N.J., Sept. 13, 2011 - ImpactRx, a Symphony Technology Group (STG) company and the pioneer in measuring the impact of promotion on physician prescribing behavior, announced today that it has acquired 100% of TargetRx, Inc., a leading provider of insight into the drivers of physician behavior for pharmaceutical companies, in order to combine the highly complementary capabilities of the two companies into a stronger solution offering for customers. The new company will be known as ImpactRx and new ImpactRx President and CEO, Gregory Ellis, will lead the combined company. Financial terms of the transaction were not disclosed.
"We are very excited to join forces with TargetRx," declared Ellis. "In the years we spent in the marketplace together, and from the feedback we received from customers, it's clear that the capabilities of these two companies are very complementary," Ellis stated. "ImpactRx specializes in helping clients understand the actual behavior of physicians in response to promotion, while TargetRx helps clients understand the underlying drivers of that behavior as they relate to physicians' attitudes, perceptions and beliefs," said Ellis. "Together, we will provide our clients with an unprecedented level of insight into what physicians do and why they do it," Ellis concluded.
Since its founding in 1999, TargetRx has served a majority of the top thirty pharmaceutical and biotech companies providing them insight into the drivers of product choice and the adoption of their brands. Powered by its unique AdvantageBuilder™ normative database and validated predictive models, TargetRx has developed proprietary analytical methodologies to provide clients critical insight into launch forecasting and positioning, physician segmentation and targeting for personal and non-personal promotion, professional marketing and message optimization, and sales and marketing execution and effectiveness.
"When we acquired ImpactRx earlier this year, our strategic intent was to build a differentiated solutions company in life sciences capable of delivering compelling value to clients through insights informed by data," said J.T. Treadwell, Managing Director with STG. "STG has a strong history of partnering with our companies to deliver innovation and growth, and we believe the addition of the TargetRx capabilities allows us to combine unique assets and complementary approaches, analytical talent, and a strong history of joint innovation as the foundation of a world-class solutions provider," Treadwell stated.
ImpactRx is the leading provider of consultative and analytically-based promotional effectiveness solutions to the healthcare industry. Powered by the ImpactData™ generated by its longitudinal panels of more than 4,000 targeted, iPhone-connected physicians (who through its proprietary technology are the exclusive source of continuously-captured promotion and treatment data) and combined with its industry-leading analytics and custom research capabilities, ImpactRx provides clients with unprecedented insight into the drivers of physician brand choice within a complete competitive context. These insights enable clients to improve brand performance by making more effective decisions around marketing strategy, field and channel execution and pre-launch and launch planning. ImpactRx is a Symphony Technology Group company. For more information, visit: www.impactrx.com.
About Symphony Technology Group
Symphony Technology Group (STG) is a strategic private equity firm with the mission of investing in and building great software and services companies. In addition to capital, STG provides transformation expertise to enable its portfolio companies to deliver maximum value to clients, to retain and attract the best talent, to drive growth through innovation, and to achieve best-in-class business performance. STG's current portfolio consists of fourteen global companies with combined revenue of $2.5 billion and 15,000 employees spread across North America, Europe and Asia. For more information, visit: www.symphonytg.com.
Senior Vice President, Strategic Development