Symphony Technology Group today announced that it has acquired Source Healthcare Analytics from Wolters Kluwer. Symphony Technology Group will combine Source Healthcare Analytics with its existing portfolio company, ImpactRx, which acquired AlphaDetail and TargetRx during the last year, to form Symphony Health Solutions.
“Our strategic intent when we acquired ImpactRx a year ago was to build a differentiated solutions company in life sciences capable of delivering compelling value through insights informed by data,” said J.T. Treadwell, Managing Director with Symphony Technology Group. “By taking this step, and building upon our earlier acquisitions of TargetRx and AlphaDetail, we have greatly accelerated our ability to deliver comprehensive value across a range of commercial decisions, and deliver patient centric insights at a unique scale. We are very enthusiastic for the next phase.”
Source Healthcare Analytics is a provider of information and analytics to the pharmaceutical, biotech and financial industries. The company’s brands include Source, ProMetis and inThought. The company is based in Phoenix, AZ (no website found).
ImpactRx provides the biopharmaceuticals industry with insights into the impact of promotion on physicians’ attitudes and prescribing behavior. The company is based in Mount Laurel, NJ (www.impactrx.com).
Symphony Technology Group is a private equity firm that invests in software and services companies. In addition to capital, the firm provides expertise to enable its companies to deliver maximum value to their clients to retain and attract the best talent and to achieve best in class business performance. Symphony Technology Group’s current portfolio consists of 15 software and services companies in several large-scale industry sectors, including: consumer packaged goods, retail, manufacturing, financial services, mobile devices and telecommunications, energy and pharmaceuticals. The firm was founded in 2002 and is based in Palo Alto, CA (www.symphonytg.com).
“The healthcare ecosystem is undergoing dramatic change,” said Dr. Romesh Wadhwani, Chairman and CEO of Symphony Technology Group. “We believe it is critical for major participants in the industry to transform their commercial approaches informed by analysis and insight, and they need innovation from their service providers to drive change. With Symphony Health Solutions, we will create a high-value, high-impact organization focused on the healthcare industry that will help customers dramatically improve their performance, productivity and profitability.”
