IMS HEALTH Creates Global Leader
In Sales Force Automation for the Pharmaceutical Industry
WESTPORT, Conn., June 24 /PRNewswire/ -- Cognizant Corporation (NYSE: CZT)
announced completion of the Walsh International Inc. (Nasdaq: WSHI)
acquisition, following today's approval by Walsh shareholders. IMS HEALTH
(NYSE: RX), which will be spun-off from Cognizant on July 1, 1998, will merge
Walsh International with its Sales Technologies business.
Walsh shareholders will receive .3041 shares of Cognizant common stock per
Walsh share, and will participate in the stock dividend to Cognizant
shareholders related to the spin-off of IMS HEALTH. Walsh has approximately
10.6 million shares outstanding.
"Multinational pharmaceutical customers gain two competitive advantages
from this merger," said Victoria R. Fash, IMS HEALTH president and chief
operating officer. "First, unparalleled global reach to support their rapid
geographic expansion. Second, the unmatched combination of IMS HEALTH
information and knowledge with advanced technology. New products instantly
deploy IMS HEALTH insights directly to sales executives' laptops, thus
accelerating sales by enhancing productivity."
Over 35,000 pharmaceutical sales executives worldwide depend on Walsh/
Sales Technologies to make business decisions each day. As the only provider
dedicated to the healthcare industry, solutions are tailored to meet the
unique requirements of this vital market. Services include sales force
automation systems, strategic sales and marketing information solutions, and
the provision of client-critical databases.
"Our leading-edge products and services improve sales force performance
with real-time profiling, targeting, activity reporting, team selling and
sample management, all of which are critical to sales and marketing decision-
making," said Ronald Brown, chief executive officer of Sales Technologies/
Walsh.
IMS HEALTH is the world's leading provider of information solutions to the
pharmaceutical and healthcare industries. With more than $1 billion in 1997
revenue, IMS HEALTH operates in over 90 countries. IMS HEALTH is the largest
pharmaceutical manufacturer information partner, with over 40 years'
experience in the industry. Key products and services integral to customer
day-to-day operations include: market research for prescription and over-the-
counter pharmaceutical products; sales management information to optimize
sales force productivity; technology enabled selling solutions for sales and
marketing decision-making; and technology systems and information services
that support managed care organizations.
Additional information is available at http://www.cognizantcorp.com or
http://www.imshealth.com.
SOURCE Cognizant Corporation
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CONTACT:
Joseph C. Allen of Cognizant, 203-222-4235
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