Global Pharmaceutical and Healthcare Information Leader
Expands International Services and Market Coverage
WESTPORT, Conn., Aug. 5 /PRNewswire/ -- IMS HEALTH (NYSE: RX) and
Pharmaceutical Marketing Services Inc. (PMSI) (Nasdaq: PMRX) today jointly
announced the completion of the acquisition by IMS HEALTH of all of the non-
U.S. operating assets of PMSI. IMS HEALTH is the world's leading provider of
information solutions to the pharmaceutical and healthcare industries.
Under terms of the acquisition, PMSI will receive consideration of
$75 million in the form of approximately 1.2 million shares of IMS HEALTH
common stock. The transaction will be accounted for under purchase
accounting, and is expected to be tax-free to PMSI.
PMSI was established in 1991 and since then has developed a range of
information services for pharmaceutical and healthcare companies in the U.S.,
Europe and Japan. PMSI will remain an independent public company and its
Scott-Levin subsidiary will continue to provide market research and managed
care services to the pharmaceutical, healthcare and financial services
markets.
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.imshealth.com.
This press release includes statements which may constitute forward-
looking statements made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. Although IMS HEALTH believes the
expectations contained in such forward-looking statements are reasonable, it
can give no assurance that such expectations will prove correct. This
information may involve risks and uncertainties that could cause actual
results of IMS HEALTH to differ materially from the forward-looking
statements. Factors which could cause or contribute to such differences
include, but are not limited to (i) the risks associated with operating on a
global basis, including fluctuations in the value of foreign currencies
relative to the U.S. dollar, and the ability to successfully hedge such risks,
(ii) the extent in which IMS HEALTH seeks growth through acquisitions, and the
ability to identify and consummate acquisitions on satisfactory terms, (iii)
the ability to develop new or advanced technologies and systems for their
businesses on a cost-effective basis, (iv) regulatory and legislative
initiatives, particularly in the area of medical privacy, and (v)
deterioration in economic conditions, particularly in the pharmaceutical,
healthcare, information technology or other industries in which IMS HEALTH's
customers operate.
SOURCE IMS HEALTH
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Related links:
http://www.imshealth.com
Company News On-Call: http://www.prnewswire.com or
fax, 800-758-5804, ext. 115785
CONTACT:
Michael Gury of IMS HEALTH, 203-222-4230; or
Warren Hauser of PMSI, 212-841-0610
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