IMS Health buys analytics company TTC
IMS Health said it has acquired benchmarking solutions and analytics company TTC that helps life science companies around the world plan for and negotiate costs of clinical trials.
The leading provider of information, services and Analytics Company will integrate its evidence-based, anonymized patient and treatment outcomes insights with TTC’s comprehensive cost drawn from companies that conduct nearly 80% of all the commercial clinical studies.
Philadelphia-based TTC offers its clients a robust set of clinical trial benchmarks, budgeting and negotiating tools to enhance the speed, efficiency and cost-effectiveness of their trial planning and management activities.
The benchmarking solutions firm maintains the world’s largest clinical grant benchmarking and negotiation database namely GrantPlan. It also serves 17 of the top 20 pharmaceutical companies and eight of the ten largest contract research companies.
Andrew Kress, Senior Vice President, Healthcare Value Solutions, IMS, said, “This acquisition marks an important step in further expanding IMS’s capabilities in the pharma R&D space.” Mr. Kress also said, “This combination of TTC’s portfolio and IMS information assets will fuel ongoing innovation, enabling clients to base vital budgeting and negotiation decision on real-world data and benchmarks.”
TTC’s benchmark data and budgeting services will be available through IMS’s clinical trial optimization unit, part of the company’s Healthcare Value Solutions business, the news reports said.
Harold Glass, PhD, TTC President said, “We’re extremely pleased to join the IMS team.” Mr. Glass also said, “Our clients are actively seeking more data and analytics to guide their decision making and drive improvements in a process that today is highly inefficient.” “This combination makes IMS a leading partner for healthcare organizations in the planning and execution of clinical trials built on an evidence-based foundation,” he added.
IMS Health is a global company providing information, services, and technology for the healthcare industry.