Company news: inVentiv Health

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InVentiv Health said it is acquiring pharma consulting firm Campbell Alliance and i3, a global contract research organization. The CRO businesses of i3 will be purchased for about $400 million, with the acquisition expected to close in the first half of 2011, inVentiv said. Terms of the purchase of Campbell Alliance were not disclosed. Pursuant to the new additions, the firm said it is realigning under three business segments—clinical, which will operate under the i3 brand; consulting, which will operate under the Campbell Alliance brand; and commercial, which will operate under the name  inVentiv Health and consists of the remaining components of the legacy inVentiv Health organization (Communications, Selling Solutions, Selling Accelerators and Patient Outcomes). inVentiv also announced that Paul Meister, executive chairman of inVentiv Health, will assume the CEO position, effective immediately. Meister is founder and CEO of Liberty Lane Partners, a private equity company that is part of the investment group that acquired inVentiv in August 2010. All three segments will report to Meister and the company's board.
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