Inovalon scoops up consultancy Avalere Health
Inovalon announced it will buy healthcare consulting firm Avalere Health in a $140 million deal. The acquisition is part of a larger strategy by the technology firm to foster a greater presence among pharma and life-sciences companies.
Inovalon said the deal will bolster the company's data capabilities, allowing it to expand its work in pharma—noting that Avalere already works with 13 large drugmakers.
Avalere will be run as a subsidiary of Inovalon. Dan Mendelson, Avalere's CEO, will join Inovalon's executive leadership but will continue to oversee the company's operations.
Avalere wrote on its company website that it had been discussing the deal with Inovalon for some time, adding, “this new partnership accelerates our ability to help you with data, by locking in unique and proprietary commercial data and proven business improvement methods.”
Keith Dunleavy, CEO of Inovalon, said in a release that Avalere's technology portfolio will allow the company to “drive meaningful and measurable impact through data-driven insights.”
In February, Inovalon raised $600 million in its initial public offering.