ImpactRx gobbles up TargetRx
ImpactRx, which measures the impact of promotion on prescriber behavior, said it acquired 100% of TargetRx, a pharma sales and marketing effectiveness firm.
Terms were not disclosed, but a source familiar with the transaction estimated its size at $5-10 million.
Known as ImpactRx, the combined company will be led by new ImpactRx president and CEO Gregory Ellis, who recently replaced Richard Altus in that role. (See p. 55 for a profile.)
Since 1999, TargetRx has been providing pharma and biotech companies with insight into the drivers of both product choice and brand adoption. But it had struggled in the last year from customer and employee turnover.
ImpactRx is part of private equity firm Symphony Technology Group, which in April acquired a majority interest for an undisclosed sum. Merck Capital Ventures, the venture capital arm of Merck, also maintains a stake.