Healthcare education and events company HMP Global entered into a definitive agreement to acquire the Drug Channels Institute (DCI) Thursday morning.
DCI was founded in 2012 by Adam J. Fein, PhD to provide marketing intelligence and analysis of the pharmaceutical industry.
In a press release, HMP Global said purchasing DCI aligns with its strategic effort to diversify its portfolio and bolster its healthcare market analysis and intelligence offerings.
Financial terms of the deal were not disclosed, but DCI’s leadership team will remain in place as it joins HMP Global. DCI founder Dr. Fein will become president of DCI while Paula Fein will become VP of business development.
“Paula and I are excited to join forces with HMP Global, a company that shares our commitment to excellence,” Dr. Fein said in a statement. “We look forward to capitalizing on HMP’s investments in DCI so we can deliver new value for our customers and create new opportunities for collaboration. DCI also plans to leverage HMP’s broad reach across the healthcare ecosystem and its expertise with in-person events.”
The acquisition of DCI comes 15 months after HMP Global bought Proximity Health, a California-based value-based care and oncology market access research company that was aptly renamed HMP Global Market Access Insights as it folded into the company’s omnimedia division.
Additionally, HMP Global plans to establish a new division within the company based on the capabilities of HMP Market Access and DCI.
“Under Adam’s leadership, DCI has built an exceptional reputation as the leading provider of information and analysis in the pharmaceutical and broader healthcare sectors,” HMP Global CEO Jeff Hennessy said in a statement. “Executives and analysts rely on Drug Channels news and industry reports to inform business strategy and decision-making. We look forward to welcoming Adam and the team to HMP Global and to making significant investments in DCI and this space to drive innovation that results in comprehensive solutions to address the evolving needs of our customers.”
Beyond DCI, HMP Global has expanded its footprint in recent months, having bought Neuroscience Education Institute (NEI), a privately held medical education company, over the summer. NEI, which is focused on providing psychopharmacology-based central nervous system education, was added as an independent entity as part of the HMP Global.
