Verispan has been bought by rival healthcare analytics firm SDI for an undisclosed price.
A privately owned firm based in Plymouth Meeting, PA, SDI offers similar patient-level data analytics services, but where Verispan’s syndicated offerings have formed the crux of its business, SDI has focused on custom programs.
SDI’s John Ross, VP client services, said the company anticipates minimal redundancies initially. “The services of both firms are pretty complementary,” said Ross. “The only overlap is in the patient level data space, and within that, only on the custom offerings. That’s one of the aspects of the deal that made it very attractive for both parties.”
The combined organization will be known as SDI, though select offerings may retain the Verispan brand, Ross said. It will boast a staff of 700, with Verispan’s 500 employees remaining in their Yardley, PA, offices, and will be led by CEO Andrew Kress, who was president of SDI. Verispan CEO Wayne Yetter is leaving the company after a transition period. A new management structure will be announced sometime after Verispan’s client partnership meeting, taking place August 6-8.
Verispan was formed as a healthcare informatics joint venture of Quintiles Transnational Corp. and McKesson Corp, which sold it to SDI.
“There’s a real benefit to scale in some of these settings, and this is an example of that,” said Ross. “The combined assets of our organizations gives us more power to address clients’ questions.”