Ingenix, an Eden Prairie, Minn.-based information technology and consulting subsidiary of UnitedHealth Group, announced that it has formed a new life sciences division and will sell its clinical trial-support operations to Somerset, N.J.-based inVentiv Health. Terms were not disclosed.
According to an inVentiv news release, the deal involves i3 clinical development businesses that generate about $400 million in gross revenue annually. The deal is expected to close in the first half of the year.
The new Ingenix Life Sciences will concentrate on evaluating data and informatics services, health economics outcomes, late-phase research, market access and reimbursement, epidemiology and drug safety, patient-reported outcomes and regulatory consulting, according to an Ingenix news release.
The division will be led by Lee Valenta, Ingenix's COO for the past five years; Valenta will have the title of president. Ingenix business units Innovus, Quality Metric, Pharma Informatics, CanReg and ChinaGate will be part of Ingenix Life Sciences.
Last year, Ingenix bought several health IT companies , including medical-coding software maker A-Life Medical and health information exchange service provider Axolotl Corp.