Private-equity firm Symphony Technology Group, Palo Alto, Calif., has acquired a majority interest in ImpactRx, a provider of systems to track the effects of pharmaceutical promotion on doctors' prescribing behaviors, according to an ImpactRx news release. Financial terms of the deal were not disclosed.
Private-equity firm buys majority interest in ImpactRx
ImpactRx will operate as an independent Symphony Technology portfolio company, according to the release, and Merck Capital Ventures, the venture-capital arm of Merck & Co., will maintain its investment in the Mount Laurel, N.J.-based company. Also, ImpactRx President and CEO Richard Altus will continue to lead the company. In March, ImpactRx named former Merck executive Mark Degatano senior vice president of the company's client services operations.
ImpactRx expects Symphony Technology's investment to help the company "improve as a leader in evaluating and interpreting the drivers of physician behavior," Altus said in the release.
Send us a letter
Have an opinion about this story? Click here to submit a Letter to the Editor, and we may publish it in print.