PHILADELPHIA, PA — HealthVerity has agreed to acquire Symphony Health Solutions from ICON plc (Nasdaq: ICLR), combining clinical and commercial healthcare datasets as demand grows for integrated real-world patient data across the life sciences industry.
The transaction is expected to close in May, subject to customary closing conditions.
HealthVerity expects the acquisition to consolidate fragmented healthcare datasets that are typically spread across separate clinical, commercial, payer, and analytics platforms.
The combined business will merge HealthVerity’s patient identity and clinical data capabilities with Symphony Health’s commercial healthcare data assets, including prescription, claims, and provider information used by pharmaceutical companies, payers, and healthcare analytics firms.
Healthcare organizations have historically relied on multiple vendors and disconnected datasets that often require separate integration, reconciliation, and licensing agreements.
“This transaction will create the nation’s leading patient-centric real-world and commercial data ecosystem within a privacy-safe, modern infrastructure,” Andrew Kress said.
Kress described the deal as a way to accelerate development of real-world healthcare analytics and data-driven decision tools across the healthcare sector.
“For more than 30 years, Symphony Health has been a trusted source of commercial healthcare data,” Simon Holmes said. “Symphony will bring this scale and expertise to the combination with HealthVerity.”
The companies did not disclose financial terms.
Evercore is serving as financial advisor to HealthVerity, while Blank Rome is acting as legal advisor.
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