addition of AlphaDetail’s global custom market research expertise enhances and expands company’s solutions offerings
Horsham, PA – March 23, 2012 – ImpactRx, a Symphony Technology Group (STG) company, and the pioneer in measuring the impact of promotion on physicians’ attitudes and prescribing behavior, announced today that it has acquired AlphaDetail, Inc., a leader in global healthcare primary market research and influence network mapping. AlphaDetail was recently named one of the top fifty US market research firms in the annual Honomichl survey. Financial terms of the transaction were not disclosed.
AlphaDetail will be closely integrated across ImpactRx’s operations, but will maintain its name and branding and will operate as the custom market research unit of the company. AlphaDetail’s existing management team will continue to lead the unit and Rishi Varma, AlphaDetail’s current CEO, will also become Executive Vice President, Custom Market Research, ImpactRx and will report to ImpactRx President and CEO, Gregory Ellis.
“We are very excited to add AlphaDetail’s custom research expertise and consultative approach to ImpactRx’s broad portfolio of promotional effectiveness and consulting analytics solutions,” declared Ellis. “AlphaDetail’s deep understanding of client needs and exceptional analytical talent will enable ImpactRx to provide incremental value to our clients,” Ellis stated. “For example, clients’ product forecasting needs will be better served by integrating AlphaDetail’s trusted ability to develop and conduct actionable research with ImpactRx’s data assets and capabilities,” concluded Ellis.
“We are thrilled to join ImpactRx at this stage in the company’s development,” said Rishi Varma, AlphaDetail’s CEO. “Since AlphaDetail’s inception eleven years ago, we have focused on building our business through an unparalleled commitment to our clients and to execution excellence,” Varma continued. “We’re eager to begin integrating this focus and our skill set with ImpactRx’s unique research model and world-class data and analytical assets to deliver even more value to our combined customer base,” concluded Varma.
“Our strategic intent when we acquired ImpactRx almost one year ago was to build a differentiated solutions company in life sciences capable of delivering compelling value through insights informed by data,” said J.T. Treadwell, Managing Director with STG. “AlphaDetail is a great organization with a reputation for quality work and highly satisfied customers, as is ImpactRx. The addition of AlphaDetail’s strong global custom research expertise, analytical skill and therapeutic knowledge to ImpactRx’s innovative and extensive promotional effectiveness capabilities will enable us to significantly broaden our footprint as a best-in-class solutions provider,” Treadwell stated.