Quintiles expands EHR expertise with acquisition of Encore
05/12/2014 11:30 AM
02/15/2015 11:19 AM
Pharmaceutical services giant Quintiles plans to expand its expertise in the growing field of electronic health records by acquiring a healthcare technology consulting firm with more than 300 employees.
Durham-based Quintiles announced Monday that it has agreed to acquire privately held Encore Health Resources of Houston. Financial details weren’t disclosed.
Founded in 2009, Encore’s primary business is advising healthcare providers about electronic health records and helping them implement the technology.
“Today’s announcement signifies the increasing importance of leveraging EHR and real-world information to inform our customers and improve their probability of success,” Quintiles CEO Tom Pike said in a statement.
Quintiles, the world’s largest pharmaceutical services company, helps pharmaceutical and biotechnology companies test experimental drugs and analyze the results. The company said its customers are increasingly interested in the “real-world” effects that their drugs have on patients once they are approved by regulators — and Encore’s expertise will enable Quintiles to expand its capabilities in that area.
Quintiles also said that Encore will be able to leverage Quintiles’ capabilities to better serve its customers.
The deal is expected to close before the end of June and, according to Quintiles, is not expected to have a material impact on its earnings per share in 2014. Encore will become part of Quintiles’ integrated healthcare services unit and will be known as “Encore, A Quintiles Company.”
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