Merger creates QuintilesIMS

Pharmaceutical services giant Quintiles and healthcare information company IMS Health Holdings have completed their merger.

The new company, which is officially Quintiles IMS Holdings but is calling itself QuintilesIMS, announced Monday that the all-stock deal valued at $23 billion is a done deal. The merger was unveiled in May.

The combined company is maintaining dual headquarters in Durham, where Quintiles was located, and Danbury, Conn., which was the home of IMS.

The new combined company has more than 50,000 employees, including 2,500 in the Triangle.

Ari Bousbib, who was chairman and CEO of IMS, has the same roles at the combined company.

Tom Pike, Quintiles’ CEO since 2012, is president of research and development solutions at QuintilesIMS and now reports directly to Bousbib. Pike also is vice chairman of the combined board of directors.

Former IMS Health shareholders own about 51.4 percent of the shares of the combined company, with Quintiles shareholders owning about 48.6 percent.

Each share of IMS Health was converted into 0.384 of a share of common stock of Quintiles stock.

This story was originally published October 3, 2016 at 6:21 PM with the headline "Merger creates QuintilesIMS."