The acquisition, which was done through its wholly-owned subsidiary Decision Resources Group, was made at $0.036 apiece for the shares of common stock and at $0.293 apiece for the shares of multiple classes of preferred stock, Piramal Enterprises said in a stock market disclosure.
In 2010, Context Matters initiated with an aim to provide insights to firms in the life sciences industry globally. "Context Matters was created from the idea that data from market access and reimbursement can be used to inform clinical trial design," saidYin Ho, the Founder and CEO of Context Matters.
After this transaction completes, Data resources Group will get access to core data asset for its global market access data and analytics business, Piramal Enterprises said.
Decision Resources Group offers data, analytics and services to the life sciences, payer and financial services industries across North America, Europe, and Asia.
"There is an ever-rising demand to optimize global access to treatments for patients in therapy areas that continue to have unmet need. In our increasingly complex and cost-benefit driven markets, it is imperative for healthcare companies to build robust, evidence-based approaches to plan and prepare their assets for successful global market access," says Peter Hempshall, Senior Vice President of DRG.
He added, "With the acquisition of Context Matters, DRG is pleased to welcome an experienced team of pioneering global market access experts. They have been at the forefront of compiling and connecting disparate forms of data to provide life sciences companies with the depth of data and direction needed to plan and implement successful access, reimbursement, and asset valuation strategies for varied global markets."