Monday, August 3, 2015

IMS Health keeps buying Phila firms, employs 1,000 here

Adds TTC to last fall's SDI deal

IMS Health keeps buying Phila firms, employs 1,000 here


IMS Health Inc., a Parsippany, NJ - based drug-marketing and data company, says it has bought Philadelphia-based TTC, a drug clinical-testing cost consultant that says its "clinical trial cost benchmarking and analysis databases are the largest in the world." This is IMS's second local acquisition in a year and boosts the company's Philadelphia-area staff to 1,000, according to IMS officials.

TTC founder Harold Glass PhD and his staff of 30 "will join the IMS team," Glass said in a statement. Fairmount Partners, Philadelphia, and partner Cornelius "Neal" MacCarthy advised IMS in the sale. So did longtime TTC adviser SSG, the West Conshohocken-based special-situations adviser headed by Mark Chesen.

IMS, taken private by a group of venture capital firms led by Texas-based TPG (also an investor in Wayne-based SunGard ) for $6 billion in 2010, also purchased SDI, a healthcare-data firm in Plymouth Meeting, in November. IMS's U.S. business is now based in Plymouth Meeting.

Banker Chesen notes this is the second time Glass, a research professor of health policy and former head of graduate pharmacy studies at University of the Sciences in Philadelphia (and at Kings College, London), has sold a company to IMS, a former division of the Dun & Bradstreet business-information firm. IMS bought Glass's DataEdge in 2000.

At the time, Glass says he "returned fulltime to academics," but found DataEdge's drug-company customers weren't happy after IMS sold the business to new operators. "So I restarted the company," with IMS's financial backing.

TTC stands for Tarheel Trading Company; Glass holds a Ph.D. from the University of North Carolina. He also has degrees from universities in London and California.

"Dr. Glass is a really talented individual; it's rare to see anyone so extremely successful in both academic and business professions," Chesen told me. "He's a real Renaissance man. He plays the cello. And he loves the Eagles. A super-bright guy you can talk to about any topic."

How does Glass balance that work? 
“Business and academics often doesn’t come together in one place," he told me. "They are very different ways of looking at the world."

Will there be another Glass firm to sell? IMS "has asked me to stay on for another year as an adviser. But, at the same time, I have two other businesses in mind. And IMS is okay with that." 

We encourage respectful comments but reserve the right to delete anything that doesn't contribute to an engaging dialogue.
Help us moderate this thread by flagging comments that violate our guidelines.

Comment policy: comments are intended to be civil, friendly conversations. Please treat other participants with respect and in a way that you would want to be treated. You are responsible for what you say. And please, stay on topic. If you see an objectionable post, please report it to us using the "Report Abuse" option.

Please note that comments are monitored by staff. We reserve the right at all times to remove any information or materials that are unlawful, threatening, abusive, libelous, defamatory, obscene, vulgar, pornographic, profane, indecent or otherwise objectionable. Personal attacks, especially on other participants, are not permitted. We reserve the right to permanently block any user who violates these terms and conditions.

Additionally comments that are long, have multiple paragraph breaks, include code, or include hyperlinks may not be posted.

Read 0 comments
comments powered by Disqus
About this blog

PhillyDeals posts drafts, transcripts and updates of Joseph N. DiStefano's columns and stories about Philly-area business, which he's been writing since 1989.

DiStefano studied economics, history and a little engineering at Penn and taught writing at St. Joseph's. He has written thousands of columns and articles for the Inquirer, Bloomberg and other media, wrote the book Comcasted, and raised six children with his wife, who is a saint.

Reach Joseph N. at,, 215.854.5194 or 302.652.2004.

Reach Joseph N. at or 215 854 5194.

Joseph N. DiStefano
Also on
letter icon Newsletter