The companies on Monday said they have completed their merger, an all-stock merger-of-equals transaction announced in May. The agreement united IMS Health Holdings, Inc. and Quintiles Transnational Holdings Inc. to create Quintiles IMS Holdings Inc., known as QuintilesIMS.
Under the merger terms, each share of IMS Health was automatically converted into 0.3840 of a share of Quintiles stock. Trading of IMS Health shares on the New York Stock Exchange ended Monday.
According to IMS and Quintiles, the deal creates a leading information and technology-enabled health care service provider with global scale and reach, along with a full suite of end-to-end clinical and commercial offerings.
Plans call for QuintilesIMS to keep dual headquarters in Danbury, Conn., where IMS is now based, and in Research Triangle Park, N.C., the base of Quintiles.
Ari Bousbib, chairman and chief executive officer of IMS Health, becomes chairman and CEO of QuintilesIMS, and Quintiles CEO Tom Pike becomes vice chairman. The merged company’s board comprises six directors appointed by the Quintiles board and six directors appointed by the IMS board.