Acquisition Expands Decision Resources’ Healthcare Market Research Business to Include Comprehensive Coverage of the Medical Device and Technology Markets
Waltham, Massachusetts and Toronto, Canada-Decision Resources, Inc., one of the world’s leading research and advisory firms focusing on pharmaceutical and healthcare industry insight and analysis, announced today that it acquired Millennium Research Group, the global authority on medical technology market intelligence. The acquisition of Toronto, Canada-based Millennium Research Group by Waltham, Mass.-based Decision Resources will result in a significant expansion of Decision Resources’ breadth of healthcare market research to include comprehensive coverage of medical device markets. Bob Bahador and Ash Vahman, the co-founders of Millennium Research Group, will be the co-presidents of the new Decision Resources subsidiary.
“We are excited to begin our next phase of growth with Decision Resources,” said Ash Vahman, co-president of Millennium Research Group. “Our position as the market leader in the medical device information market fits well with Decision Resources’ philosophy of providing high-value healthcare data and analysis that adheres to the highest standards of quality.”
Strong Growth in the Device Market
With steady growth and rapid change in the medical device industry, the need for quality market analysis and data is in high demand.
“Medical devices are the hottest segment of the healthcare industry today,” said Bob Bahador, co-president of Millennium Research Group. “With this segment’s growth comes the demand for information that is accurate and current. As the leading provider of information to this space, we have successfully anticipated demand by offering a range of innovative and insightful products that provide our clients with a competitive advantage. We look forward to continuing this momentum as part of the Decision Resources family.”
Targeted Acquisition Part of Decision Resources’ Overall Strategy
The acquisition is part of an aggressive growth strategy by Decision Resources and adds the leader in medical device market insight to Decision Resources’ market-leading businesses covering drug markets and managed markets. The Company plans to identify growth opportunities between Decision Resources and Millennium Research Group that provide insight to customers who are increasingly focused on the junction between drugs and devices.
“The acquisition of Millennium Research Group is an important piece of our overall strategy to continually grow and strengthen Decision Resources’ portfolio of high-value research and analysis,” said Peter Hoenigsberg, CEO of Decision Resources. “As the leader in drug market coverage, we realized that the intersection between drugs and devices was becoming more pronounced. We looked for a way to tap into this area of research with the same rigorous standards that we use to produce our own drug market research and our managed care research that is produced by our subsidiary HealthLeaders-InterStudy. Millennium Research Group was the perfect organization to add to our family because of its market-leading reputation, fast-growing product lines, and stable of experienced analysts.”
Millennium Research Group will remain headquartered in Toronto, Canada.
About Millennium Research Group
Millennium Research Group is a leading provider of strategic information to the healthcare sector. Focused solely on the medical device, pharmaceutical, and biotechnology industries, the Company provides its clients with the benefits of its specialized industry expertise through published reports and customized consulting services. The Company was ranked among the top 100 fastest growing companies in Canada in both 2004 and 2005 by Profit Magazine. Visit Millennium Research Group on the web at www.mrg.net.
About Decision Resources
Decision Resources, Inc., (www.DecisionResources.com) is a world leader in healthcare market research publications, advisory services, and consulting designed to help clients shape strategy, allocate resources, and master their chosen markets. HealthLeaders-InterStudy is a subsidiary of Decision Resources offering managed care data and analysis. Visit them on the web at www.HealthLeaders-InterStudy.com. Major investors in Decision Resources include Boston Ventures (www.BostonVentures.com) and Castanea Partners (www.CastaneaPartners.com).
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