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ImpactRx Adds On

ImpactRx Inc., a Mr. Laurel, N.J.-based developer of a subscription database for pharmaceutical companies, has acquired Paragon Research & Consulting Inc., a West Chester, Pa.-based provider of pharmaceutical market research and consulting services. No financial terms were disclosed. ImpactRx has raised around $36 million in VC funding from Mediphase Venture Partners, 3i Group, Oxford Bioscience Partners and Merck Capital Ventures.

 

PRESS RELEASE

ImpactRx, Inc., the pioneering force in measuring the impact of pharmaceutical promotion on physicians' prescribing behavior, announced today that it has acquired Paragon Research & Consulting, Inc. of West Chester, PA. Paragon will now apply its innovative analytical and custom research capabilities to ImpactRx's proprietary data to provide the most timely, accurate and sensitive evaluation of the pharmaceutical market and of individual company and brand performance.

“ImpactRx's data combined with Paragon's analytics and research expertise will provide our clients with unparalleled visibility into the pharmaceutical marketplace,” stated Richard Altus, CEO and President of ImpactRx. “The synergies we will create across our organizations will allow us to further leverage ImpactRx's unique data assets to deliver an unprecedented level of market insight.”

“ImpactRx's unique research and business model has been validated as we embark on our eighth year of operation,” Altus continued. “After several solid years of revenue growth coupled with increasing profitability, we are now generating sufficient cash flow to acquire complementary companies that extend our value proposition to pharmaceutical sales and marketing management. The Paragon acquisition and the recent expansion of our physician information networks are two important examples of our commitment to extending our capabilities to respond to the emerging information and analytical needs of our customers.”

Paragon, founded in 1991 by Dr. Robert Zelnio, is a full service pharmaceutical market research and consulting firm committed to helping clients gain competitive advantage by providing customized solutions to complex business problems. “For our part,” Zelnio noted, “we think our association with ImpactRx will begin a whole new era of innovation. We are excited to join forces with ImpactRx. Their data offers a view into market activity that we can use to benefit our clients. It goes well beyond that provided by traditional dispensed prescriptions. We are brimming over with ideas for new methods and studies we can develop to support our clients' marketing research needs and are equally enthusiastic about applying the research and analytical skills of Paragon's team to ImpactRx's impressive database. Through our combined expertise we will be able to provide all clients with a more complete and more actionable understanding of their marketing and sales challenges.”

About ImpactRx

Founded in October 2000, ImpactRx' physician networks are the source of an unprecedented intelligence capability for tracking the promotional initiatives of the pharmaceutical industry and for measuring their impact on physician prescribing behavior. Based in Mount Laurel, New Jersey, ImpactRx is a private company with investment financing provided by Mediphase Venture Partners (http://www.mediphaseventure.com/), Oxford Bioscience Partners (http://www.oxbio.com/), Merck Capital Ventures (http://www.merckcapitalventures.com/) and 3i Group (http://www.3i.com/).