Inovalon to buy Avalere Health
Avalere has more than 200 pharma/life sciences clients and will operate as a subsidiary of Inovalon. Avalere CEO Dan Mendelson will join Inovalon's executive leadership team.
The purchase price is $135 million in cash and $5 million in restricted stock, and the deal is expected to close on Sept. 1. Avalere reported $47.1 million of revenue in calendar year 2014. "Data is transforming healthcare, and life sciences companies in particular need better information and analytics to drive commercial and strategic decisions," Mendelson said.
"Our combination with Inovalon will enable us to bring unique data-based solutions to the market while expanding on our outstanding core products and services. This is an exciting time within the healthcare industry, our clients and our companies."