Pharmaceutical provider purchases data analytics company

MMIT/Evaluate, a global pharma commercial intelligence provider, recently purchased Panalgo, a healthcare data analytics company that serves many of the largest biopharmaceutical, medical device and contract research organizations around the globe for an undisclosed amount.

The purchase will allow MMIT/Evaluate to change the process of bringing drugs to market. The company will offer customers Panalgo’s flagship Instant Health Data software, an end-to-end commercialization platform that provides critical, data-driven insights instantly and allows life sciences leaders to make better decisions faster.

“MMIT/Evaluate and Panalgo share a vision of generating evidence and insights faster, all to help patients get timely access to lifesaving therapies,” Mike Gallup, MMIT CEO, said. The addition of Panalgo fits perfectly into our strategy of building a best-in-breed technology and services-driven healthcare business servicing pharma, biotech and beyond.”

Panalgo will continue operating under its brand. Chief Technology Officer Jordan Menzin will become Panalgo CEO, and Panalgo CEO Joseph Menzin will transition to executive chairman. Both roles are effect on Nov. 1.

Managed Markets Insight & Technology (MMIT) and Evaluate (a Welsh, Carson, Anderson & Stowe and Hg portfolio company) merged in August to create the $1.6 billion MMIT/Evaluate.

Welsh, Carson, Anderson & Stowe is a private equity firm. Hg is a leading investor in software and services.