TPG Capital and CPP Investment Board completed their acquisition of IMS Health Inc., taking the Norwalk-based company private.
IMS Health collects drug prescription information and sells the data to pharmaceutical companies for use as competitive benchmarks. In 2009, the company had a $260 million profit on $2.2 billion in revenue, down 6 percent from the year before.
IMS reported having 7,250 employees at year end, down 250 from a year earlier.
“As a private company, we will continue to innovate for client needs and look forward to working with our new partners as we capitalize on our expanding opportunity in the health care market,” said David Carlucci, CEO of IMS Health, in a prepared statement.
Carlucci received $7.3 million in compensation in 2009, up from $6.5 million in 2008.
TPG capital is a private-equity fund based in San Francisco; CPP has its headquarters in Toronto and manages Canada”™s pension plans.
CITATIONAIR
Cessna Aircraft Co. acquired the remaining 8 percent of shares of CitationAir it did not already own.
Greenwich-based CitationAir offers jet cards, jet shares and other services for individuals, businesses and corporate flight departments, operating a fleet of 80 Cessna aircraft.
CitationAir was started in 2000 as a joint venture between Cessna and TAG Aviation Holding SA. Cessna had gradually acquired a greater share through the past decade; the company stated it will continue to operate CitationAir as a wholly owned subsidiary with a separate operation.
Cessna is based in Wichita, Kan., and is a division of Providence, R.I.-based Textron Inc.
Â
CTM Media Holdings Inc.
For $4 million in cash and a promissory note, CTM Media Holdings Inc. is selling off its WMET radio station in Silver Spring, Md. to a company called Huffines Media L.L.C.
The deal is subject to approval by the Federal Communications Commission.
CTM was spun out of IDT Corp. last year and is based in Stamford.
