IMS Health and Quintiles, two long-standing companies offering a variety of technology and information services to healthcare provider, payer and life sciences organizations, will combine in a “merger of equals” transaction.

Under terms of the acquisition, IMS Health will own 51.4 percent of shares of the combined company, with Quintiles owning 48.6 percent. Ari Bousbib, chair and CEO at IMS Health, will serve as chair and CEO of the new company, to be called Quintiles IMS Holdings Inc. Tom Pike, CEO of Quintiles, will serve as vice chairman. The board will be evenly split. The deal is expected to close in the second half of 2016.

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