Greenfield-based Healthcare Business Insights has been acquired by Burlington, Mass.-based Decision Resources Group, a subsidiary of Piramal Enterprises Ltd.
Healthcare Business Insights was sold by Mike Zimmerman, whose Greenfield-based Zimmerman Ventures LLC owns and operates the Milwaukee Wave, Rockford Aviators, Kokomo Jackrabbits, Jamestown Jammers, The Rock Sports Complex in Franklin and other entertainment venues under the MKE Sports & Entertainment umbrella.
HBI offers best practice research, training and services to more than 1,400 hospitals nationwide, which are aimed at addressing industry issues and enhancing performance. It has 85 employees, all of whom will be retained at the Greenfield location in the transaction. HBI will continue to operate under its brand name as a unit of DRG, and Mike Doyle will remain president and CEO, said Mark Luck Olson, president of DRG Global Consulting Services.
“Our intention is for HBI to be the provider platform for our company,” Olson said. “The people, the company, the brand is our face to the U.S. provider market.”
DRG expects to hire employees as the combined company grows, likely this year and into 2016, Olson said. Zimmerman will also provide consulting for the company going forward.
Decision Resources Group, which has 700 employees, provides data, analytics and insights products and services for the health care industry, which are meant to help pharmaceutical, biotech, medical device, financial services and payer companies compete in the health care marketplace. Its parent, Piramal, is one of India’s largest diversified companies, with businesses in the health care, financial services and information management sectors.
“We are delighted that HBI, a clear leader in the hospital insights market, will become a part of the DRG family, marking our entry into the provider space,” said Jim Lang, chief executive officer of DRG. “The dynamic combination of HBI’s provider-focused services with DRG’s world-class data and life sciences research will help America’s hospitals and health systems successfully navigate the complicated post-Affordable Care Act health care landscape. Health care is converging in the acceleration toward value-based care. Every innovative move, whether a new treatment, device, technology or process, will require collaboration among industry constituents to manage cost and deliver quality outcomes. Together, we will help our clients enhance their ability to deliver value.”
“HBI is a ‘customer-first’ organization, and we are extremely proud of what we have built over the last decade, deliberately executing on our business model with a servant’s heart,” said Mike Doyle, CEO of HBI. “Attaining our continued growth—with over 1,400 hospital members—while achieving industry-leading renewal rates year-over-year is not an easy task, and we look forward to maintaining those great relationships going forward. Our team is very excited about joining DRG, as they share the same service-minded philosophy and vision for helping the healthcare industry. We believe our combined resources only serve to bring more value to our members.”