SOMERSET, N.J., Nov. 7 -- inVentiv Health, Inc. (Nasdaq: VTIV - News) announced
today that is has completed the acquisition of American Speakers Education Research
Training LLC (ASERT), a medical education and training company, and DialogCoach(TM)
LLC, a specialty training organization that employs proprietary software tools and
e-learning solutions to improve sales force effectiveness.
ASERT delivers customized education and training solutions (advisory boards, modules,
and other unique training solutions) to the pharmaceutical, biotech, medical device
and life sciences industries. The DialogCoach(TM) product is an interactive, personal
role play simulator system which incorporates creative instructional design and
voice recognition technology. The system is designed to take learners beyond role
play, resulting in significant improvements in retention and post-training performance.
Under the terms of the agreement, inVentiv will acquire ASERT and DialogCoach(TM)
for $5.0 million in cash and stock, plus earn-out payments for exceeding specified
financial targets. The acquisition is expected to be modestly accretive to inVentiv's
earnings.
Terry Herring, President and CEO of inVentiv Commercial said, "The acquisition of
ASERT and DialogCoach(TM) strengthens the training and support service capabilities
of our Professional Development Group (PDG), consistent with the growing importance
of these specialized service offerings within inVentiv Commercial Services. DialogCoach(TM)
is a well-known and respected training tool that currently is being utilized by
several top tier pharmaceutical companies and provides a very complementary addition
to our sales force training offerings. This combination further capitalizes on synergies
realized in collaborations to-date by PDG with ASERT and DialogCoach(TM), and enables
us to provide a broader array of "best in class" sales force training solutions
for our clients.
Bill Jacobs, President of ASERT and DialogCoach(TM), added, Industry trends continue
to favor highly effective and efficient sales force training programs. Joining inVentiv
provides the ASERT and DialogCoach(TM) businesses with significantly enhanced market
access and opportunity to accelerate use of the DialogCoach(TM) training tools.
Most importantly, combining with inVentiv PDG facilitates an even more streamlined
solution for our clients.
Ventiv's Professional Development Group (PDG) provides a variety of training services
to the pharmaceutical and biotech industry, ranging from initial skill assessments
to specialized skill-set training and development. Their customized curriculum design,
development and delivery focuses on the areas of communication, advanced selling
skills, leadership, and management. For more information on the Ventiv Professional
Development Group, contact Bryan Horveath, Vice President and Managing Director.
pdg@inventivhealth.com
