IMS Health, the worldâ€™s leading provider of market intelligence to the pharmaceutical and healthcare industries, today announced that Ari Bousbib has been named CEO, effective September 1, 2010. Mr. Bousbib, 48, joins IMS after a successful 14-year career with United Technologies Corporation (UTC), where he served in several senior leadership positions, most recently as president of UTCâ€™s Commercial Companies â€“ Otis Elevator Company, Carrier Corporation, and UTC Fire & Security.
The change is part of a planned succession in which current Chairman and CEO David R. Carlucci will continue to serve as chairman of IMS Health for a transition period.
â€śThis is an exciting and important time at IMS, and I am extremely pleased that Ari, an executive with a superb track record, will lead the global IMS team,â€ť said Mr. Carlucci. â€śI am delighted with the outcome of our search for a successor. IMS is well positioned to continue to execute on our global growth strategy by maintaining an unwavering commitment to clients, and I look forward to working with Ari and the IMS Board.â€ť
IMS Health was purchased by TPG Capital, the Canada Pension Plan Investment Board (CPPIB), and Leonard Green & Partners in a take-private transaction that closed on February 26, 2010.
â€śWe are very impressed by what Dave and team have achieved at IMS,â€ť said Jim Coulter, founding partner, TPG Capital. â€śHe has provided inspired leadership to IMS over the past eight years â€“ playing a prominent role in greatly enhancing the value of the companyâ€™s offerings in the marketplace and extending IMSâ€™s worldwide growth strategy to a broader range of health industry clients. We are pleased that he will continue to serve on the Board and work with Ari to assure a smooth transition. Ari is a strong strategic leader, who has demonstrated an ability to build and run complex, global businesses. He has a great track record of business success in professional services and large customer partnerships.â€ť
â€śI welcome the opportunity to help grow this franchise,â€ť said Mr. Bousbib. â€śThroughÂ the innovative use of information, IMS Health has become an integral part of global healthcare. Dave has built an impressive organization, and I look forward to leading this team as we continue to enhance the depth, scope and reach of our offerings and as IMS seeks new ways to make a difference in healthcare.â€ť
Since 2008, Mr. Bousbib has been serving as president of UTCâ€™s Commercial Companies, with responsibility for the strategic direction and operational performance of Otis Elevator Company, Carrier Corporation and UTC Fire & Security, accounting for approximately $30 billion of UTCâ€™s annual revenues and 140,000 employees. From 2002 to 2008, Mr. Bousbib served as president of Otis Elevator, growing that global leader from approximately $6 billion to approximately $12 billion in revenues during his tenure. Previously, he served in various operating, strategy and development roles at UTC. Mr. Bousbib is a former partner at global management and technology consulting firm Booz Allen Hamilton, and has been serving on the Board of Directors of The Home Depot since 2007. In May 2008, Mr. Bousbib was appointed by the President of the United States to serve on the Presidentâ€™s Commission on White House Fellowships, Americaâ€™s most prestigious program for leadership and public service.
About IMS Health
Operating in more than 100 countries, IMS Health is the worldâ€™s leading provider of market intelligence to the pharmaceutical and healthcare industries. With more than 55 years of industry experience, IMS Health offers leading-edge market intelligence products and services that are integral to clientsâ€™ day-to-day operations, including product and portfolio management capabilities; commercial effectiveness innovations; managed care and consumer health offerings; and consulting and services solutions that improve productivity and the delivery of quality healthcare worldwide. Additional information is available at http://www.imshealth.com.
About TPG Capital
TPG Capital is the global buyout group of TPG, a leading private investment firm founded in 1992, with more than $47 billion of assets under management and offices in San Francisco, Beijing, Fort Worth, Hong Kong, London, Luxembourg, Melbourne, Moscow, Mumbai, New York, Paris, Shanghai, Singapore and Tokyo. TPG Capital has extensive experience with global public and private investments executed through leveraged buyouts, recapitalizations, spinouts, growth investments, joint ventures and restructurings. TPGâ€™s healthcare investments have included Axcan Pharma, Biomet, Fenwal, IASIS Healthcare, Oxford Health Plans, Parkway Holdings, Quintiles Transnational and Surgical Care Affiliates, among others. TPGâ€™s technology investments have included Alltel, Aptina, Avaya, Fidelity National Information Services, Freescale, Intergraph, Lenovo, MEMC, ON Semiconductor, Sabre, Seagate and Sungard, among others.
About the CPP Investment Board
The CPP Investment Board is a professional investment management organization that invests the funds not needed by the Canada Pension Plan to pay current benefits on behalf of 17 million Canadian contributors and beneficiaries. In order to build a diversified portfolio of CPP assets, the CPP Investment Board invests in public equities, private equities, real estate, inflation-linked bonds, infrastructure and fixed income instruments. Headquartered in Toronto, with offices in London and Hong Kong, the CPP Investment Board is governed and managed independently of the Canada Pension Plan and at armâ€™s length from governments. At June 30, 2010, the CPP Fund totaled $129.7 billion. For more information about the CPP Investment Board, please visit www.cppib.ca.
About Leonard Green & Partners, L.P.
Leonard Green & Partners is one of the nationâ€™s leading private equity firms with over $9 billion in equity commitments under management. Leonard Green & Partners, L.P. was founded in 1989 and has invested in 51 companies with an aggregate value in excess of $42 billion. The firmâ€™s investments are focused primarily on North American companies in a range of industries including retail, consumer products, distribution, media, business services and healthcare.
Significant investments include Whole Foods Market, Neiman Marcus Group, Petco Animal Supplies, The Sports Authority, The Container Store, Tourneau, Davidâ€™s Bridal, Jetro Cash and Carry and The Tire Rack. Please visit www.leonardgreen.com.Business Wire
Last updated on: 27/08/2010