- Veeva Systems recently announced it is acquiring Crossix Solutions for $430 million. These are the details behind the deal.
Veeva Systems recently announced that it is acquiring Crossix Solutions for $430 million. Crossix is considered the leader in privacy-safe patient data and analytics. And Crossix will operate as an independent business unit under its current brand headed by Crossix CEO Asaf Evenhaim.
As part of the agreement, Veeva will acquire Crossix for a purchase price of $430 million paid all in cash subject to customary purchase price adjustments. And certain Crossix employees will receive long term equity retention grants valued at approximately $120 million in the aggregate. This acquisition is expected to close in November.
Crossix is trusted by over 200 pharmaceutical brands and the company delivers privacy-safe U.S. patient data and a high-quality analytics platform to help maximize media and marketing effectiveness.
“Crossix has been the pioneer in patient data, privacy, and analytics,” said Veeva founder and CEO Peter Gassner. “As we look toward the future of a more patient-centric healthcare system, Asaf and I are excited to join forces to help the industry deliver better patient outcomes.”
Crossix’s analytics platform provides technology that connects health and non-health data for over 300 million U.S. patients to drive greater marketing effectiveness. The data includes Rx, OTC, clinical, claims, consumer, hospital, media data, etc. – all of which are protected by exceptional privacy safeguards.
“Veeva’s acquisition of Crossix is great for our customers and employees. It allows Crossix to join a proven technology leader and advance our solutions for the industry,” added Evenhaim. “Most importantly, our companies share a commitment to innovation and have a common way of working that values integrity, long-term thinking, and customer success.”
Going forward, Crossix will remain headquartered in New York and it will continue operations in Israel and Belarus.
