Virtify Inc. signed a deal with IMS Health, the healthcare data giant, to market its regulatory compliance services in Europe, according to an Xconomy.com report.
The Cambridge, Mass.-based company offers what it calls the first secure, completely Web-based compliance program designed to work across multiple regulatory jurisdictions.
The deal with Norwalk, Conn.-based IMS, which provides data on pharmaceutical markets and doctors’ prescribing habits to most of the pharma industry’s biggest players, is aimed at accelerating six-year-old Virtify’s growth. Though profitable, the company decided to raise the $15 million to speed its expansion plan, according to the blog.
“[The IMS deal] is really going to enable us to take advantage of where we are in the marketplace, looking ahead to growth and bringing our solutions to market with greater scalability in terms of implementation and add-on services,” Virtify senior director of marketing Dwight Galler told Xconomy.
Virtify employs 175 workers in Cambridge, Bulgaria, India and the Philippines and does not publicly report revenues or earnings.