IQVIA and Pro­pel aban­don merg­er af­ter FTC probe and in­junc­tion

IQVIA is call­ing off its ac­qui­si­tion of Pro­pel Me­dia and health tech mar­keter Deep­In­tent. The com­pa­nies agreed to aban­don the deal af­ter an FTC probe that re­sult­ed in a court-or­dered in­junc­tion last week.

While the in­junc­tion was tem­po­rary, IQVIA and Pro­pel would have had to con­vince FTC reg­u­la­tors in its in­ter­nal ad­min­is­tra­tive court tri­al to green­light the deal.

“We faced a seem­ing­ly im­pos­si­ble de­ci­sion of hav­ing to choose whether to con­tin­ue in­vest­ing our time and en­er­gy in­to what we un­con­di­tion­al­ly be­lieve is a pro-com­pet­i­tive merg­er, or in­vest­ing our pre­cious, fi­nite re­sources in­to build­ing our busi­ness and bet­ter serv­ing our clients,” Deep­In­tent CEO Chris Pa­que­tte wrote in an open let­ter to clients and part­ners on Thurs­day.

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