Piramal Enterprises Ltd., part of Indian conglomerate Piramal Group, has agreed to sell its healthcare insights and analytics business Decision Resources Group (DRG) to Clarivate Analytics for $950 million.

The sale remains subject to shareholder approval but is expected to close by the end of February 2020.

 “We are pleased to have grown DRG’s market leadership over the last few years and believe that through this combination, Clarivate, with its size and scale, is well positioned to further accelerate DRG’s growth potential,” said Piramal Group chairman Ajay Piramal.

Jerre Stead, executive chairman and CEO Clarivate Analytics, said the “milestone” acquisition doubles the size of its Life Science business and he expects DRG to increase Clarivate’s total revenue by 20% and deliver around $77 million in annual adjusted EBITDA before the pursuit of any revenue synergies.

The US-based company added that DRG will see it well positioned in the $19 billion Life Sciences analytics market, which is enjoying double-digit growth, to support customers across the entire drug, device and medical technology lifecycle from research to outcome, helping them to improve the commercialization of life-changing therapies.