May 3 (Reuters) - Medical contract research provider Quintiles Transnational Holdings Inc and IMS Health Holdings Inc said they would merge, creating a company with a market value of more than $17.6 billion.

Under the deal, IMS Health shareholders will receive 0.384 shares of Quintiles for each share held.

After the deal, IMS Health shareholders will own about 51.4 percent of the combined company's shares, while Quintiles shareholders will own the rest.

IMS Health provides market and sales research services to the healthcare industry.

(Reporting by Natalie Grover and Ankur Banerjee in Bengaluru; Editing by Saumyadeb Chakrabarty) ((natalie.grover@thomsonreuters.com)(;)(within U.S. +1 646 223 8780, outside U.S. +91 99 1694 7070)(; Reuters Messaging:)(natalie.grover.thomsonreuters.com@reuters.net))