Phase Forward Clinical Trial and Healthcare Data Management Firm Purchased by Oracle
Posted Apr 16 2010 7:54am
It certainly appears that business intelligence algorithms in healthcare are at an all time high today, and we have more data to analyze and study than every before as well. Phase Forward has a suite of software solutions extending beyond just clinical trial data.
I talk quite a bit about devices that report data and in clinical trials we seem to be headed in the same direction as the text clip below from the Phase Forward website indicates “handheld” interface, so in the future we can look for clinical trials reporting to take on some new faces in the way that data is collected too. For accurate clinical trial results data substantiating compliance is on the move. A while back I had a post about a shirt that was being marketed towards companies that do trials as well.
The purchase price is not cheap here as well as a 30% premium on the price per share is indicated. BD
From the Website:
“OutcomeLogix ePRO provides an intuitive interaction to support patient reported or third party reported observational data collection via a web-based or a handheld interface. With OutcomeLogix ePRO, patients, parents, observers, caretakers, and others can easily navigate to and complete pertinent study questionnaires and surveys. Simple screen designs reduce confusion while built-in logic ensures reliable data collection. Users access our system via an encrypted SSL login with a unique username and password. “
“Data from various medical devices can be integrated into the OutcomeLogix Site Reported Data Capture or ePRO system. Using wireless technology, glucose levels, weight, peak flow, blood pressure, ECG, and other in-home monitoring device data can be integrated via a single Bluetooth® hub located in a patient’s home.”
On April 16, 2010, Oracle announced that it has entered into an agreement to acquire Phase Forward, a leading provider of applications for life sciences companies and healthcare providers. The proposed transaction is subject to Phase Forward stockholder approval, regulatory approvals and other customary closing conditions. Until the transaction closes, each company will continue to operate independently, and it is business as usual. The life sciences and healthcare industries continue to focus on improving patients’ health and medical outcomes while addressing the cost of healthcare.
With Phase Forward, Oracle expects to help health sciences customers better capture, access, manage and share clinical and medical data. Customers are expected to gain greater insight into patient outcomes during drug development and while providing healthcare services. The complementary combination of Phase Forward and Oracle products is expected to accelerate the delivery of innovative therapies to patients and help control healthcare costs.