Data analytics company for clinical trials Medidata will acquire Shyft Analytics in a move to help life sciences companies streamline the way they develop products.
The move will combine both of the companies’ technologies to deliver applications services and data sciences capabilities, powered by the world’s largest pool of research data which includes commercial and real-world data sources.
Through the acquisition, the companies have launched the new Intelligent Platform for Life Sciences, which is intended to enhance drug and device discovery, development, and commercialisation. The new service is designed to:
- Accelerating value – Demonstrate efficacy and safety, obtain regulatory approval, and achieve peak revenue faster.
- Minimising risk – De-risk the planning and execution of clinical development and commercialisation strategies.
- Optimising outcomes – Provide the best possible outcomes for patients, providers, and payers with increasingly precise therapies.
Speaking about the acquisition, Tarek Sherif, chairman and chief executive officer, Medidata, said: “Together, Medidata and Shyft are powering customers’ digital transformation with artificial intelligence and real-world analytics to reduce risk, optimise revenue, and ultimately help patients. Combining our innovative solutions, talented teams and shared values, across both organisations will help life science companies streamline the way they develop products and bring them to market. Getting the right treatment, to the right patient, at the right time is a vision we have long shared with our customers.”
Shyft CEO and founder, Zack King said: “ Shyft and Medidata share a common vision to transform how life science companies harness the value of data to advance enterprise decision-making and patient outcomes. Our talented team has had great success delivering value to the industry and our combined technology will create something unique that will unlock enormous opportunities for our customers. We are thrilled to be joining forces with Medidata to further execute our mission to advance healthcare through analytics.”