A few CROs, like PRA Health Sciences, are turning to eHealth acquisitions to strengthen their data technology capabilities.
We already know that CROs are popular targets. But CROs can play the role of acquirer, too. Lately, a few of these companies have been busy claiming eHealth targets to advance their technological capabilities, namely data capabilities.
On August 7, 2017, PRA Health Sciences, Inc. (NASDAQ: PRAH) acquired privately-held Symphony Health Solutions Corporation. The deal valued Symphony at $530 million, or 2.65x revenue. But, that value could be even larger depending on Symphony Health exceeding financial targets in 2017 and 2018
Symphony Health Solutions Corporation provides high-value data, analytics, and technology solutions for biopharmaceutical manufacturers, healthcare providers, and payers. It helps clients understand disease incidence, prevalence, progression, treatment and influences by connecting and integrating a broad set of primary and secondary data.
A few days prior, on August 3, PRAH announced the purchase of privately-held Parallel 6, Inc. from HCAP Partners. Parallel 6 is a mobile clinical SaaS platform designed to recruit, enroll, engage and manage patients in clinical trials. The technology enables sponsors and CROs to connect directly with and manage patients anywhere in the world. Terms were not disclosed.
In June of this year, privately-held MedSource, a full-service CRO, acquired the data services division of Datatrial Ltd. The acquisition includes its nowEDC system, which provides data capture, verification and validation, query management, data extract, randomization, and real-time reporting in one integrated system. Datatrial now has the flexibility and investment needed to expand its technology arm and develop solutions for CROs, biotech and pharmaceutical customers industry-wide. The deal both strengthens MedSource’s position as a full-service CRO and creates a greater presence within the European market. Terms were not disclosed.
