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Dassault Systèmes and Medidata Solutions, Inc, have announced the signing of a definitive agreement for Dassault Systèmes to acquire Medidata in an all-cash transaction at a price of $ 92.25 per share of Medidata, representing an enterprise value of $5.8 billion. The transaction was unanimously approved by the Boards of Directors of both companies. Medidata’s fiscal year ended December 31, 2018, and its revenue was $636 million.
“Today marks a significant milestone for the Life Sciences industry and the value of the virtual world to address the complexity of developing personalized medicine and patient-centric experiences. Multidiscipline scientific innovation and industrial performance call for a platform approach connecting the dots between people, ideas and data,” said Bernard Charlès, Vice Chairman and CEO, Dassault Systèmes. “Medidata’s leading position in clinical trials complements our life sciences solutions on the 3DEXPERIENCE collaborative platform. Medidata’s recent expansion into real world evidence and analytics coupled with the power of modeling and simulation demonstrates how the virtual world will catalyze the next generation of patient-inclusive therapeutics. We are now well positioned to be the enabler of the Life Sciences industry transformation, illustrating our company’s purpose of harmonizing product, nature and life.”
Medidata’s cloud-based solutions power the development and commercialization of therapies for 1,300 customers worldwide, including pharmaceutical companies and biotechs, contract research organizations (CROs), and medical centers and sites. Founded in 1999, Medidata is headquartered in New York City, with 16 offices across seven countries, notably in the U.S., Japan, Korea, and the U.K., and counts 2,800 employees and contractors.
“Our mission to get the right treatment, to the right patient, at the right time has fueled our 20-year journey of innovation and commitment to the life sciences industry,'' said Tarek Sherif, Co-founder, Chairman and CEO, Medidata. “We share common vision, values and passion with Dassault Systèmes, and our combined talents will empower the life sciences industry with an end-to-end business platform.”
“Facilitating new therapeutic innovations to become the next standards of care has been our commitment since day one,” said Glen de Vries, Co-founder and President, Medidata.
Completion of the acquisition is expected during the last quarter of 2019 and is subject to certain regulatory approvals, approval by the majority of Medidata’s shareholders and other customary closing conditions.
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