Medidata Solutions Announces Definitive Agreement to Acquire Clinical Force
Medidata Solutions announced that it has entered into a definitive agreement to acquire Clinical Force for undisclosed proceeds.The acquisition is subject to various standard closing conditions and is expected to be completed early in Medidata’s fiscal third quarter ending September 30, 2011.
Research sponsors and contract research organizations (CROs) are increasingly looking to reduce the financial and operational management burden of clinical trials, streamline clinical processes and increase visibility to timely information that enhances governance and decision-making. While software systems aiming to address these business challenges have typically required complex implementation projects with large upfront investments, lengthy timelines and ongoing maintenance costs, Clinical Force’s alternative CTMS solution eliminates these risks, providing a proven technology to customers over the past seven years.
Based in the UK, with customers in North America, Europe and India including more than a dozen CROs, Clinical Force has successfully enabled its customers to readily adopt CTMS with a low-risk solution that is quick-to-deploy, easy-to-use, flexible and modular. Research organizations large and small can selectively and rapidly automate a wide range of processes, including time and expense management, milestone tracking, monitoring reports and clinical investigator payments. Current Clinical Force revenue is not material to Medidata in 2011, but it is expected to grow based on access to Medidata’s global capabilities.
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