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Oracle announced that it has agreed to acquire ClearTrial, a provider of cloud-based Clinical Trial
Operations and analytics products that make the planning, sourcing, and tracking of clinical projects and financial performance faster and more accurate. Until the transaction closes, Oracle and ClearTrial will continue to operate independently, and it is business as usual. Biopharmaceutical, medical device and diagnostic companies, as well as contract research organizations (CROs), are faced with the increasing complexity and cost of bringing new therapies to market.
Traditional methods of using spreadsheets, generic planning software, and ad hoc planning processes have lead to lengthy planning cycles, inaccurate budgets, and high variances between planned budgets and actual costs. Greater pressure is being placed on clinical trial managers to deliver projects on time and within budget while the trials continue to grow in size and international scope and are executed by outsourcing partners.
The combination of Oracle and ClearTrial is expected to deliver a comprehensive closed-loop clinical trial management offering from planning to payment. ClearTrial’s activity-based costing solutions use embedded intelligence based on deep industry expertise to help life sciences companies manage the rising costs and increasing complexities of bringing new therapies to market.
Oracle provides integrated clinical development and safety management capabilities that streamline study layout and design, patient data collection and management, clinical study modeling, and full data analysis and reporting. Together, Oracle expects to enable companies to significantly improve their ability to manage clinical trials across geographies, outsourcers, therapeutic areas, and trial phases resulting in a better return on their R&D capital investments.
Expected benefits for Health Sciences customers after the close of the transaction include the following:
• Streamlines the entire clinical development process from planning to payment
• Improves and speeds the budget planning and forecasting process
• Provides transparency into trial performance and timelines for improved collaboration, decision making, and R&D capital management
• Delivers a rapid return on investment through easy-to-use cloud-based offering