Quintiles is boosting its capabilities for providing data and research to life science firms by acquiring Outcome Sciences, Inc.
The privately held firm, which is based in Massachusetts, focues on so-called observational research services. Its focus is working with clients to study post-release drug data information based on patient outcomes.
“At a time when healthcare costs are fast outstripping resources, delivery is becoming increasingly patient-centered and commissioning practices are changing worldwide – the need for clear and comprehensive, patient-based outcome measures has never been greater,” the company says on its website.
“Outcomes is a healthcare technology company established to develop practical and scalable solutions for measuring patient outcomes in a wide range of healthcare settings.”
Quintiles sees the addition as another tool to offer drug and health science produce development firms.
“This acquisition underscores Quintiles’ commitment to delivering efficient, insightful late phase solutions to help customers show the value of their products to patients, providers and payers,” said Quintiles President and Chief Operating Officer John Ratliff in a statement.
“The phase IIIB/IV market is forecast to reach more than $4 billion by 2015, up significantly from 2011,” he added. “We estimate that observational research accounts for about 30% of that market, and Outcome is the notable leader in it. With this acquisition, no other biopharmaceutical services company can match Quintiles’ level of late phase science and strategy, global reach and service specialization.”
Financial terms were not disclosed. (Read about the earlier deal here.)
The acquisition is the second Quintiles, the world’s largest life sciences services and investment firm, announced on Wednesday.
The 13-year-old company covers more than 40 therapeutic areas and works with patients across more than 80 countries.
Richard Gliklich, the founder of Outcome and its president, will join Quintiles as global head of late phase for Quintiles.
“There is tremendous opportunity for a best in class provider of the full spectrum of late phase and comparative effectiveness research services on a worldwide basis. To be that entity, we needed to find the right partner,” Gliklich said. “That partner is Quintiles and the time is now. Our customers will benefit from a marriage of our strength in observational research to Quintiles’ market-leading interventional Phase IIIB and IV presence and adjacent capabilities. We benefit from Quintiles’ global reach, financial flexibility, and access to biopharma customers and unique data analytics capabilities. Together, we will continue to assist our clients with demonstrating or improving the safety, effectiveness, value and quality of their healthcare products, therapies and services.”
Quintiles employs more than 20,000 people in 60 countries.
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