The UK's ClinPhone acquired U.S.-based DataLabs yesterday in a deal valued at up to $68.7 million, an acquisition it says will allow drug developers to gather electronic data from physicians involved in trials. ClinPhone's products for randomizing patient selection for clinical trial and gathering data electronically has won over a growing number of developers, helping to push the company into profitability. And with 80 percent of the market still reliant on paper records, ClinPhone is bullish about its prospects. Clinical trial automation has grown increasingly popular as developers try to streamline the process and cut costs. Contract orders increased 18 percent in the first half of this year, which has helped ClinPhone garner its first public profits. ClinPhone has been developing customized packages for clients but wants to roll out enterprise-wide software that can be used to collect data from all studies.
"We are already working with clients to manage all other aspects of their clinical trial and we can now collect submission data on their behalf too," said ClinPhone's CEO Steve Kent. "We are first to market with this integrated technology offering and our aim is to create lasting value for all clients throughout the industry."
- see the release on the deal
- and here's the report from AFX on ClinPhone