Deloitte Stakes Claim in Drug Safety & Regulatory Consulting Market With Acquisition of Intrasphere Technologies, Inc. Assets
NEW YORK, Aug. 15, 2011 /PRNewswire/ -- Blending the strengths of its world-class life sciences and research and development practice with a market leader in drug safety consulting, Deloitte today announced it has acquired substantially all of the assets of Intrasphere Technologies, Inc. (Intrasphere), a global drug safety and regulatory consulting business. Terms of the deal were not disclosed.
Headquartered in Jersey City, New Jersey, with its European headquarters in London, Intrasphere provides professional services to help life sciences companies improve product safety, signal intelligence, pharmacovigilance and regulatory information management capabilities.
The acquired assets include Intrasphere's PharmaCM®, a software solution that enables life sciences companies to register clinical trial information on government-mandated registries through the use of workflow-enabled functionality that allows for simplified content management and re-use. The PharmaCM® product will be provided as a service offering within Deloitte Managed Analytics, which is led by Richard Cohen, principal, Deloitte Consulting LLP.
The combined capabilities span a broad spectrum of business and technology solutions in the drug safety market. These solutions focus on enabling enhanced signal intelligence and analytics through the planning, design and implementation of drug safety data warehouses, adverse event management applications, remote data capture tools, and assembly of periodic reporting for regulatory agencies. As a result, this new business will tap into Deloitte's enterprise risk, security and regulatory compliance services, and additional business advisory services.
"We are excited about this important and strategic investment," said Dan Ressler, principal, Deloitte Consulting LLP, who will lead Deloitte's new drug safety and regulatory consulting business as part of his overall responsibilities in leading research and development informatics in life sciences. "The growing impact of health information technology and social media, greater complexity of therapeutic offerings in the marketplace, and an increasingly complex and stringent regulatory environment, in particular, have created an impetus for more proactive product safety and regulatory support services."
Ressler added, "The addition of Intrasphere's capabilities to the Deloitte portfolio of life sciences consulting services enhances our position in drug safety and regulatory consulting and expands the foundation on which we will continue to lead this market. Intrasphere brings deep proficiencies in drug safety, pharmacovigilance and regulatory capabilities to complement our existing life sciences and research and development practice enabling us to expand our ability to create market-leading strategic solutions for our clients."
Intrasphere's existing clientele have the potential to benefit significantly from the transaction. Deloitte's life sciences consulting practice features a broad suite of services ranging from strategy to execution across the life sciences value chain and global reach through the member firms of Deloitte Touche Tohmatsu Limited.
"Deloitte's broad-based relationships in life sciences give us access to clients where we don't have a presence today. Moreover, our staff and leadership now have the opportunity to gain exposure to a variety of resources and opportunities as part of Deloitte," said Bill Karl, co-founder and former chief executive officer of Intrasphere. Karl now joins Deloitte Consulting LLP as a director.