Looking to keep cashing in on the growing outcomes data market, Philadelphia's ERT has acquired Invivodata. The deal will beef up ERT's electronic patient-recorded outcomes (ePRO) product portfolio as well as its reach in clinical outcome assessments (COAs). Terms of the deal were not released.
Like ERT, Invivodata provides electronic solutions and services for clinical research, ERT says in a release. Among Invivodata's tech arsenal are hand-held devices that trial participants use as diaries. The Pittsburgh company recorded revenue growth over the past three years and secured 160 clinical projects in 2011, according to ERT.
The clinical outcomes data market is set to increase more than 50% in the next three years. One reason is because ePRO products make it easier for participants of all ages to engage in trials, allowing them to submit data from their homes rather than going to labs. Data integrity also serves as a big selling point of ePROs for CROs, as the chances of patients recording faulty stats are lessened through electronic media. ePRO products also timestamp data, improving transparency.
The purchase tops off a big month for ERT. Last week, it was acquired for $400 million by investment group Genstar Capital in a deal to make ERT a private company.
- check out the ERT release
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