To build up its electronic patient-reported outcomes (ePRO) business, Philadelphia-based ERT has acquired its competitor Invivodata. The deal buttresses ERT's position as a global provider of technology and services for clinical studies, the company announced today.
ERT, or eResearch Technology, has purchased Pittsburgh-based Invivodata on the heels of a $400 million deal led by investment firm Genstar to take ERT private. The close of that transaction was announced last week. San Francisco's Genstar supported ERT's buyout of Invivodata, which provides hand-held devices used as electronic diaries by patients in clinical trials and other studies to report their conditions.
Financial details of the Invivodata purchase weren't disclosed. However, ERT says the newly acquired company has grown revenue, profit and head count over the past three years, and in 2011 Invivodata had record growth and added more than 160 clinical projects. With this buyout, ERT says it is the No. 1 provider of ePRO and clinical outcome assessments (COA), both fast-growing segments in clinical research.
"ERT is a leader in providing cardiac safety and respiratory solutions and, by adding Invivodata's team of scientists and technology experts, we accelerated this strategic initiative, which will provide our joint clients with consistent, scientifically accurate outcome assessment data, which will be accessible from one platform," Jeffrey Litwin, ERT's CEO, said in a statement. "We are delighted to welcome the new team aboard."
If used properly, ePRO technologies enable sponsors and CROs to collect data from patients outside of traditional clinics, potentially reducing the number of trips to clinical trial sites and providing richer data on how treatments impact patients' health.
- here's the release