Redwood Shores, Calif.-based Oracle Corp. will acquire clinical trials management software vendor Phase Forward Inc. for $685 million.
Based in Waltham, Mass., Phase Forward's applications cover the clinical trials process from study initiation and FDA submission through post-marketing studies. The applications have been used in over 10,000 clinical trials involving more than 1 million trial study participants at more than 300 life sciences companies, medical device firms, regulatory agencies and public health organizations, according to the company.
Publicly traded Phase Forward in 2009 had revenue of $213.3 million, up 25 percent from the previous year. Net income fell 42 percent to $8 million, with significantly higher expenses during 2009 across the sales and marketing, research and development, and general and administrative areas.
Upon closure of the acquisition, Phase Forward will be part of Oracle's Health Sciences division. More information is available at oracle.com and phaseforward.com.
This article can also be found at HealthDataManagement.com.