By Clinical Informatics News Staff

June 18, 2018 | Medidata announced that it has entered into a definitive agreement to acquire SHYFT Analytics for $195 million.

As part of the acquisition, the two companies will develop a combined platform, which both Medidata and SHYFT believe will deliver market-leading applications, services, and proven data science capabilities, powered by the largest global pool of research data, companies’ own CRM data, 3rd party commercial data, and real-world data sources.

SHYFT will continue to operate independently with minimal disruptions and reporting changes, SHYFT’s CRO Joe Tyers told Clinical Informatics News in an email interview.

“While still independent, SHYFT still has financial and operational goals for 2018 and 2019,” Tyers said. “Medidata’s scale (1,000 customers) and desire to invest heavily in SHYFT’s market opportunity bodes well for significant growth.”

“Together, Medidata and SHYFT are powering customers’ digital transformation with artificial intelligence and real-world analytics, reducing risk, optimizing revenue, and ultimately helping patients,” said Tarek Sherif, chairman and chief executive officer of Medidata, said in a press release. “Combining our innovative solutions, talented teams and shared values, across both organizations will help life science companies streamline the way they develop products and bring them to market. Getting the right treatment, to the right patient at the right time is a vision we have long shared with our customers.”

The new Intelligent Platform for Life Sciences, a name more descriptive than formal according to Tyers, significantly enhances drug and device discovery, development and commercialization by accelerating value, demonstrating efficacy and safety, obtaining regulatory approval, and achieving peak revenue faster; minimizing risk by de-risking the planning and execution of clinical development and commercialization strategies; and optimizing outcomes by providing the best possible outcomes for patients, providers, and payers with increasingly precise therapies.

Tyers said that new products linked to this acquisition are currently in the early phases of concept and development.