MedSource Builds On Growth Strategy With New Data Management Team, UK Facility
HOUSTON, June 13, 2017 /PRNewswire/ -- Houston-based MedSource expanded its clinical development repertoire, acquiring the data services division of biometrics and technology company Datatrial in early 2017. The deal both strengthens MedSource's position as a full-service clinical research organization (CRO) and paves the way for a greater presence within the European market, accelerating MedSource's growth trajectory as a result.
For the past three years, MedSource has grown significantly, opening new facilities in San Diego and Raleigh, North Carolina, and increasing the number of employees by more than 100 percent. In just two years, MedSource's revenue grew 260 percent, and throughout, the company has built a strong reputation for delivery of superior clinical offerings. Bringing resources and staff with biometric services expertise under the MedSource umbrella bolsters this reputation and provides clients access to a full suite of services in-house.
"The decision to move forward with this acquisition aligns with our commitment to more completely meet the needs of our clients," said Eric Lund, MedSource president and CEO. "MedSource will continue to provide the quality, flexibility and transparency our clients are accustomed to, with the added benefit of these data services being managed and controlled under one roof. These newly acquired offerings – including end-to-end clinical biometrics, data management, biostatistics and medical writing – allow MedSource to better grow alongside its clients."
As part of the deal, the data services team and staff in the U.S. and U.K. will be based entirely within MedSource, ensuring a seamless transition of expertise and resources. MedSource also continues its expansion with a new office in the U.K., taking its total number of offices to four, globally, and immediately increasing the organization's international footprint and accessibility for small- to mid-sized biotech companies in the European market.
Through the divestiture of its data services division, Datatrial positions itself as a stand-alone technology company, allowing it to place greater attention on the development of its industry-leading software platform. Datatrial now has the flexibility and investment needed to expand its technology arm and develop solutions for CROs, biotech and pharmaceutical customers industrywide.
From MedSource's perspective, Datatrial's nowEDC platform has long been its e-clinical software of choice. The acquisition ensures MedSource's ability to bring on board a team with an unparalleled knowledge base and expertise on nowEDC, as well as a built-in familiarity with current MedSource projects, a benefit to the existing team, as well as its current and prospective clients.
"This is an exciting time for Datatrial and an opportunity to re-focus the efforts of our organization," said Emma Banks, CEO of Datatrial. "The transaction with MedSource allows us to commit more time and resources to expand and develop our leading-edge technology platform. Over the last 10 years, we have worked closely with CROs to provide high-quality clinical trial services. As we embark on this next phase, developing new and innovative products, we look forward to continuing our work with MedSource and others."
About MedSource
MedSource is an award-winning, full-service clinical research organization (CRO) focusing on complex study designs and diseases with a particular expertise in oncology and central nervous system disorders. MedSource began as a specialized clinical services group and has consistently expanded to add a full suite of clinical trial management services and staff to increase its value to clients. With offices throughout the U.S. and the U.K., the company's focus on quality, consistency and transparency has been foundational to its growth. www.MedSource.com
About nowEDC
The nowEDC system provides data capture, verification and validation, query management, data extract, randomization, and real-time reporting in one integrated system. nowEDC is easy to use, fully validated and highly configurable. The flexible aspects of nowEDC also make it a natural fit for handling both complex trial designs as well as adaptive clinical trials. https://www.datatrial.com/software/nowedc
About Datatrial
Datatrial is a technology-focused business with a mature and elegant EDC system. Since 1999, it has been serving the pharmaceutical community through its commitment to service and quality. Headquartered in Newcastle upon Tyne, U.K., and with offices in Boston, Massachusetts and BioHub at Alderley Park, U.K., it is able to support global clinical development programs. With involvement in more than 300 clinical trials across 25 therapeutic areas and with extensive oncology experience, Datatrial works with customers to develop software solutions to best fit their needs. https://www.datatrial.com/
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