On April 16, 2010, Oracle announced that it has entered into an agreement to acquire Phase Forward, a leading provider of applications for life sciences companies and healthcare providers. The proposed transaction is subject to Phase Forward stockholder approval, regulatory approvals and other customary closing conditions. Until the transaction closes, each company will continue to operate independently, and it is business as usual.
The life sciences and healthcare industries continue to focus on improving patients' health and medical outcomes while addressing the cost of healthcare. With Phase Forward, Oracle expects to help health sciences customers better capture, access, manage and share clinical and medical data. Customers are expected to gain greater insight into patient outcomes during drug development while providing healthcare services. The combination of Phase Forward and Oracle products is expected to accelerate the delivery of innovative therapies to patients and help control healthcare costs.
Phase Forward management and employees are expected to join Oracle as a part of the Oracle Health Sciences global business unit, ensuring the continuity of products and services delivery for Phase Forward customers, and bringing significant domain expertise to Oracle. Oracle is expected to offer health sciences customers greater choice in software delivery options as a result of adding Phase Forward's SaaS-based offerings. Phase Forward and Oracle will be able to better support the convergence of life sciences and healthcare and to help our customers deliver value-based healthcare.
After the transaction closes, partners will have the opportunity to broaden their offerings to life sciences and healthcare customers. Oracle partners are expected to benefit from the complementary solutions that provide an opportunity to increase business value and drive down the total cost of ownership through a modern integrated, standards-based solution that supports the convergence of life sciences and healthcare.
The transaction is expected to close in the mid-2010. Until the transaction closes, Oracle and Phase Forward will continue to operate independently. To learn more about the proposed combination of Oracle and Phase Forward, please visit oracle.com/phaseforward.
We appreciate your continued support.
Neil de Crescenzo Senior Vice President and General Manager Oracle Health Sciences
Judson Althoff Senior Vice President, Worldwide Alliances and Channels Oracle
This document is for informational purposes only and may not be incorporated into a contract or agreement.
Cautionary Statement Regarding Forward-Looking Statements This document contains certain forward-looking statements about Oracle and Phase Forward, including statements that involve risks and uncertainties concerning Oracle's proposed acquisition of Phase Forward, anticipated product information and strategy, benefits of the acquisition to customers and others in the industry and general business outlook. When used in this document, the words "can", "will", "expects", "is expected", similar expressions and any other statements that are not historical facts are intended to identify those assertions as forward-looking statements. Any such statement may be influenced by a variety of factors, many of which are beyond the control of Oracle or Phase Forward, that could cause actual outcomes and results to be materially different from those projected, described, expressed or implied in this document due to a number of risks and uncertainties. Potential risks and uncertainties include, among others, the possibility that the transaction will not close or that the closing may be delayed, the anticipated synergies and benefits of the combined companies may not be achieved after closing, the combined operations may not be successfully integrated in a timely manner, if at all, general economic conditions in regions in which either company does business, and the possibility that Oracle or Phase Forward may be adversely affected by other economic, business, and/or competitive factors. Accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what impact they will have on the results of operations or financial condition of Oracle or Phase Forward. In addition, please refer to the documents that Oracle and Phase Forward, respectively, file with the Securities and Exchange Commission (the "SEC") on Forms 10-K, 10-Q and 8-K. These filings identify and address other important factors that could cause Oracle's and Phase Forward's respective financial and operational results to differ materially from those contained in the forward-looking statements set forth in this document. You are cautioned to not place undue reliance on forward-looking statements, which speak only as of the date of this document. Neither Oracle nor Phase Forward is under any duty to update any of the information in this document.