Redwood Shores, Calif.—Mar 29, 2012
Oracle today announced that it has entered into an agreement to acquire ClearTrial, a leading provider of cloud-based Clinical Trial Operations (CTO) applications that make the planning, sourcing, and tracking of clinical projects and financial performance faster and more accurate.
ClearTrial’s activity-based costing solutions use embedded intelligence based on deep industry expertise to help life sciences companies manage the rising costs and increasing complexities of bringing new therapies to market.
The combination integrates best-in-class functionality from ClearTrial with leading clinical trial execution and analytics capabilities from Oracle, creating the most comprehensive closed-loop clinical trial management offering from planning to payment.
Biopharmaceutical and medical device companies are expected to significantly improve their ability to manage clinical trials across geographies, outsourcers, therapeutic areas and trial phases resulting in a better return on their R&D capital investments.
Terms of the agreement were not disclosed. More information on this announcement can be found at http://www.oracle.com/cleartrial.
“Biopharmaceutical, medical device and diagnostic companies, as well as contract research organizations (CROs), are facing increasing pressure to deliver clinical development projects on time and within budget,” said Neil de Crescenzo, senior vice president and general manager, Oracle Health Sciences. “Adding ClearTrial to the Oracle Health Sciences Cloud will help our customers streamline the clinical development process and help them bring therapies to market with greater predictability and at lower costs.”
"Clinical trials are being planned and managed with unprecedented rigor and specificity, given the industry’s trend toward globalization of R&D and the continued growth in outsourcing," said Mike Soenen, chief executive officer, ClearTrial. “As the leading provider of technology and applications for the life sciences and healthcare industries, Oracle is the next logical step in our ability to best service our customers and extend our solution’s reach.”
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