Oracle has entered into an agreement to acquire ClearTrial, which develops cloud-based clinical trial operations applications. The deal is expected to close in the first half of 2012. The two companies did not disclose the financial terms of the deal.
ClearTrial, a private company founded in 2004 and headquartered in the United States, creates applications that can plan, source and track clinical projects and financial performance. ClearTrial’s customers include biopharmaceutical and medical device companies such as Abbott, Baxter, Merck, AstraZeneca, Genentech, Sanofi, Allergan, Astellas and Taked.
The purchase of ClearTrial will add cloud-based clinical trial operations and analytics applications to the Oracle Health Sciences suite. Oracle seeks to help customers streamline the clinical development process and bring therapies to market with greater predictability and at lower cost.
With the ClearTrial deal, Oracle expects to help biopharmaceutical and medical device companies 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.
“Biopharmaceutical, medical device and diagnostic companies, as well as contract research organizations, are facing increasing pressure to deliver clinical development projects on time and within budget,” said Neil de Crescenzo, SVP and GM of Oracle Health Sciences, in a statement.
ClearTrial CEO Mike Soenen noted that joining Oracle is the next logical step to better serve customers and extend the reach of its CTO applications.