• SKIP TO CONTENT
  • SKIP NAVIGATION
  • Patient Resources
    • COVID-19 Patient Resource Center
    • Clinical Trials
    • Search Clinical Trials
    • Patient Notification System
    • What is Clinical Research?
    • Volunteering for a Clinical Trial
    • Understanding Informed Consent
    • Useful Resources
    • FDA Approved Drugs
  • Professional Resources
    • Research Center Profiles
    • Clinical Trial Listings
    • Market Research
    • FDA Approved Drugs
    • Training Guides
    • Books
    • eLearning
    • Events
    • Newsletters
    • White Papers
    • SOPs
    • eCFR and Guidances
  • White Papers
  • Trial Listings
  • Advertise
  • COVID-19
  • iConnect
  • Sign In
  • Create Account
  • Sign Out
  • My Account
Home » PRA strengthens new platform via acquisition of clinical development software firm in $2.5M deal

PRA strengthens new platform via acquisition of clinical development software firm in $2.5M deal

August 3, 2015
CenterWatch Staff

PRA Health Sciences, in its second-quarter earnings call, announced that it has acquired Value Health Solutions (VHS), a two-year-old clinical development software company, for $2.5 million.

The deal, formally announced at PRA’s quarterly earnings meeting, enables PRA to use VHS’ library of clinical trial management applications and modules that align with the CRO’s strategy to accelerate the development of its Predictivv platform, which was launched last month.

“With the increasingly higher level of complexity in conducting clinical trials, we think our approach will provide our clients with the transparency and proactive decision support to optimize the performance of their trials,” Colin Shannon, PRA’s chief executive officer, said in response to questions from analysts seeking more information about the VHS deal. “We also believe the platform allows us to take advantage of rapid changes in technology.”

PRA will conduct a pilot study to harmonize data, processes and people across a clinical trial. It also plans to launch several major applications that focus on clinical trial management, including patient recruitment, site selection and investigator engagement.

Shannon has said that PRA Health Sciences, which late last year launched a successful IPO (initial public offering) and changed its corporate name, has talked about modernizing the company’s entire IT backbone. The VHS deal, which provides application development to its Predictivv platform, follows a number of competitors that are investing in different branded technology platforms, including Infosario at Quintiles and Xcellerate at Covance.

“The platform approach means that with all the modern technologies, it just gives you ideas that you can adopt very, very quickly and rapidly,” said Shannon. “It doesn’t preclude us from using—even temporarily—some other pieces, but then taking advantage of new technologies that become available.”

In VHS, PRA Health Sciences has acquired a company whose founder, Neil Parthasarathy, chose to develop a library of clinical trial management applications and modules using cloud technology that aligns with PRA’s strategy.

On the VHS website, he wrote that the formation of the company began by attending a party with healthcare professionals where he learned that some physicians felt their job was more difficult, yet they all used smartphones and at least one application daily. One doctor said that in addition to taking part in continuous medical education (CME) programs, he now has to learn the paradigm of healthcare that includes healthcare policies/reforms and new HIPPA regulations. The doctor believes that, when comparing what he used to do with current practices, there is no difference in the quality of care. But many new systems and procedures, he said, now are required learning to fulfill their job duties.

“After a few rounds of deeper discussion with a few healthcare professionals, I came up with a finding that ‘connected health’ and ‘social health’ is a way to go,” said Parthasarathy.

The PRA acquisition also comes during a big push to hire more CRAs and other positions, Shannon said during the earnings call. He added that the CRO industry is “seeing some pressure on salaries and we’ve got to be careful with pricing.”

 

Email comments to Ronald at ronald.rosenberg@centerwatch.com. Follow @RonRCW

This article was reprinted from Volume 19, Issue 30, of CWWeekly, a leading clinical research industry newsletter providing expanded analysis on breaking news, study leads, trial results and more. Subscribe »

Upcoming Events

  • 16Feb

    Fundamentals of FDA Inspection Management: Reduce Anxiety, Increase Inspection Success

  • 21May

    WCG MAGI Clinical Research Conference – 2023 East

Featured Products

  • Spreadsheet Validation: Tools and Techniques to Make Data in Excel Compliant

    Spreadsheet Validation: Tools and Techniques to Make Data in Excel Compliant

  • Surviving an FDA GCP Inspection

    Surviving an FDA GCP Inspection: Resources for Investigators, Sponsors, CROs and IRBs

Featured Stories

  • Revamp-360x240.png

    Califf Calls for Major Evidence Generation Revamp, Experts’ Opinions Differ

  • AskTheExpertsGreen-360x240.png

    Ask the Experts: Managing Investigational Products

  • SurveywBlueBackground-360x240.png

    Survey Outlines Site Challenges, Successes on Diversity

  • PatientCentricity-360x240.png

    Site Spotlight: DM Clinical Shows Patient Centricity Doesn’t Have to Break the Bank

Standard Operating Procedures for Risk-Based Monitoring of Clinical Trials

The information you need to adapt your monitoring plan to changing times.

Learn More Here
  • About Us
  • Contact Us
  • Privacy Policy
  • Do Not Sell or Share My Data

Footer Logo

300 N. Washington St., Suite 200, Falls Church, VA 22046, USA

Phone 617.948.5100 – Toll free 866.219.3440

Copyright © 2023. All Rights Reserved. Design, CMS, Hosting & Web Development :: ePublishing