Precision for Medicine, a Bethesda, Md.- based specialized services company supporting next-generation approaches to drug development and commercialization, has acquired Precision Health Economics (PHE), a health economics consultancy and analytics firm. PHE leverages the experience of policy analysts, economists, clinicians and academics to advance research on the most complex healthcare questions. Life sciences companies and policymakers worldwide turn to PHE to shape strategy, inform key healthcare decisions, and produce effective changes in policy through innovative research.

PHE, headquartered in Los Angeles, was founded by Drs. Dana Goldman, Darius Lakdawalla and Tomas Philipson, professors at the University of Southern California and the University of Chicago. PHE's network of academic experts includes numerous nationally and globally recognized scholars in health economics, medicine and health policy. The team also includes former leaders at the Centers for Medicare and Medicaid Services, the FDA, the Department of the Treasury, the Congressional Budget Office and the President's Council of Economic Advisers.

Ethan Leder, chairman, Precision for Medicine, said, "Adding PHE's differentiated capabilities fortifies our approach to helping life sciences companies deliver more effective treatments to patients in the era of precision medicine by integrating research, analytics, science and communications. The PHE management team will remain in place and will continue to focus on their customers in the pharmaceutical and life sciences markets."

"In the age of personalized medicine, it's vitally important to understand not only how value derives from tailored treatment, but also how to navigate the data, analytics and policy challenges associated with precision medicine," said Goldman of PHE.

"This acquisition provides us access to a pool of talent, knowledge and expertise in the healthcare payer marketplace that will provide our clients deeper insights into the scope and scale of economic evidence required to shape future policy decisions," said Glenn Bilawsky, who will become president of PHE.

This acquisition will expand the existing health economics and outcomes research (HEOR) capabilities of Precision for Value, a business unit of Precision for Medicine. Precision for Value helps pharmaceutical and life sciences companies demonstrate and communicate the value of innovative medications. The company's clients achieve an in-depth understanding of the specific drivers and barriers that impact market access. The acquisition extends the leadership in HEOR with a focus on innovative approaches to evidence generation.