Piramal Enterprises' information management subsidiary, Decision Resources Group, a research and advisory firm focusing on high-value healthcare insights and analytics, has acquired Relay Technology Management, a data analytics company focused on the life sciences industry.
The acquisition of Cambridge, Mass.-based Relay by Burlington, Mass.-based Decision Resources Group is a strategic step in Decision Resources Group's effort to supply its clients with premier data analytics through delivery systems that most fit their needs.
Jim Lang, CEO of Decision Resources Group, said, "This important acquisition brings us three things: One, exciting products for early stage pipeline analysis, drug target evaluation and KOL identification; two, a world-class data and analytics leadership team; and three, proprietary natural language processing technology, healthcare ontology and scalable data and insight visualization platform to allow us to introduce new products and services much more quickly to our clients and to enhance our current high-value offerings."
Relay's concentration in the life sciences industry means they are familiar with the various disparate databases and information sources that Decision Resources Group's pharmaceutical and medtech clients work with on a regular basis. They offer a way to organize and synthesize these data sets to service a multitude of organizational users.
"With Relay's ability to make sense of disparate structured and unstructured data, we can then layer on the 'so-what' insights from our premier analysts to add value to those data views," said Lang.
"We look forward to applying our next-generation, interactive data analytics platform to Decision Resources Group's strong multidimensional offering known for top-level analysis and insight," said Brigham Hyde, CEO of Relay Technology Management. "Together, Decision Resources Group and Relay will deliver the type of data-driven solutions and predictive analytics that is critical to the current competitive environment of today's biopharma and device organizations."
Relay will move to Decision Resources Group's corporate office location in Burlington, Mass.