Oracle has entered into an agreement to acquire ClearTrial, a well-known provider of cloud-based Clinical Trial Operations (CTO) applications.

The combination integrates ClearTrial’s applications that make planning, sourcing and tracking of clinical projects and financial performance faster and more accurate. Together with existing Oracle products, this will create a comprehensive closed-loop clinical trial management offering from planning to payment.

Oracle predicts the acquisition will significantly improve biopharmaceutical and medical device companies’ 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.