Oracle To Buy Phase Forward For $685M: Step To Accelerate Innovation In Drug Development And Patient Care Delivery

Posted On: Monday, April 19, 2010
Label: ,

oracle to buy phase forward

Oracle Corp., the second largest software manufacturer in the United States, has agreed to acquire Phase Forward Inc., Developer of clinical trials management software. Software runs on multiple platforms. Products are sold to the pharmaceutical, biotech and medical industries. This company was capitalized by venture capital. Oracle announced the deal, Saturday (17/4/2010).

Management of Oracle said they spend 685 million U.S. dollars for purposes of the acquisition phase Forward. Oracle pays 17 dollars per share in cash to shareholders of Phase Forward. The price was 30 percent higher than the price in the stock exchange floor of Phase Forward in the U.S. at the close on Thursday, valued at 13 dollars per share.

Bob Weiler, Chairman, President & CEO of Phase Forward, said, "Deployed in over 10,000 clinical trials, Phase Forward's software has been used successfully by hundreds of customers to accelerate innovation in drug development and patient care delivery. We look forward to combining our complementary wealth of experience with Oracle Health Sciences."

Phase Forward management and employees are expected to join Oracle as part of the Oracle Health Sciences Global Business Unit. The combination is expected to enable researchers, clinical development professionals, physicians, regulators and patients to more effectively and securely capture, contribute, access and share data. The acquisition of Phase Forward is consistent with Oracle's strategy to provide mission-critical applications for key industries.

"The life sciences and healthcare industries are converging as they seek to control costs while accelerating patient-centered innovation," said Neil de Crescenzo, Senior Vice President and General Manager, Oracle Health Sciences. "Phase Forward brings outstanding products and employees with significant expertise to Oracle that will help enable the delivery of personalized medicine and value-based healthcare."

On April 27th, Phase Forward will issue its financial results for the first quarter 2010, ended March 31, 2010. As a result of the company's announced acquisition by Oracle Corporation, the company no longer plans on hosting a conference call after the market close on that day.

Related Posts By Categories



Apple iPhone 4Gs Logo
Apple iPhone 4G Launch June 22
When Apple Inc. launches its iPhone 4G? This question is so prominent recently. The loyal users of Apple products are very curious on rumours says that Apple iPhone 4G/HD will soon be launched.
Google Chrome Browser
Google Hides HTTP In Chrome
Chrome's URL box will no longer display the http://, so users could types the site address directly without started with http://. Besides the problem of space, the inclusion of http:// often considered as a problem.
facebook Logo
Facebook Unveils Its Safety Center
In order to combat the "cyber predators" activities that targeting children and young girls as their victims, Facebook recently has unveiled the Facebook Safety Center.
Opera
Opera Acquires FastMail
In its press release recently, Opera said that the acquisition will enable Opera to expand its current messaging product portfolio and deliver cross-platform messaging to a wide range of devices, including computers, mobile phones, TVs and gaming consoles.







HP Compaq Laptop
HP Compaq Airlife 100
Compaq AirLife 100 launches with an excellent specifications that features Bluetooth EDR, 802.11b/g WiFi, dual-band HSDPA 3G and dual-band GSM/GPRS/Edge connectivity.
Apple MacBook Pro
MacBook Pro MC375LL/A
Apple Inc says MacBook Pro MC375LL/A could work longer away without to worry about the battery will be runs out, because it has an automatic graphics switching.
Dell Laptop
Dell Latitude E6410 ATG
Dell Inc., one of the world's top supplier of Desktop and Notebook PC announces that the Latitude E-Family with Intel Core i5 and Core i7 processors has already launched.