MedAvante, ProPhase acquisition to transform CNS market, says WCG CEO
With its latest acquisition, terms of which were not disclosed, the clinical services organization gains access to the companies’ services and technology solutions, including MedAvante’s electronic clinical outcome assessment (eCOA) platform, Virgil and ProPhase’s measurement-related solutions.
Donald Deieso, PhD, chairman and chief executive officer of WIRB-Copernicus Group, told Outsourcing-Pharma.com the company looks to partner with companies that share its vision of increasing efficiencies in the clinical trial process, “while ensuring the risks of progress never outweigh the value of human life.”
“With the addition of industry leaders, ProPhase and MedAvante, WCG will become the most powerful force in the standardized CNS assessments market with services and tools to improve signal detection,” he said, adding that it will also allow the company “to capitalize on the continued investment growth in neurology research.”
MedAvante and Prophase will be consolidated into one organization and will operate independently from the other companies in the group.
Following the completion of the transaction, Dr. Jeffrey Litwin will be named CEO of the combined organization.
“At this time, both MedAvante and ProPhase will operate business as usual providing the same level of quality customer service and expertise that the industry expects,” Deieso explained.
“With the support of WCG, the leadership of both these organizations will bring together the best scientific, technological, and operational expertise to transform the CNS market.”
