NEW YORK—Medidata, an international provider of cloud-based solutions for clinical research, has acquired Intelemage, a global leader in managing and transferring medical images and clinical data. The deal, which has an as-yet-undisclosed purchase price, is expected to be finalized by the end of the second quarter of this year.
By integrating Intelemage’s sophisticated capacity for image management and sharing into their industry-leading software-as-a-service clinical trial platform, Medidata says it will now be able to offer customers an end-to-end solution to capture, manage and analyze medical imaging data.
“The sophisticated tools developed by Intelemage allow us to strengthen our offerings in medical imaging for clinical trials, oncology and biotech customers,” says Mike Capone, the chief operating officer of Medidata.
The merged technologies will facilitate combining raw data from image files into the development process and creating models that can be carried forward into the commercial realm. Through the integration of clinical data, genomic data and mHealth data, the combined technologies will create models that will create new, more easily shared analysis to help fuel medical breakthroughs.
Medical imagery has emerged as a critical component in successful clinical research and collaboration. Equipping Medidata’s cloud-based solutions with the addition of Intelemage’s imaging technology will “change the game in the clinical trial space” by providing not only more data points, but more valuable data, a spokesperson for Medidata told DDNews, adding that the combined libraries will provide the industry with more than 712,211,200 data points annually.
The integration of Intelemage’s technology also gives Medidata the ability to accelerate growth with both medical device and pharmaceutical companies by delivering enhanced medical imaging data and analytics, supporting their goal of being a $1-billion revenue company.
Medidata sought to bolster its practical offerings, recognizing that many core clients were expanding their reliance on shared imagery for clinical breakthroughs. The two companies had worked with shared clientele on an ad-hoc basis before the sale, but formalized their relationship when acquisition talks began.
The added technology allows Medidata new incremental revenue with its existing client base, while also opening new markets in the commercial space to allow for faster company growth. Coupled with aggressive R&D investment, this critical tool underpins Medidata’s effort to become a single-source solution for their clinical customers.
Intelemage was founded in 2007, and quickly became a global player in image file sharing. Utilized in more than 5,000 locations in 85 countries, Intelemage serves 14 of the world’s top 15 medical device companies. The core technology allows collaboration between medical device and pharmaceutical companies, core labs, CROs, hospitals and physicians.
Medidata leads global cloud-based solutions for clinical research in life sciences, transforming clinical development through advanced applications and intelligent data analytics. Serving more than 90 percent of the world’s top 25 pharmaceutical companies, its technology facilitates the design, planning, evaluation, management and reporting of cutting-edge scientific advances. The Medidata platform has supported more than 11,000 clinical studies, 400,000 investigational sites and 2.8 million trial volunteers.
“Using Intelemage’s medical imaging technology has given us the ability to seamlessly capture data, streamline workflows and transfer datasets securely, compliantly and reliably,” states Nicholas Wharton, co-founder and senior vice president of Medical Metrics, a leading provider of core lab services for global clinical trials. The data capture combined with the cloud-based clinical trial tools provides a salient example of how the combined technologies will better meet client need.
Medidata will retain Intelemage’s global team, providing strategic synergies to the existing talent and enabling quick and efficient growth and rollout. Existing clients will have one-stop access to broad new capacity, while new sales will begin in new sectors of the commercial market. A formal launch and comprehensive marketing campaign will commence in June.
“Intelemage adds another dimension to the compelling value proposition that is making [our cloud] the industry standard. We are excited to enter this fast-growing market with next-generation medical imaging capabilities, which—combined with the power of our platform—improve the design, speed, efficiency and analytical rigor of clinical trials, helping to get innovative treatments to patients faster,” asserts Tarek Sharif, Medidata’s CEO.
In other recent Medidata news, the company notes that April Mulroney, the managing director of Medidata Payments, has been named a 2016 industry “Rising Star” by the Healthcare Businesswomen’s Association. Mulroney is helping to transform the clinical trial site reimbursement process and eliminate a key operational pain point in the drug development process. Under her leadership, the Medidata Payments team has created a tool that calculates trial costs based on data captured throughout a clinical study and automatically triggers and disburses site payment in real time. With its seamless integration with Medidata’s management system (Medidata Rave), coupled with the addition of the Intelemage technology, Medidata will enable quicker study setup, better cash flow management and flexible, precise calculation trigger options and unprecedented image access across the industry, according to the company.