Life sciences analytics providers combine in $195m deal

Clinical technology company Medidata has bought Shyft Analytics, a cloud data analytics platform, for $195 million.

Formed in 1999, New-York based Medidata provides applications and analytics to researchers and clinicians to make clinical trials more efficient. Shyft, based in Boston, designs products specifically for the biotech, pharma and medical devices industries.

The companies announced the deal yesterday, June 13.

Tarek Sherif, chairman and CEO of Medidata, said the companies will power customers’ “digital transformation” with artificial intelligence and analytics to reduce risk “and ultimately help patients”.

The companies said their tools will enhance drug discovery and development by allowing customers to demonstrate efficacy and safety, obtain regulatory approval and achieve “peak revenue” faster.

“Shyft and Medidata share a common vision to transform how life science companies harness the value of data to advance enterprise decision-making and patient outcomes,” said Shyft CEO and founder Zack King. “We are thrilled to be joining forces with Medidata to further execute our mission to advance healthcare through analytics.”

Both companies’ boards of directors have unanimously approved the deal, which is expected to close in the second quarter of 2018.

The agreement is the third life sciences merger and acquisition that LSIPR has reported on this month, after German life sciences company Bayer completed the $66 billion buyout of agricultural corporation Monsanto, and GSK confirmed that its $13 billion buyout of Novartis from the companies’ consumer healthcare joint venture had been completed.

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