Global contract research organization PPD, headquartered in Wilmington, has entered into an agreement to acquire data analytics and research company Evidera, according to an announcement Tuesday.
A news release said the acquisition of Evidera, described in the release as "a leading provider of evidence-based solutions to demonstrate the real-world effectiveness and value of biopharmaceutical products," will strengthen the peri- and post-approval capabilities of PPD.
The deal "demonstrates PPD’s commitment to strategic investments that enable our clients to advance the generation of real-world evidence to more efficiently deliver life-changing therapies that improve health,” said David Simmons, chairman and CEO of PPD, in the release. “We are dedicated to providing our clients a superior integration of scientific knowledge, technology and high-quality delivery to maximize the productivity of their R&D investments and to accelerate patient access to life-changing therapies.”
The financial details of the acquisition were not disclosed.
Evidera, which has U.S. headquarters in Bethesda, Maryland, and European headquarters in London, will become a wholly owned subsidiary of PPD, delivering peri- and post-approval studies, health economics, outcomes research, epidemiology and market access consulting, the release and Evidera's website said. Evidera will strengthen PPD’s existing offerings, according to the announcement, by providing integrated solutions, global scale and comprehensive scope to address the growing demand for evidence from regulators, payers and health technology assessment agencies.
Jon Williams, who will continue to lead Evidera, said in the release, “This acquisition brings together two leaders in their respective sectors. PPD’s unparalleled reputation for quality makes them an ideal match for Evidera, and joining the PPD family expands our global footprint and operational capabilities. The combination of Evidera and PPD will provide customers with a seamless and unmatched set of solutions across the product life cycle.”
Evidera was created in 2013 under the ownership of Symphony Technology Group, following the acquisition of long-standing health economics, outcomes research, market access, epidemiology and data analytics practices.
PPD’s acquisition of Evidera is subject to certain closing conditions, including U.S. anti-trust clearance, and is expected to close in the third quarter of 2016, Tuesday's release said. Evidera will continue to operate its office locations in Europe and in North America, which include Boston; Harrisburg, Pennsylvania; San Francisco; Seattle; and Montreal, according to the release and Evidera's website.
