CorEvitas offers regulatory-grade, real-world evidence solutions to biotechnology and pharmaceutical companies with objective data and clinical insights in order to enhance patient care and clinical outcomes
CorEvitas to be acquired by Thermo Fisher Scientific. (Credit: Thermo Fisher Scientific Inc.)
Thermo Fisher Scientific has agreed to acquire CorEvitas, a science-led, real-world data intelligence company, from Audax Private Equity for $912.5m in an all-cash deal.
Based in Massachusetts, CorEvitas offers biotechnology and pharmaceutical companies with regulatory-grade, real-world evidence solutions. The company’s objective data and clinical insights are said to be used for enhancing patient care and clinical outcomes.
Upon completion of the deal, CorEvitas will be added to the laboratory products and biopharma services segment of Thermo Fisher.
Thermo Fisher chairman, president, and CEO Marc Casper said: “The addition of CorEvitas will further advance our capabilities to better serve our pharma and biotech customers and strengthen our value proposition. CorEvitas is an excellent strategic fit for Thermo Fisher and highly complementary to PPD, our leading clinical research business.
“There is strong market demand for real-world evidence which improves decision making and reduces the time and cost associated with drug development. As the trusted partner, we continue to further differentiate our capabilities to help our customers accelerate innovation and drive productivity.”
Currently, CorEvitas manages 12 registries. These include nine autoimmune and inflammatory syndicated registries.
With more than 400 investigator sites and over 100,000 longitudinally tracked patients, the company’s multi-therapeutic data intelligence platform scales and produces multiple clinical registries in various therapeutic domains.
CorEvitas chairman and CEO Raymond Hill said: “This is an exciting next step for CorEvitas. Thermo Fisher shares our science-led and mission-driven culture and commitment to driving innovation and improving patient outcomes.
“I am confident that becoming part of a global leader with deep life science expertise, commercial reach, international presence, and proven operational excellence will provide significant opportunities for both our customers and our colleagues.”
The acquisition is subject to customary closing requirements, including regulatory approvals, and is anticipated to close by the end of this year.