Thermo Fisher Completes Acquisition of Data Intelligence Company CorEvitas
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By LabMedica International staff writers Posted on 16 Aug 2023 |
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Image: CorEvitas will become part of Thermo Fisher’s Laboratory Products and Biopharma Services segment (Photo courtesy of Thermo Fisher)
Thermo Fisher Scientific Inc. (Waltham, MA; USA) has completed the acquisition of CorEvitas, LLC (Waltham, MA; USA), a provider of regulatory-grade, real-world evidence for approved medical treatments and therapies, for USD 912.5 million in cash. The announcement of this acquisition was initially made on July 6, 2023. Following the completion of the acquisition, CorEvitas will be incorporated into Thermo Fisher's Laboratory Products and Biopharma Services division.
Real-world evidence involves gathering and analyzing data on patient healthcare utilization and outcomes collected from regular clinical practice. This area has been experiencing rapid growth. Both pharmaceutical and biotech companies, along with regulatory authorities, are showing increased interest in monitoring the safety of approved treatments. They are also focusing on evaluating the effectiveness and value of these treatments after their approval.
CorEvitas offers regulatory-grade, real-world evidence solutions to pharmaceutical and biotech companies with objective data and clinical insights aimed at enhancing patient care and clinical outcomes. CorEvitas manages a total of 12 registries, including nine autoimmune and inflammatory syndicated registries. The company has created a multi-therapeutic data intelligence platform that can build and scale several clinical registries in specific therapeutic areas. This platform collects structured clinical data from over 400 research sites and tracks more than 100,000 patients over time.
“We are very excited to welcome our new CorEvitas colleagues to Thermo Fisher,” said Marc N. Casper, chairman, president and chief executive officer of Thermo Fisher. “CorEvitas expands our clinical research business with highly complementary real-world evidence solutions, which is an increasingly important area and will help to enhance decision-making as well as the time and cost of drug development. We are excited by the opportunity to further accelerate innovation and advance productivity for our pharma and biotech customers in their work to deliver new medicines and therapeutics to benefit patients.”
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