Thermo Fisher is acquiring CorEvitas, a provider of U.S. based regulatory-grade, real-world evidence for approved medical treatments and therapies, mainly for immune diseases, from Audax Private Equity for $912.5 million in cash.
“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,” said Marc N. Casper, chairman, president and chief executive officer of Thermo Fisher.
Real-world evidence (RWE) uses patient health outcomes data gathered through routine clinical care.The use of this type of data has risen substantially. For example, FDA has increasingly used real-world data (RWD) and real-world evidence (RWE) to monitor and evaluate the post market safety of approved drugs.
In May, Thermo announced it would spend $40-$50 billion on “disciplined” mergers and acquisitions.
Based in Waltham, Massachusetts, CorEvitas provides regulatory-grade, real-world evidence solutions to pharmaceutical and biotechnology companies with objective data and clinical insights to improve patient care and clinical outcomes.
CorEvitas manages 12 registries, including nine focused on autoimmune and inflammatory diseases. Its multi-therapeutic data intelligence platform gathers structured patient clinical data spanning more than 400 investigator sites and over 100,000 patients followed longitudinally. It has been a partner to pharma and biotech customers for more than 20 years.
The registries, include ones on: Rheumatoid arthritis, multiple sclerosis, psoriasis, atopic dermatitis, neuromyelitis optica spectrum disorder (NMOSCD), inflammatory bowel disease, spondylarthritis, and alopecia areata.
“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. We look forward to welcoming CorEvitas to Thermo Fisher,” added Casper.
The transaction, which is expected to be completed by the end of 2023, is subject to customary closing conditions, including regulatory approvals. Upon completion, CorEvitas will become part of Thermo Fisher’s Laboratory Products and Biopharma Services segment.
Thermo Fisher Scientific Inc. includes Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, Unity Lab Services, Patheon and PPD.
CorEvitas operates 12 major autoimmune, inflammatory and pregnancy registries across the U.S., Canada, and Japan, collecting data from over 400 participating investigator sites in both academic as well as community-based settings of care, including collection of biosamples linked to the deep clinical data.
Thermo Fisher is acquiring CorEvitas, a provider of U.S. based regulatory-grade, real-world evidence for approved medical treatments and therapies, mainly for immune diseases, from Audax Private Equity for $912.5 million in cash.
“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,” said Marc N. Casper, chairman, president and chief executive officer of Thermo Fisher.
Real-world evidence uses patient health outcomes data gathered through routine clinical care.The use of this type of data has risen substantially. For example, FDA has increasingly used real-world data (RWD) and real-world evidence (RWE) to monitor and evaluate the post market safety of approved drugs.
In May, Thermo announced it would spend $40–$50 billion on “disciplined” mergers and acquisitions.
Based in Waltham, Massachusetts, CorEvitas provides regulatory-grade, real-world evidence solutions to pharmaceutical and biotechnology companies with objective data and clinical insights to improve patient care and clinical outcomes.
CorEvitas manages 12 registries, including nine focused on autoimmune and inflammatory diseases. Its multi-therapeutic data intelligence platform gathers structured patient clinical data spanning more than 400 investigator sites and over 100,000 patients followed longitudinally. It has been a partner to pharma and biotech customers for more than 20 years.
The registries, include ones on: Rheumatoid arthritis, multiple sclerosis, psoriasis, atopic dermatitis, neuromyelitis optica spectrum disorder (NMOSCD), inflammatory bowel disease, spondylarthritis, and alopecia areata.
“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. We look forward to welcoming CorEvitas to Thermo Fisher,” added Casper.
The transaction, which is expected to be completed by the end of 2023, is subject to customary closing conditions, including regulatory approvals. Upon completion, CorEvitas will become part of Thermo Fisher’s Laboratory Products and Biopharma Services segment.
Thermo Fisher Scientific Inc. includes Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, Unity Lab Services, Patheon and PPD.
CorEvitas operates 12 major autoimmune, inflammatory and pregnancy registries across the U.S., Canada, and Japan, collecting data from over 400 participating investigator sites in both academic as well as community-based settings of care, including collection of biosamples linked to the deep clinical data.
