Phase Forward acquires Covance’s IVRS/IWRS business units

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Reviewed

Aug 21 2009

Phase Forward (NASDAQ: PFWD), a leading provider of data management solutions for clinical trials and drug safety, today announced that it has completed its previously announced acquisition of the Interactive Voice and Web Response Services (IVRS/IWRS) business of Covance Inc. (NYSE: CVD). Phase Forward purchased the Covance business unit for $10 million in cash. As part of the transaction, Phase Forward and Covance have entered into a multi-year marketing agreement to provide Phase Forward’s market-leading InForm™ electronic data capture (EDC) solution and Clarix™ Interactive Response Technology (IRT) application as the preferred EDC and IRT solutions to Covance clients.

Originally announced July 15, 2009, the acquisition adds further momentum to Phase Forward’s IRT efforts and solidifies the strategic relationship between the two organizations.

Source:

http://www.phaseforward.com/

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Tags: Cancer, Technology

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