DataCeutics is in the clinical data management space and offers tools and services for managing clinical data for biotech and pharmaceutical companies.
With the clinical business market expanding, Chennai-based TAKE Solutions has acquired DataCeutics to augment its operations.
The deal is valued at about Rs 318 crore and the acquisition is expected drive the clinical business for the company, which is expected to reach $32.9 billion by 2020 as per estimates, the company said in a statement while announcing its quarterly results on February 13.
TAKE Solutions registered a net profit of Rs 36.4 crore for the quarter ended December 31, 2018, down 13.3 percent as opposed to the comparable quarter in 2017. The company’s revenue stood at Rs 521.64 crore, up 27.8 percent at Rs 408.02 crore for the same quarter last year.
The company, which is in the lifesciences and supply chain space, has been investing in inorganic growth. Apart from DataCeutics, the company acquired KAI Research, a clinical research organisation and health research company in the life sciences industry, for $27 million.
DataCeutics is in the clinical data management space and offers tools and services for managing clinical data for biotech and pharmaceutical companies. This includes providing reports based on pharmaceutical data for FDA admissions, statistical programming and clinical data management.
KAI and DataCeutics would complement TAKE Solutions existing services. They also strengthen the company’s service offerings in Europe and Asia.
While KAI’s expertise strengthens TAKE’s therapeutic expertise on mental health, musculoskeletal diseases and medical devices, DataCeutics complements TAKE Solution’s in-house artificial intelligence driven products and services to improve outcomes for clients across safety, quality, compliance, cycle times and cost.Ram Yeleswarapu, President and CEO, TAKE Solutions said in the statement, “DataCeutics strengthens our capabilities in data sciences and FSP / BPO services and widens our therapeutic expertise in cardiology, oncology, pulmonology and Infectious diseases. The addition of these competencies translates to business expansion in North America, Europe and Asian markets.”