Oracle acquires Phase Forward

The Oracle spring shopping spree continued with Phase Forward Inc announcing that it will be acquired by the software giant. Phase Forward, which provides data management solutions for clinical trials and drug safety, will cost Oracle $685, or $17 per share. The deal is expected to close by June 2010.

This new move fits into Oracle’s longterm plan to provide mission-critical applications to all key industries. This move, the company’s spokespeople said, will bolster Oracle’s health software offering.

Bob Weiler, CEO of Phase Forward, said: “Deployed in over 10,000 clinical trials, Phase Forward’s software has been used successfully by hundreds of customers to accelerate innovation in drug development and patient care delivery.

“We look forward to combining our complementary wealth of experience with Oracle Health Sciences.”

The acquisition is widely anticipated to enable researchers, physicians, clinical development professionals, regulators to capture, contribute, access and share data better.

Neil de Crescenzo, senior vice president of Oracle Health Services, said: “The life sciences and healthcare industries are converging as they seek to control costs while accelerating patient-centered innovation.

"Phase Forward brings outstanding products and employees with significant expertise to Oracle that will help enable the delivery of personalized medicine and value-based healthcare.”