Dassault Systèmes acquires Medidata Solutions
On June 12, Dassault Systèmes and Medidata Solutions, Inc. announced the signing of a definitive agreement to acquire Medidata by Dassault Systèmes in an all-cash transaction expected to close in the final quarter of 2019.
The agreement based upon a price of $92.25 per Medidata share, representing an enterprise value of $5.8 billion. Medidata's fiscal year ended December 31, 2018 with revenues of $636 million.
(picture Dassault Systèmes) With the acquisition of Medidata and its clinical and commercial solutions, Dassault Systèmes strengthens its position as a science company. Dassault Systèmes provides the life sciences industry with a platform that links research and discovery, development, clinical testing, manufacturing and commercialization of new therapies and health technologies through an end-to-end approach.
Bernard Charlès, Vice Chairman and CEO of Dassault Systèmes, comments: "Medidata's leadership in clinical trials complements our life sciences solutions on the collaborative 3DEXPERIENCE platform. Medidata's recent addition of empirical information and analytics, combined with its ability to model and simulate, demonstrates how the virtual world will stimulate the next generation of patient-focused therapeutics. We are now well positioned to drive the transformation of the life sciences industry and to demonstrate the purpose of our company: The harmonization of product, nature and life".
According to the press release Medidata's clinical expertise and cloud-based solutions enable the development and commercialization of smarter therapies for 1,300 customers worldwide, including pharmaceutical and biotech companies, contract research organizations (CROs) and clinics. Medidata's solutions are said to help make decisions, accelerate the execution and monitoring of processes, minimize operational risk and reduce costs. 13 of the 15 best-selling medicines in 2018 were manufactured using Medidata technology. 18 of the top 25 pharmaceutical companies and 9 of the top 10 CROs are Medidata customers.
Medidata was founded in 1999 and is headquartered in New York City. The company has 16 offices in 7 countries, including the United States, Japan, Korea and the United Kingdom, and employs 2,800 people and contractors. The acquisition is expected to close in the final quarter of 2019, subject to regulatory approvals and the approval of the majority of Medidata's shareholders.