Oracle Press Release - http://www.oracle.com/us/corporate/press/018053_EN
Adds Advanced Drug Safety and Risk Management Applications to Extend Oracle’s Leadership in Health Sciences
Redwood Shores, CA – March 23, 2009
Oracle today announced that it has agreed to acquire Relsys International, Inc. ("Relsys"), a leading provider of drug safety and risk management solutions with advanced analytics for the health sciences industry.
Relsys’ best-in-class solutions support adverse event reporting, risk management, and data analysis for pharmaceutical, biotechnology, contract research organizations and medical device companies worldwide.
The combination of Oracle and Relsys is expected to deliver the only suite of software applications that supports end-to-end drug safety processes across clinical development, post-market surveillance and patient care, and is expected to extend Oracle’s leadership in providing drug safety applications to the health sciences industry.
The addition of Relsys will bring significant domain knowledge and experience as part of Oracle’s Health Sciences Global Business Unit, and is consistent with Oracle’s strategy to provide mission-critical applications for key industries.
The transaction is subject to customary closing conditions and is expected to close in the first half of calendar year 2009.
Until the deal closes, each company will continue to operate independently.
Financial details of the transaction were not disclosed.
"The health sciences industry is increasing investments in software that provide greater transparency into drug safety and help improve the overall safety of therapies," said Neil de Crescenzo, Senior Vice President and General Manager, Oracle Health Sciences. "With the addition of Relsys, Oracle is uniquely positioned to help our customers improve drug safety by delivering a comprehensive software solution that enables our vision of integrated safety and risk management supported by advanced analytics."
"Identifying safety issues earlier in the development process can significantly reduce the costs and risks associated with bringing drugs and devices to market," said Dave Bajaj, President & CEO, Relsys. "Industry leaders trust Relsys’ solutions to help them capture these benefits. We look forward to joining Oracle and helping provide the health sciences industry with the most complete, open and integrated suite of enterprise software."
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Oracle Public Relations
Oracle Public Relations