Syneos Health recently announced a strategic partnership with the clinical trial technology company, uMotif. The collaboration will help accelerate clinical trials and bring new therapies to patients faster through a more efficient, end-to-end digital platform. This will include robust Electronic Clinical Outcome Assessment (eCOA) and Electronic Patient-Reported Outcomes (ePRO) capabilities.
Syneos Health is constantly evolving its solutions to address unmet customer, site and patient needs. The partnership with uMotif is set to deliver an integrated, best-in-class, patient-facing solution to bring clinical trials closer to the patient.
News in Detail
Under the terms of the partnership, SYNH customers will receive uMotif’s eCOA and ePRO services. In addition, the companies will develop an exclusive patient-centric platform to deliver seamless, integrated customer solutions including patient identification, recruitment, eConsent, eDiary, patient engagement and retention and payments.
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Combined with the company’s StudyKIK recruitment technology platform, Syneos Health will build a single application to help drive better engagement, compliance and retention with patients and reduce the site burden.
The latest development demonstrates SYNH’s continued investments in technology and data solutions that accelerate clinical development, integrating the voice of the site and patient to optimize performance for biopharma customers. The partnership with uMotif builds organically as both companies share a forward-thinking approach to technology and are committed to the site and patient experience.
Industry Prospects Per a Research report, the global eClinical solution market was valued at $7.89 billion in 2022 and is expected to witness a CAGR of 13.9% by 2030. Recent Highlights
Earlier in May 2023, Syneos Health entered into a definitive agreement to be acquired by a private investment consortium in an all-cash transaction of approximately $7.1 billion. The firm affiliates include Elliott Investment Management, Patient Square Capital and Veritas Capital. The purchase price represents a 24% premium to SYNH’s unaffected closing stock price on Feb 13, 2023, the last trading day before media speculation regarding the company. The transaction is expected to accelerate SYNH’s growth strategy, enhance customer delivery and evolve toward a tech-enabled future.
In March, Syneos Health announced the launch of the Medical Affairs Digital Amplifier, a program designed to drive smarter and more effective scientific exchange. The development of this unique digital asset underscores SYNH’s continued focus on Medical Affairs, an increasingly critical component of successful clinical development.
The company also entered into a strategic partnership with KX, the maker of kdb. The collaboration will leverage data analytics and AI to accelerate clinical trial execution.
In the past six months, SYNH shares have increased 17.1% compared with the
industry’s rise of 52.4%. Zacks Rank and Key Picks
Syneos Health currently carries a Zacks Rank #3 (Hold).
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