Dassault Systèmes, a Vélizy-Villacoublay-based French technology company that develops and markets PLM software and services, as per recent reports last week, has announced its plans to acquire Medidata, a New York, NY-based life sciences company, in an all-cash transaction at a per share price of $92.25, giving Medidata a $5.8 billion enterprise valuation.
With this acquisition, Dassault Systèmes plans to venture deep into the Life Sciences industry with an integrated business experience platform that provides an end-to-end approach to the R&D work, clinical testing, manufacturing, and commercialization of new therapies and health technologies.
Medidata, founded in 1999, with its clinical expertise and cloud-based solutions powers the development and commercialization of smarter therapies for 1,300 customers globally, which includes pharmaceutical companies and biotechs, contract research organizations (CROs), and medical centers and other healthcare sites. Based on 2018 statistics, thirteen of the top 15 drugs sold last year were based on Medidata’s technology; eighteen of the top 25 pharmaceutical companies and nine of the top 10 CROs are all Medidata customers. Last fiscal, i.e. FY-18 (2017-18), Medidata reported revenue of $636 million.
“Our mission to get the right treatment, to the right patient, at the right time has fueled our 20-year journey of innovation and commitment to the life sciences industry,” said Tarek Sherif, Co-founder, Chairman and CEO, Medidata. “We share common vision, values, and passion with Dassault Systèmes, and our combined talents will empower the life sciences industry with an end-to-end business platform.”