Phase Forward to Acquire Covance's IVRS and IWRS Business

Phase Forward, a provider of data management solutions for clinical trials and drug safety, reportedly has signed an agreement to purchase the Interactive Voice and Web Response Services (IVRS/IWRS) business of Covance Inc. for $10 million in cash.

 

As part of this transaction, Phase Forward and Covance have agreed to enter into a multi-year marketing agreement to provide Phase Forward’s market leading InForm electronic data capture (EDC) solution and Clarix interactive response technology solution to Covance clients.

 

Phase Forward expects the purchase, which is subject to customary closing conditions, to be completed by the end of August.

 

“Covance and Phase Forward are committed to working together to deliver best-of-class solutions to our clinical trial customers,” said Bob Weiler, chairman and CEO of Phase Forward, in a statement.

 

Weiler said that Covance has been a pioneering leader in the IVRS/ IWRS market and the company looks forward to building upon their success.

 

He said that his company is also pleased to solidify its long-term strategic relationship with one of the world’s leading and most successful CROs.

 

“Covance remains fully committed to providing our clients with integrated drug development solutions, including advanced technology for supporting clinical trials,” said Joe Herring, chairman and CEO of Covance.

 

Herring said that the company is delighted to broaden its relationship with Phase Forward, a preferred provider of EDC software for clinical trials, to include market leading IVRS/IWRS technology for clinical trials.

 

“We believe our clients will benefit from Phase Forward’s integrated data management platform and Covance’s integrated clinical trial solutions,” he added.

 

Covance, with headquarters in Princeton, New Jersey, is a comprehensive drug development services companies with annual revenues greater than $1.7 billion, global operations in more than 25 countries, and more than 9,800 employees worldwide.