Oracle Health Sciences Announces Oracle’s Spend Monitor Solution
New Offering Helps Life Sciences Organizations to Seamlessly Manage Compliance with Federal and State Aggregate Spend Requirements
Oracle Health Sciences announces Oracle’s spend monitor solution, which helps life sciences organizations increase transparency and comply with disparate state and federal regulations and industry guidelines governing sales and marketing spend, as well as financial arrangements with healthcare providers.
Life sciences organizations face unprecedented reporting complexity as a growing number of states, as well as the federal government, initiate new – and varied – requirements around monitoring and limiting aggregate spend.
Oracle’s spend monitor solution combines pre-integrated applications as well as services and federated data feeds. It helps life sciences organizations to facilitate compliance by automating the capture, tracking and aggregation of spend transactions, and generating real-time alerts and reports that are compliant with state and federal regulations – including the federal “Sunshine Act,” a transparency initiative that will go into effect in 2013.
The solution provides a solid foundation for compliance – as well as internal transparency initiatives – by:
- Incorporating existing customer master files, creating a validated healthcare practitioner identifier across source systems, and standardizing third-party data feeds – to ensure data accuracy
- Capturing and consolidating all healthcare practitioner spend from core financial, human resources, and operational systems into a consolidated database for complete visibility
- Delivering robust reporting and analytics required for all state and federal requirements, as well as providing highly flexible business intelligence functionality for internal stakeholders
- Maintaining updated rules for mandatory reporting content and schedules
- Incorporating state-by-state dashboards, as well as internal data quality processes and compliance alert reporting to enable dynamic monitoring
- Offering options for managed services to ensure high-quality regulatory support and technology hosting
To optimize return on existing and planned IT investments, Oracle’s spend monitor solution can be deployed in a number of implementation scenarios.
“Life sciences organizations are increasingly challenged to manage compliance with a growing web of regulations governing their spend in relation to healthcare practitioners,” said Arvindh Balakrishnan, vice president, Life Sciences, Oracle. “Oracle is uniquely positioned to deliver an innovative approach to this challenge with a spend monitor solution that combines pre-integrated applications, services, and federated data feeds to facilitate compliance and support advanced organizational transparency initiatives.”
“In a recent survey of industry leaders, sales and marketing ranked as the top functional area of focus for life sciences companies. This demonstrates the impact that life sciences companies expect recent regulatory reform to have on sales and marketing spend and initiatives,” said Eric Newmark, program director, IDC Health Insights. “As life science companies evaluate the IT requirements needed to support both sales innovation and regulatory compliance, easy-to-integrate solutions with strong analytical capabilities should be top of mind, such as Oracle’s Spend Monitor solution.”
loading...
QAD Hosts Forum to Prepare Life Sciences Manufacturers for Industry Reform
SANTA BARBARA, Calif–QAD Inc. (NASDAQ:QADI), a leading provider of enterprise software and services for global manufacturers, today announced the launch of its New York City Life Sciences Forum at the Grand Havana Room on October 7, to provide a forum for Life Sciences manufacturers to learn how to navigate and adapt to impending healthcare industry changes, while building market strength through technology adoption.
By 2015, Life Sciences manufacturers and distributors will be expected to comply with California’s ePedigree Law, mandating mass serialization on the smallest saleable unit-level. To prepare Life Sciences manufacturers, QAD and its panel of experts from Excellis Consulting Corporation, United Drug PLC, and J.P. Morgan Chase, will lead an invitation-only audience through a series of presentations and open discussion on the impending changes to serialization, ePedigree and healthcare reform, and how to leverage technology to transform these challenges into market opportunities.
Greg Cathcart, CEO at Excellis, and Rick Seibert, vice president of Business Development at United Drug PLC, will provide a keynote presentation on the evolving global regulatory landscape surrounding serialization and ePedigree.
“Many biotech and pharmaceutical companies are already moving aggressively to serialize their key products,” noted Riya Cao, director for Life Sciences at QAD. “These manufacturers recognize how serialization provides tractability and accountability in the global supply chain, mitigates risk and counterfeits, protects revenue and builds brand trust.”
A representative of Informatics at Forest Laboratories will present to the forum on the challenges Life Sciences companies face with the new Health Care Reform bill.
Completing the session, John DiFucci, managing director at J.P. Morgan Chase, will show how Life Sciences companies can meet regulatory requirements while driving down costs leveraging QAD Enterprise Applications On Demand.
About the NYC Life Sciences Forum Presenters
Greg Cathcart, CEO at Excellis Consulting Corporation, has more than 25 years in the Life Sciences industry. He currently leads the Excellis team in support of its clients in the areas such as supply chain strategy and execution, and is the sponsor of the www.globaltrackandtrace.org consortium, an industry run consortium focused on the global serialization needs of the industry.
Rick Seibert, vice president of Business Development at United Drug Plc, boasts more than 25 years’ experience in the medical device, surgical instrument and pharmaceutical packaging and services industries. He is an expert in strategic planning, marketing/business development, project management, business process improvement and product development, and holds multiple undergraduate and graduate degrees and certifications.
John DiFucci, managing director at J.P. Morgan, is a software industry veteran. He is an expert in the infrastructure software industry, including the integration, application development, systems and performance management, business intelligence, security, and storage. He holds multiple degrees and licenses.
About QAD
QAD is a leading provider of enterprise applications for global manufacturing companies specializing in automotive, consumer products, electronics, food and beverage, industrial and life science products. QAD applications provide critical functionality for managing manufacturing resources and operations within and beyond the enterprise, enabling global manufacturers to collaborate with their customers, suppliers and partners to make and deliver the right product, at the right cost and at the right time. For more information about QAD, telephone +1 805-566-6000, or visit the QAD web site at www.qad.com.
Note to Investors: This press release contains certain forward-looking statements made under the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. A number of risks and uncertainties could cause actual results to differ materially from those in the forward-looking statements. These risks include, but are not limited to, evolving demand for the company’s software products and products that operate with the company’s products; the company’s ability to sustain license and service demand; the company’s ability to leverage changes in technology; the company’s ability to sustain customer renewal rates at current levels; the publication of opinions by industry and financial analysts about the company, its products and technology; the reliability of estimates of transaction and integration costs and benefits; the entry of new competitors or new offerings by existing competitors and the associated announcement of new products and technological advances by them; delays in localizing the company’s products for new or existing markets; the ability to recruit and retain key personnel; delays in sales as a result of lengthy sales cycles; changes in operating expenses, pricing, timing of new product releases, the method of product distribution or product mix; timely and effective integration of newly acquired businesses; general economic conditions; exchange rate fluctuations; and, the global political environment. In addition, revenue and earnings in the enterprise resource planning (ERP) software industry are subject to fluctuations. Software license revenue, in particular, is subject to variability with a significant proportion of revenue earned in the last month of each quarter. Given the high margins associated with license revenue, modest fluctuations can have a substantial impact on net income. Investors should not use any one quarter’s results as a benchmark for future performance. For a more detailed description of the risk factors associated with the company and the industries in which it operates, please refer to the company’s Annual Report on Form 10-K for fiscal 2009 ended January 31, 2009.
loading...
SYSPRO Welcomes Proposed FDA Regulations
August 25, 2010 — SYSPRO, the leading provider of visionary, pragmatic ERP software, today announced that the company is highly confident that the SYSPRO ERP solution will enable pharmaceutical manufacturers to meet the new U.S. Food and Drug Administration (FDA) regulations being proposed by Congress. The Drug Safety and Accountability Act of 2010 will strengthen quality pharmaceutical standards with stringent oversight on suppliers, manufacturers and their supply chains. The bill would require manufacturers to establish additional procedures to ensure the quality of safety drugs and drug components. It also would require companies to document the components in the drug manufacturing supply chain. The new Act is follow-through on the part of FDA executives who promised to strengthen inspection and quality requirements for drug makers who outsource to suppliers. As a result of these changes, many pharmaceutical manufacturers are looking to companies like SYSPRO to supply them with ERP systems to facilitate both the management and meeting of these new standards.
Traceability functionality is the key component required to assist in the meeting of these new standards. SYSPRO ERP software offers extensive traceability capabilities as well as other functionalities that facilitate the ability of manufacturers to trace products from origin, through the manufacturing process, to their ultimate destination, fully maintaining assurance certification and tracking expiration dates.
SYSPRO optionally allows specific traceable components to be reserved for specific work-orders, as well as providing the flexibility of specifying the parent traceable numbers at the beginning, during or the end of the manufacturing process.
SYSPRO lot traceability and serial tracking functionality afford extensive visibility up or down the chain, as well as providing specific component to parent tracking, thereby providing the means to expedite recalls, should the need arise. In fact, so extensive is the
traceability aspects inherent in SYSPRO software that they extend to Landed Cost Tracking which provides visibility of imported goods and tracks all associated cost, which is another area to which the FDA is applying more stringent regulations.
According to SYSPRO USA President Joey Benadretti, “Safety remains a serious concern, and SYSPRO will continue efforts to enable its software to assist customers by providing users greater visibility and control over quality and tracking in industries such as food, medical devices and pharmaceuticals, where quality and regulatory conformance are particularly crucial.”
About SYSPRO
Since its inception in 1978, SYSPRO has been delivering state-of-the-art business solutions to some of the world’s leading companies.
As a global leader in the production of world-class ERP software, the company now caters to the specialized needs of 14,500 licensed companies in more than 60 countries worldwide. SYSPRO is marketed globally through regional territory distribution centers and a global reseller network in the US, Canada, Africa, Asia Pacific, Australia and the UK.
SYSPRO is a fully integrated business software solution that provides complete control over the planning and management of all facets of business including accounting, manufacturing and distribution operations in a variety of industries.
For additional information on SYSPRO, call Stanley Goodrich at 714/437-1000 or go to www.syspro.com.
All company names and products mentioned in this release are trademarks or registered trademarks of their respective holders.
loading...
SYSPRO ERP Choice of Medical Device Start-Up
COSTA MESA, Calif. — SYSPRO, the leading provider of visionary, pragmatic ERP software, today announced that NeoTract, Inc., a Medical Device start-up company headquartered in Pleasanton, Calif., has selected SYSPRO ERP (Enterprise Resource Planning) software to manage the company’s financial, manufacturing and distribution operations.
“We established a needs analysis based specification list prior to talking to potential software companies. Our criteria included the technical product elements and the resellers’ ability to guide NeoTract through installation.”
According to Douglas Fraits, Vice President of Operations, after five years of focused R&D activities, NeoTract is launching its first commercial product, the UroLift® system for Benign Prostatic Hyperplasia (BPH). “As a pro-active medical device start-up, we were interested in purchasing a proven, cost-effective ERP solution that would serve a growing Medical Device manufacturing company application,” he says. “We established a needs analysis based specification list prior to talking to potential software companies. Our criteria included the technical product elements and the resellers’ ability to guide NeoTract through installation.”
Fraits reports that after consideration of five software systems, the choice was narrowed to two for detailed reviews. “SYSPRO,” he notes, “was selected based primarily on the perception that it is the superior product from a user interface perspective. We liked the screen layouts and ease of navigation. SYSPRO and its local reseller were both rated highly after conducting our reference due diligence. We also liked the option of adding the SYSPRO Quality Management software module to the base system sometime in the future.”
Fraits anticipates that the SYSPRO solution will enable NeoTract to run an effective and efficient operation, managing purchases from suppliers through production to finished goods inventory. “SYSPRO will allow us to scale the business and to better service our end customers with quality product while avoiding costly, excessive inventories,” he says. “As a SME enterprise we will utilize the software to highly leverage our people capital. Having easy access to all transactions from our computers will allow us to monitor the business and make quicker decisions during our impending high growth phase.”
About NeoTract
NeoTract, Inc., is dedicated to developing innovative and clinically effective devices that address unmet needs in the field of urology. The company’s initial focus is to improve the standard of care for patients with BPH (Benign Prostatic Hyperplasia), a broadly underserved market. NeoTract’s first product is the UroLift® System, a set of minimally invasive devices designed to treat lower urinary tract symptoms (LUTS) due to BPH.
For more information, call 925-401-0700 or visit www.neotract.com.
About SYSPRO
Since its inception in 1978, SYSPRO has been delivering state-of-the-art business solutions to some of the world’s leading companies. As a global leader in the production of world-class ERP software, the company now caters to the specialized needs of over 14,500 licensed companies in more than 60 countries worldwide. SYSPRO is marketed globally through regional territory distribution centers and a global reseller network in the US, Canada, Africa, Asia Pacific, Australia and the UK.
SYSPRO is a fully integrated business software solution that provides complete control over the planning and management of all facets of business including accounting, manufacturing and distribution operations in a variety of industries.
All company names and products mentioned in this release are trademarks or registered trademarks of their respective holders.
loading...
Oracle Introduces Oracle Pedigree and Serialization Manager
Redwood Shores, Calif. – July 26, 2010
News Facts
- Oracle today announced the availability of Oracle Pedigree and Serialization Manager, an integrated mass-serialization and pedigree application designed specifically to improve supply chain integrity in the pharmaceutical industry.
- The new solution helps pharmaceutical manufacturers facilitate compliance with emerging electronic pedigree (ePedigree) initiatives and regulatory requirements, reduce business and reputational risk associated with the rising incidence of drug counterfeiting and product diversion while extending value across the pharmaceutical supply chain.
- Oracle Pedigree and Serialization Manager generates, stores, transmits and authenticates drug product serial data and ePedigree data as pharmaceutical products move across the supply chain. This facilitates counterfeit threat identification and streamlines compliance. In addition, integrated analytics within the solution provide pharmaceutical manufacturers with expanded insight into possible threats.
- Pharmaceutical companies can use this solution to improve the efficiency and accuracy of returns management and reduce associated losses. Non-repudiation capabilities automate assessment and reconciliation of products returned against products shipped, helping to reduce write offs.
- In addition, this software helps pharmaceutical companies maintain stronger channel integrity by enabling them to reduce product diversions, such as from lower reimbursement locations to higher reimbursement locations. It also can help reduce revenue leakage by helping to improve scrutiny of chargeback rebates paid out to wholesalers.
- Built on an open standards-based Service-Oriented Architecture (SOA) and Oracle Fusion Middleware applications, Oracle Pedigree and Serialization Manager is built to integrate seamlessly with existing Oracle and third-party systems for manufacturing, packaging and shipping and receiving.
- Oracle Pedigree and Serialization Manager, which supports Web services and features an intuitive interface, is built with flexibility designed to aid compliance with evolving global regulatory mandates for product mass serialization management.
- Although designed to address the product identification needs of pharmaceutical companies, Oracle Pedigree and Serialization Manager can also be used in any industry dealing in high-value products at risk for counterfeiting and piracy, such as medical devices, high technology or luxury goods.
Supporting Quotes
- “Oracle Pedigree and Serialization Manager is well positioned to quickly capitalize on the present solution gap in the drug pedigree space,” said Eric Newmark, Research Manager, IDC Health Insights. “It delivers all the bells and whistles you’d expect in a serialization and pedigree solution.”
- “Ensuring supply chain integrity is not only about compliance and protecting your brand, it’s also about protecting your bottom line,” said Oracle’s Jon Chorley, vice president SCM Product Strategy. “By definitively identifying your products in the supply chain and providing a broad set of analytic insights on that data, Oracle Pedigree and Serialization Manager will deliver both. The result is a safe and secure pharmaceutical supply chain, combined with a strong ROI.”
General Availability
Oracle and Java are registered trademarks of Oracle and/or its affiliates. Other names may be trademarks of their respective owners.
Supporting Resources
- Oracle Pedigree and Serialization Manager
- Oracle in Health Sciences
- Follow Oracle Health Sciences on Twitter
- Become an Oracle Health Sciences Fan on Facebook
- Pharmaceutical Manufacturing – ePedigree: The Rugged Road Ahead, Mar. 4, 2010
- Pharmaceutical Manufacturing –The Path to ePedigree: Manufacturers Chart Their Course, Mar. 4, 2010
- Pharmaceutical Technology – Resist the Rain Check: ePedigree Solutions Have Immediate Value, Feb. 17, 2010
About Oracle Applications
Over 65,000 customers worldwide rely on Oracle’s complete, open and integrated enterprise applications to achieve superior results. Oracle provides a secure path for customers to benefit from the latest technology advances that improve the customer software experience and drive better business performance. Oracle Applications Unlimited is Oracle’s commitment to customer choice through continuous investment and innovation in current applications offerings. Oracle’s next-generation Fusion Applications build upon that commitment, and are designed to work with and evolve Oracle’s Applications Unlimited offerings. Oracle’s lifetime support policy helps ensure customers will continue to have a choice in upgrade paths, based on their enterprise needs. For more information on the latest Oracle Applications releases go to: www.oracle.com/applications
About Oracle
Oracle (NASDAQ: ORCL) is the world’s most complete, open, and integrated business software and hardware systems company. For more information about Oracle, please visit our Web site at http://www.oracle.com.
Trademarks
Oracle and Java are registered trademarks of Oracle and/or its affiliates. Other names may be trademarks of their respective owners.
loading...
SYSPRO ERP Choice of Pioneering Medical Device Manufacturer
COSTA MESA, Calif., – June 11, 2010 – SYSPRO, the leading provider of visionary, pragmatic ERP software, has today announced that TransEnterix, a fast–growing medical device manufacturer based in Durham, North Carolina, has selected SYSPRO ERP software after a lengthy selection process that included a thorough analysis of seven mid-range ERP software providers. TransEnterix, which develops pioneering technologies to facilitate minimally invasive surgical procedures, sought new software to “deliver real-time, multi-functional data in various reporting structures to visually accommodate the needs of individual users and groups.” SYSPRO software is expected to facilitate superior inventory controls, forecasting and trend analysis and FDA compliance as well provide management with real-time insight into company operations.
According to Sherry Dickson, System Administrator, TransEnterix had been utilizing disparate Financial, MRP and PLM software packages. “We wanted to move to a single, integrated solution that would support business critical information, facilitate adherence to medical device regulations and provide a snapshot of the company at any point in time. Our goal was to select a cost-effective solution that would be user friendly, scalable, reliable and allow us to consolidate and eliminate older systems.” After narrowing the selection process to two ERP solution providers, Dickson notes that SYSPRO was the clear winner based on the comprehensive nature of the software, the wide choice of integrated modules, system scalability and ease of system navigation. “What really won us over was the endorsement of current SYSPRO users,” she said. “Not only did they stress the ease of implementing the software, but they all alluded to the highly productive nature of the solution.”
About TransEnterix
TransEnterix, a fast-growing medical device company, partners with leading medical thought-leaders to rapidly develop pioneering technologies that advance minimally invasive surgery. The company’s business model involves rapid prototyping, intense pre-clinical labs and hands-on collaboration with surgeons to accelerate learning and bring new technologies to market more quickly. TransEnterix has secured $75 million in venture capital funding. For additional information go to: www.transenterix.com/
About SYSPRO
Since its inception in 1978, SYSPRO has been delivering state-of-the-art business solutions to some of the world’s leading companies. As a global leader in the production of world-class ERP software, the company now caters to the specialized needs of over 14,500 licensed companies in more than 60 countries worldwide. SYSPRO is marketed globally through regional territory distribution centers and a global reseller network in the US, Canda, Africa, Asia Pacific, Australia and the UK.
SYSPRO is a fully integrated business software solution that provides complete control over the planning and management of all facets of business including accounting, manufacturing and distribution operations in a variety of industries.
For additional information on SYSPRO, call Stanley Goodrich at 714/437-1000 or go to www.syspro.com.
All company names and products mentioned in this release are trademarks or registered trademarks of their respective holders.
loading...
Class II Medical Device Manufacturer Inovo, Inc. Launches Plex Online
Plex Systems, Inc., provider of Plex Online, the No. 1 rated manufacturing ERP software, today announced that Class II medical device manufacturer Inovo, Inc. has launched Plex Online as its new manufacturing enterprise resource planning (ERP) software provider.
Based in Naples, Florida, Inovo is a leading manufacturer of oxygen regulators and conservers, serving the needs of home healthcare, EMS and hospital markets. The company began seeking a new ERP system following the acquisition of its largest competitor in late 2008.
“We had too many software platforms, including an accounting system, a production system, and several Access databases,” explained Mike Mulroy, Inovo, Inc. chief operating officer. “Our systems were not integrated, and it was very difficult to assemble the right data to manage our business.”
In June 2009, Inovo signed on as a new customer of the complete Plex Online system. Implementation began in September. Phase one was launched January 1. It included all financial-related functions such as account receivables, accounts payable, and inventory management. Inovo is now implementing quality controls, engineering change controls, corrective and preventive action (CAPA) systems, and similar functions.
“We are very happy with Plex Online,” noted Mulroy. “Its quality control functions are head and shoulders above anything we’ve seen before, and the system matches the way we track product quality internally.” “Self-validating to FDA standards is simple with Plex Online,” he continued. “Validation requires that what you expect to come out of the system does come out of the system, and that reliability is one of the key advantages of Plex Online.”
“We are pleased that Inovo has chosen Plex Online as its SaaS ERP provider,” said Plex Systems CEO and President Mark Symonds. “We look forward to helping this industry leader use our technology, and the precision that it enables, to meet its rigorous traceability demands and comply with industry regulations.”
About Plex Systems
Plex Systems, Inc. is the developer of Plex Online, a software as a service (SaaS) solution for the manufacturing enterprise and the only solution to achieve the prestigious Champion ranking in Aberdeen Group’s 2009 ERP in Manufacturing AXIS report. Plex Online offers industry-leading features for virtually every department within a manufacturer, including Manufacturing Execution Systems (MES) and Quality Management Systems (QMS) for the shop floor, Customer Relationship Management (CRM) for sales and marketing, Supply Chain Management (SCM) for procurement, and Enterprise Resource Planning (ERP) for finance and management. Plex Online’s fully integrated model delivers a “shop floor to top floor” view of a manufacturer’s operations, enabling management to run its business at maximum efficiency. Founded in 1995, Plex Systems is headquartered in Auburn Hills, Michigan, with customers around the globe.
loading...
Plex Online Demo Available For Medical Device Manufacturers And Motor Vehicle Suppliers And Manufacturers At Free Webinars
June 1, 2010 – Plex Systems, Inc., provider of the No. 1 rated ERP software for manufacturers, recently announced live demonstrations of Plex Online’s comprehensive ERP solution for Motor Vehicle Suppliers and Manufacturers on Tuesday, June 8, 2010 from 2 – 3 p.m. ET and Medical Device Manufacturers on Tuesday, June 22, 2010 from 2 – 3 p.m. ET.
These industry-specific events offer manufacturers an opportunity to explore Plex Online as they would use it in their day-to-day operations. Participants will see first-hand how Plex Online effortlessly tracks lot properties while optimizing and improving mission-critical business processes such as batch production, end-to-end inventory control and traceability, quality assurance, FMEA, regulatory reporting, trading partner mandates and EDI, tooling management, and OEE tracking and trend analysis. Each webinar is tailored to the particular industry audience and will highlight additional features unique to the motor vehicle and medical device manufacturing communities.
The demonstrations will showcase how implementing an industry-leading ERP system helps manufacturers run leaner operations while seamlessly linking the complete enterprise. The result is better quality management, maximized productivity and increased profitability. Registration is free.
About Plex Systems, Inc.
Plex Systems, Inc. is the developer of Plex Online, a software as a service (SaaS) solution for the manufacturing enterprise and the only solution to achieve the prestigious Champion ranking in Aberdeen Group’s 2009 “ERP in Manufacturing” AXIS report. Plex Online offers industry-leading features for virtually every department within a manufacturer, including Manufacturing Execution Systems (MES) and Quality Management Systems (QMS) for the shop floor, Customer Relationship Management (CRM) for sales and marketing, Supply Chain Management (SCM) for procurement, and Enterprise Resource Planning (ERP) for finance and management. Plex Online’s fully integrated model delivers a “shop floor to top floor” view of a manufacturer’s operations, enabling management to run its business at maximum efficiency. Founded in 1995, Plex Systems is headquartered in Auburn Hills, Michigan, with customers around the globe. For more information, visit www.plex.com.
loading...
Oracle Buys Phase Forward
Redwood Shores, Calif. – April 16, 2010
Oracle announced today that it has agreed to acquire Phase Forward (NASDAQ: PFWD), a leading provider of applications for life sciences companies and healthcare providers, through a cash merger for $17.00 per share, or approximately $685 million.
Phase Forward’s SaaS-based Integrated Clinical Research Suite manages clinical development and safety processes from Phase 1 clinical trials through regulatory submission and post-approval monitoring. Adding complementary assets to Oracle Health Sciences, the combination is expected to enable researchers, clinical development professionals, physicians, regulators and patients to more effectively and securely capture, contribute, access and share data. The acquisition of Phase Forward is consistent with Oracle’s strategy to provide mission-critical applications for key industries.
Phase Forward management and employees are expected to join Oracle as part of the Oracle Health Sciences Global Business Unit. The transaction is subject to stockholder and regulatory approval and other customary closing conditions and is expected to close in mid 2010.
“The life sciences and healthcare industries are converging as they seek to control costs while accelerating patient-centered innovation,” said Neil de Crescenzo, Senior Vice President and General Manager, Oracle Health Sciences. “Phase Forward brings outstanding products and employees with significant expertise to Oracle that will help enable the delivery of personalized medicine and value-based healthcare.”
“Deployed in over 10,000 clinical trials, Phase Forward’s software has been used successfully by hundreds of customers to accelerate innovation in drug development and patient care delivery,” said Bob Weiler, Chairman, President and CEO, Phase Forward. “We look forward to combining our complementary wealth of experience with Oracle Health Sciences.”
About Oracle
Oracle is the world’s most complete, open, and integrated business software and hardware systems company. For more information about Oracle, please visit our Web site at http://www.oracle.com.
Trademarks
Oracle and Java are registered trademarks of Oracle Corporation and/or its affiliates. Other names may be trademarks of their respective owners.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains certain forward-looking statements about Oracle and Phase Forward, including statements that involve risks and uncertainties concerning Oracle’s proposed acquisition of Phase Forward, anticipated product information, estimates of future results of operations and general business outlook. When used in this press release, the words “anticipates”, “estimates”, “may”, “can”, “will”, “believes”, “expects”, “projects”, “intends”, “likely”, similar expressions and any other statements that are not historical facts are intended to identify those assertions as forward-looking statements. Any such statement may be influenced by a variety of factors, many of which are beyond the control of Oracle or Phase Forward, that could cause actual outcomes and results to be materially different from those projected, described, expressed or implied in this press release due to a number of risks and uncertainties. Potential risks and uncertainties include, among others, the possibility that the transaction will not close or that the closing may be delayed, the anticipated synergies of the combined companies may not be achieved after closing, the combined operations may not be successfully integrated in a timely manner, if at all, general economic conditions in regions in which either company does business, and the possibility that Oracle or Phase Forward may be adversely affected by other economic, business, and/or competitive factors. Accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what impact they will have on the results of operations or financial condition of Oracle or Phase Forward.
In addition, please refer to the documents that Oracle and Phase Forward, respectively, file with the Securities and Exchange Commission (the “SEC”) on Forms 10-K, 10-Q and 8-K. These filings identify and address other important factors that could cause Oracle’s and Phase Forward ‘s respective financial and operational results to differ materially from those contained in the forward-looking statements set forth in this document. You are cautioned to not place undue reliance on forward-looking statements, which speak only as of the date of this report. Neither Oracle nor Phase Forward is under any duty to update any of the information in this release.
Additional Information about the Merger and Where to Find It
In connection with the proposed merger, Phase Forward will file a proxy statement with the SEC. Additionally, Phase Forward and Oracle will file other relevant materials in connection with the proposed acquisition of Phase Forward by Oracle pursuant to the terms of an Agreement and Plan of Merger by and among Oracle, Pine Forward Acquisition Corporation, a wholly-owned subsidiary of Oracle, and Phase Forward. The materials to be filed by Phase Forward with the SEC may be obtained free of charge at the SEC’s web site at www.sec.gov. Investors and security holders of Phase Forward are urged to read the proxy statement and the other relevant materials when they become available before making any voting or investment decision with respect to the proposed merger because they will contain important information about the merger and the parties to the merger.
Oracle, Phase Forward and their respective directors, executive officers and other members of its management and employees, under SEC rules, may be deemed to be participants in the solicitation of proxies of Phase Forward stockholders in connection with the proposed merger. Investors and security holders may obtain more detailed information regarding the names, affiliations and interests of certain of Oracle’s executive officers and directors in the solicitation by reading the proxy statement and other relevant materials filed with the SEC when they become available. Information concerning the interests of Phase Forward ‘s participants in the solicitation, which may, in some cases, be different than those of Phase Forward ‘s stockholders generally, is set forth in the materials filed with the SEC on Form 10-K and will be set forth in the proxy statement relating to the merger when it becomes available.
loading...
-
-
- Oracle Consultant – eBusiness Suite
- IT Manager
- Senior ERP Consultant
- SAP Consultant
- Organizational Change Management Consultant
- Senior ERP Business Analyst
- Business Analyst Intern
- Marketing Assistant