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Monday, July 27, 2009
Phase Forward pays $11M for Maaguzi
By Mass High Tech Staff
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Phase Forward, the Waltham-based maker of data management software for clinical trials and drug safety, reports it has bought Maaguzi LLC for $11 million in cash.
Maaguzi is a provider of web-based, electronic patient reported outcomes (ePRO). The company has operations in Indianapolis, Ind. and Morrisville, N.C.
This is Phase Forward’s (Nasdaq: PFWD) first entry into ePRO and observational studies markets, company officials said. While PDA’s were initially used in ePRO studies, Maaguzi’s Outcome Logix uses web-based interfaces supported on all common browsers.
Earlier this month, Phase Forward paid $10 million in cash to buy the Interactive Voice & Web Response Services business of Princeton, N.J.-based drug developer Covance Inc. (NYSE: CVD). That deal included a multiyear marketing agreement for the Waltham-based data management solutions provider for clinical trials and drug safety.
In June, Phase Forward signed a licensing, support and hosting services deal with GlaxoSmithKline, centered around the InForm Integrated Trial Management Solution.
In April, Phase Forward announced a multiyear, multimillion-dollar extension of an earlier agreement with contract research organization (CRO) Everest Clinical Research Services Inc., also focused around the InForm product.
Phase Forward posted revenue of $170.2 million for 2008, a 27 percent increase from $134.3 million in 2007. The company’s net income, however, was $13.8 million in 2008, down from $29.2 million in 2007.
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