Genpact, a professional services firm focused on delivering digital transformation, announced that it has signed a definitive agreement to acquire Commonwealth Informatics, Inc. (CI), a noted provider of cloud-based drug safety analytics products and services for medical research and healthcare delivery headquartered near Boston, Mass. Terms of the deal were not disclosed. This transaction is not expected to be material to current year financial performance, announced Genpact in an official statement.
With this acquisition, the Genpact pharmacovigilance artificial intelligence (PVAI) suite of capabilities is expected to be the first in the industry to establish a closed-loop, machine learning system across the entire pharmacovigilance information value chain. Incorporating the Commonwealth Vigilance Workbench (CVW) software and the deep expertise of the CI team, Genpact will enable life sciences companies to establish a new approach for pharmacovigilance – one which leverages the wealth of available data in an effort to better predict and prevent adverse effects of medicines and thereby protect patient safety, while at the same time improving data quality and operational efficiency.
Genpact’s PVAI capabilities incorporate natural language processing and machine learning techniques to reliably and accurately extract and process adverse event data from unstructured and partially-structured source documents. The integration of CVW with Genpact’s PVAI offering for automated and intelligent case processing is expected to create a pharmacovigilance system that continually learns from the wider healthcare delivery ecosystem, accelerates and enhances signal detection and evaluation, and better protects patient safety.
Commonwealth Informatics is led by a widely-respected service and development team whose products and services span signal detection, signal evaluation, risk assessment, benefit-risk assessment, and population health informatics. CVW consists of a set of integrated modules that are delivered via a software as a service model. Commonwealth Informatics developed the modules in close collaboration with leading pharmacovigilance teams within pharmaceutical companies and regulatory agencies. The modules provide support for generating and assessing evidence from individual case safety reports, clinical trial data sets, and electronic health records. CVW is used by life sciences and biotech companies, healthcare providers, and government agencies such as the US Food and Drug Administration (FDA) and the UK Medicines and Healthcare Products Regulatory Agency (MHRA).
“With the integration of Commonwealth Informatics’ ground-breaking signal management solution into the Genpact PVAI suite of capabilities, we can better help life sciences companies achieve end-to-end transformations of their pharmacovigilance operating models, serving as their single go-to partner,” said Balkrishan “BK” Kalra, business leader for Life Sciences and Healthcare at Genpact. “We believe that our enhanced PVAI suite has the potential to be revolutionary in its impact across the industry, shifting resources from transaction processing to analysing the effects of medicines on public health. Genpact’s PVAI offering is currently being implemented by a number of large pharmaceutical companies, including a top-five global pharmaceutical leader. With the added capabilities from CI, we are excited to provide a comprehensive solution capable of transforming pharmacovigilance.”
“Commonwealth Informatics is thrilled to join forces with Genpact and combine our software and expertise in close collaboration with our customers to create the future of pharmacovigilance systems,” said Geoffrey Gordon, founder and president, Commonwealth Informatics.“We are also excited to use this strong foundation as the basis for future work with healthcare organisations to close the loop and realise the full potential of a learning healthcare system.”
Genpact currently serves the majority of the top global life sciences companies, helping pharmaceutical and medical devices companies pursue global growth, achieve cost reduction, increase speed to market, and improve regulatory compliance by providing a range of digital solutions, analytics services, and business process transformation expertise.
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Prajakta is a Writer/Editor/Social Media diva. Lover of all that is 'quaint', her favourite things include dogs, Starbucks, butter popcorn, Jane Austen novels and neo-noir films. She has previously worked for HuffPost, CNN IBN, The Indian Express and Bose.