Bracket, which is backed by Genstar Capital, has acquired Arlington, Virginia-based mProve Health Inc, a provider of mobile technologies for life science companies. No financial terms were disclosed.
WAYNE, Pa., Oct. 24, 2017 /PRNewswire/ — Bracket, a leading clinical trial technology and specialty services provider, today announced the strategic acquisition of mProve Health Inc. (mProve), a leading provider of mobile technologies for life science companies. The acquisition centers on both companies’ support of tech-enabled clinical trials that improve patient engagement through the use of “Bring Your Own Device” mobile tools in clinical trials.
Early-to-market with Electronic Clinical Outcomes Assessments (eCOA) and the first Randomization and Trial Supply Management (RTSM) mobile application, Bracket is at the forefront of digitization in clinical trials. Bracket helps biopharmaceutical sponsors and CROs increase the power of their data and identified a need to bring greater accuracy through technology. Included in mProve’s suite of regulatory compliant mHealth solutions is mPulse, an Electronic Patient-Reported Outcomes (ePRO) platform for enabling data collection via standalone native mobile apps or SMS text. Other apps will enable communication with doctors and provide reminders and education.
In a recent report by KNect365, 94% of clinical trials professionals surveyed are looking to increase the utilization of mHealth, surpassing big data (86%) and cloud technology for EMRs (84%). These findings, among others, indicate mHealth technology as one of the most powerful opportunities in clinical trials. While mainstream eCOA providers are challenged to retrofit their systems to support emerging mHealth technologies and the BYOD movement, Bracket is now positioned for success with native mHealth capability.
“We are excited to announce the acquisition of mProve as we take a major step forward in our support of tech-enabled clinical trials,” said Jeff Kinell, CEO of Bracket. “As an early adopter of mHealth and BYOD, we recognize how these movements empower patients to become partners in their trials, and subsequently, deliver more accurate PRO and increase the likelihood of a successful trial.”
“This acquisition is an opportunity to bring the shared visions of mProve and Bracket into focus,” said Jeff Lee, CEO of mProve. “Both organizations center on improving patient engagement and driving adoption of the mHealth to do so. Together, we are well situated for a future of tech-enabled clinical trials.”
David Golde, Director at Genstar Capital, commented, “We are excited to be supporting Bracket’s first acquisition under Genstar ownership. Combined, Bracket and mProve’s solutions will deliver increased value to clinical trials through the greater use of technology. We look forward to working with Bracket management to continue pursuing strategic acquisitions that allow Bracket to better serve its customers.”
About mProve Health
mProve Health is a leading provider of mobile technologies for life science companies, helping them connect better with patients. The company offers industry-grade, regulatory compliant mobile solutions for patient recruitment, patient engagement, and electronic clinical outcome assessments (eCOA). mProve’s applications are used by 18 of the top 20 pharmaceutical companies, 15,000 clinical research sites in over 60 countries, and they are translated in over 50 languages to support patients across the globe. The company was founded in 2010 by Jeff Lee, CEO, an entrepreneur and mobile engagement strategist who founded three prior successful ventures, and Denis Curtin, PhD, CSO, a pharmacologist and pharmaceutical industry veteran. Learn more at www.mprove.com.
Bracket, with nine offices and more than 700 employees worldwide, is a clinical trial technology and specialty services provider dedicated to helping biopharmaceutical sponsors and contract research organizations increase the power of their clinical research data by leveraging core competencies in Science, Technology, and Service. Bracket eCOA™ is a flexible platform for electronic clinical outcomes assessments. Bracket RTSM™ is a best-in-breed, scalable and configurable clinical IRT solution for the life sciences industry. Bracket SmartSupplies™ is a proven platform for improving a clinical supply chain. Bracket Rater Training and Quality Assurance improve outcomes through customized training and quality assurance programs. Learn more about Bracket at www.bracketglobal.com.
About Genstar Capital
Genstar Capital (www.gencap.com) is a leading private equity firm that has been actively investing in high quality companies for more than 25 years. Based in San Francisco, Genstar works in partnership with its management teams and its network of strategic advisors to transform its portfolio companies into industry-leading businesses. Genstar manages funds with total capital commitments of approximately $9 billion and targets investments focused on targeted segments of the industrial technology, healthcare, financial services, and software industries.