Genpact announces inking of a definitive agreement to acquire Commonwealth Informatics (CI) without unveiling the terms of the deal.
The acquisition is sought to establish Genpact pharmacovigilance artificial intelligence (PVAI) suite of capabilities as the first in the industry offering closed-loop, machine-learning system across the entire pharmacovigilance information value chain.
Also, 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.
It will leverage 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.
“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 analyzing 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.”
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 services 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 U.S. Food and Drug Administration (FDA) and the UK Medicines and Healthcare Products Regulatory Agency (MHRA).
“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 organizations to close the loop and realize the full potential of a learning healthcare system.”
Although, official statement noted, the transaction is not expected to be material to current year financial performance.