Oracle Corp. has acquired the assets of SiteWorks Solutions, a producer of clinical trial management software, Oracle announced Thursday.
Oracle acquired "all the substantial products and all the key employees," said Keith Howells, vice-president of Oracle's Pharmaceutical Applications group.
Oracle plans to combine two products made by SiteWorks — SiteMinder and TrialMinder — with the Oracle Clinical application suite. SiteMinder is used by hospitals and research institutions to plan, budget and manage their participation in clinical trials, while TrialMinder performs the same services for sponsoring pharmaceutical companies or contract research organizations, according to an Oracle statement. Both applications are Web-based and run on the Oracle 9i database.
The Oracle Clinical suite is used by organizations conducting clinical trials to capture remote data easily, summarize medical terminology, track adverse events from all sources and respond to inquiries.
"Oracle is the standard in our industry. Adding our applications to their suite of products is a very compelling proposition for both the pharmaceutical industry and large academic medical centers," said SiteWorks Solutions chief executive officer Dee Anna Smith.
"We studied this market area long and hard, and we decided that what our customers needed told us to get a solution quickly rather than however long it would take to get a solution ourselves. We found SiteWorks was far and away the best company," Howells said.
Oracle is unable to disclose the monetary transactions involved in the acquisition, according to Howells.
Oracle expects the acquisition to increase its profits. "Anything that helps our customers operate more efficiently, we believe they will pay accordingly for that capability," Howells said.