Paradigm Health Transforms Clinical Trials with Acquisition
The partnership leads to a major advancement in the oncology research landscape.
Paradigm Health and Flatiron Health have announced a significant acquisition that positions Paradigm Health at the forefront of clinical research. This acquisition involves Flatiron's clinical research business and represents a transformative collaboration aimed at revitalizing the oncology landscape.
The newly formed partnership creates one of the largest oncology research networks in the United States, which is particularly significant for ensuring clinical trials reach rural and community-based practices. This collaboration is expected to significantly enhance access to clinical trials for diverse patient populations across the country and beyond.
With this acquisition, Paradigm Health is gearing up to expand its network to include over 25 prominent academic medical centers and health systems. Moreover, they will gain access to approximately 100 community oncology practices nationwide, thus impacting over 2.4 million patients throughout the U.S.
Paradigm Health is committed to effectively integrating Flatiron's clinical research framework and technological advancements into their own platform. This integration is tailored to facilitate greater patient access to clinical trials without the exorbitant costs usually associated with infrastructure development.
"In clinical research, it is essential for studies to represent the populations that new therapies serve," expressed Kent Thoelke, the CEO of Paradigm Health. "By merging our AI-powered approach with Flatiron's robust clinical research network, we aim to further accelerate the reach and effectiveness of clinical trials across the healthcare landscape."
Echoing this sentiment, Nathan Hubbard, the CEO of Flatiron Health, highlighted the benefits of their partnership: "Bringing together our expertise allows us to create a more powerful, interconnected clinical research ecosystem. This collaboration enhances our capabilities, speeds up impactful treatments, and advances our mission to introduce new therapies to patients more swiftly."
This strategic move goes beyond a mere acquisition; it lays the foundation for a long-standing partnership in which both organizations aim to enhance the capabilities of their technologies. Paradigm Health will extend its support to all existing Flatiron OncoEMR® customers, ensuring that research sites and sponsors can transition smoothly into utilizing enhanced research capabilities.
The expanded platform will also appeal to the biopharma industry, allowing Paradigm Health to cater to 15 of the top 20 global biopharma entities. This will facilitate the execution of pragmatically designed Phase IV clinical trials as part of regular care, expediting the generation of critical evidence post-market approval.
Both Paradigm Health and Flatiron Health share a resolute commitment to enhancing clinical trial accessibility and representation on a global scale. To this end, they recognize the importance of modernizing research methodologies and broadening participation among diverse patient populations. While financial terms of the deal remain undisclosed, the anticipated benefits of this collaboration are poised to set a new benchmark in oncology research.
About Flatiron Health Flatiron Health is revolutionizing oncology care through advanced health technology solutions. The company aims to leverage data intelligently for the improvement of care processes and patient experiences. Their commitment to real-world evidence and innovative trial methodologies is pivotal to evolving cancer treatment paradigms.
About Paradigm Health Paradigm Health is dedicated to reshaping the clinical research environment. Their innovative platform seeks to eliminate barriers that prevent patients from accessing clinical trials, thus promoting equity in healthcare. Backed by prominent investors and driven by a mission to streamline research processes, Paradigm Health is committed to bringing critical therapies to those in need swiftly.
Frequently Asked Questions
What is the significance of the Paradigm Health and Flatiron Health acquisition?
This acquisition creates a substantial oncology research network, enhancing access to clinical trials for diverse patient populations.
How will this partnership affect clinical trial accessibility?
The collaboration allows clinical trials to reach community practices, ensuring wider patient participation and representation.
What technologies are being integrated as part of this partnership?
Paradigm Health's AI-powered platform will combine with Flatiron's clinical research solutions to improve trial efficiency and access.
Who benefits from the expanded network?
Patients across the U.S. will benefit from improved access to clinical trials and state-of-the-art treatment options.
What is the ultimate goal of Paradigm Health and Flatiron Health?
The two organizations aim to modernize clinical research, making it more efficient, equitable, and accessible globally.
