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News : Genpact Accelerates Strategy to Establish New Industry Standard for Pharmacovigilance Using AI and Machine Learning
New York, NY, USA, June 11, 2018 -- Genpact (NYSE: G), a professional services firm focused on delivering digital transformation, announced that it has signed a definitive agreement to acquire Commonwealth Informatics, Inc. (CI), a 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.
With this acquisition, the Genpact pharmacovigilance artificial intelligence (PVAI) suite of capabilities is expected to establish a closed-loop, machine-learning system across the entire pharmacovigilance information value chain. Incorporating the Commonwealth Vigilance Workbench (CVW) software and the 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.
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"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."
"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."
Posted by Veronica Silva Cusi, news correspondent
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Genpact is a Business process outsourcing (BPO) company in India. It was formerly a GE owned company called GE Capital International Services or GECIS. It operates from India, China, Guatemala, Hungary, México, Morocco, the Philippines, Poland, the Netherlands, Romania, Spain, South Africa, and the United States.
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