LONDON (ShareCast) - (Sharecast News) - French technology group Dassault Systemes has agreed to buy US clinical trial company Medidata Solutions in a $5.8bn deal.
Dassault will pay $92.25 per share in cash for Medidata in a deal that has been unanimously approved by the boards of directors of both companies.

Bernard Charlès, vice chairman and chief executive of Dassault, said: "Today marks a significant milestone for the life sciences industry and the value of the virtual world to address the complexity of developing personalised medicine and patient-centric experiences. Multidiscipline scientific innovation and industrial performance call for a platform approach connecting the dots between people, ideas and data.

"We are now well positioned to be the enabler of the life sciences industry transformation, illustrating our company's purpose of harmonising product, nature and life."

Medidata's clinical expertise and cloud-based solutions power the development and commercialisation of smarter therapies for 1,300 customers worldwide, including pharmaceutical companies and biotechs, contract research organisations and medical centres and sites. Dassault noted that 13 of the top 15 drugs sold in 2018 were powered by Medidata's technology.

In the year to the end of December 2018, Medidata generated revenue of $636m.

Medidata chairman and CEO Tarek Sherif said: "Our mission to get the right treatment, to the right patient, at the right time has fuelled our 20-year journey of innovation and commitment to the life sciences industry.

"We share common vision, values and passion with Dassault Systèmes, and our combined talents will empower the life sciences industry with an end-to-end business platform."

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