The deal was financed via new co-lead investors Morgan Stanley Expansion Capital and Ally Bridge. Norwest Venture Partners and current investors also joined the funding round.
ClinEdge caters to clinical research sites, pharmaceutical companies and clinical research organisations. It offers site conduct and patient access solutions with trial expediting strategies.
The acquisition, which also comprises GuideStar Research and BTC of New Bedford , is expected to result in a large end-to-end healthcare-enabling research firm.
Elligo Health added that the deal will boost its global scale through the merger of data, technology and services expertise to further its aim to deliver clinical research as a care option worldwide and grow capacity to expedite patient-centric trials.
Elligo Health Research CEO John Potthoff said: “Building on our access to over 150 million diverse patients with EHR data, ClinEdge provides additional global scale for our customers in the US and Europe to enable the rapid acceleration of clinical trials through healthcare supporting all trial designs – traditional, hybrid, and direct-to-patient.
“Add their full range of research practice management and clinical services, and our unified company is set to continue revolutionising the way clinical trials are conducted from pre-identification of patients through healthcare to study enrolment, conduct, and data delivery.”
ClinEdge customers will continue to have access to their existing services, as well as obtain access to research technology, data analytics and accelerated trials platform of Elligo Health.
Furthermore, the combination is anticipated to leverage technology to address trial conduct drawbacks and challenges that mainly affect patient experience.
The partnership will also support sites to fast-track research and enhance access to research.