Gladstone-based Precision for Value announced Wednesday that it has acquired Redwood Outcomes, an international health economics and outcomes research company.
"More than ever, companies in the pharmaceutical and biotech industries need to demonstrate which of the many competing treatments on the market will provide the best value to patients," Dan Renick, president, Precision for Value, said in a prepared statement. "Redwood Outcomes addresses the evolving and intensifying need for rigorous comparative and cost-effectiveness evidence of medical interventions to support health care and reimbursement decision making."
The acquisition will strengthen Precision’s existing health economics and outcomes research capabilities.
"With the acquisition of Redwood, Precision for Value continues to bring together the industry's foremost experts and academic scholars in health economics, evidence synthesis, and health policy, Darius Lakdawalla, chief strategy officer, Precision for Value, said in a prepared statement. “Redwood also positions Precision to expand rapidly in the European marketplace as they are a leader in the complex comparative effectiveness analyses that are often required by health technology assessment agencies."
"By joining with Precision, Redwood Outcomes will now enable our clients to access the most innovative expertise and experience in health economics and outcomes research to demonstrate product value, from early-stage planning through payer submissions," Edward Mills, co-founder of Redwood Outcomes, said in a prepared statement.
Financial terms of the deal were not disclosed.