IMS Health has acquired TTC, a benchmarking solutions and analytics company for the life sciences that helps plan and negotiate clinical trial costs. TTC offers a set of clinical trial cost benchmarks, budgeting and negotiation tools aimed at enhancing the speed, efficiency and cost-effectiveness of trial planning and management activities.
IMS will integrate its evidence-based, patient and treatment outcomes insights with TTC’s cost data drawn from organizations that conduct nearly 80% of all commercial clinical studies. TTC offers GrantPlan, one of the largest clinical grant benchmarking and negotiation databases, serving top pharmaceutical companies and the largest CROs.
TTC’s benchmark data and budgeting/negotiation services will be available through IMS’s Clinical Trial Optimization unit, part of the company’s Healthcare Value Solutions business. The TTC offerings expand IMS solutions in the areas of protocol feasibility, country allocation, site selection, and enrollment planning and forecasting.
“This acquisition marks an important step in further expanding IMS’s capabilities in the pharma R&D space,” said Andrew Kress, senior vice president, Healthcare Value Solutions, IMS. “The combination of TTC’s portfolio and IMS information assets will fuel ongoing innovation, enabling clients to base vital budgeting and negotiation decisions on real-world data and benchmarks.”
“We’re extremely pleased to join the IMS team,” said Harold Glass, Ph.D., TTC president and chief executive officer. “Our clients are actively seeking more data and analytics to guide their decision making and drive improvements in a process that today is highly inefficient. This combination makes IMS a leading partner for healthcare organizations in the planning and execution of clinical trials built on an evidence-based foundation.”