Parexel has completed the purchase of the Natural Language Processing (NLP) technology assets and transfer of key personnel of Roam Analytics, Inc., a healthcare software company based in San Francisco, CA. This strategic acquisition strengthen Parexel’s Artificial Intelligence (AI) and Machine Learning (ML) capabilities to drive new innovations across drug development and life sciences. Financial terms were not disclosed.
It also enhances Parexel’s Pharmacovigilance and other Real-World Data capabilities through the application of NLP technology across the company’s various data sets to further streamline and extract insights from unstructured data.
Roam Analytics’ technology platform enables organizations to leverage any source of healthcare language data, from clinical notes to patient surveys, regulatory documents, marketing materials, telemedicine interactions, social media and more, to improve operational workflows.
“Over the course of our partnership with Roam Analytics, its technology has shown exceptional strength and reliability in not only reading a wide range of clinical data sources, but also in annotating and categorizing data for leading life sciences companies that we serve,” said Michelle Hoiseth, Chief Data Officer, Parexel. “By integrating the Roam Analytics’ technology into Parexel’s suite of services, we’ll be able to provide customers with an added level of safety and security and pursue our aim to reduce the time and cost of developing new treatments and get them in the hands of patients sooner.”
