Medidata Solutions is an American technology company that develops and markets

software as a service Software as a service (SaaS ) is a software licensing and delivery model in which software is licensed on a subscription basis and is centrally hosted. SaaS is also known as "on-demand software" and Web-based/Web-hosted software. SaaS is con ...

(SaaS) for

clinical trials Clinical trials are prospective biomedical or behavioral research studies on human participants designed to answer specific questions about biomedical or behavioral interventions, including new treatments (such as novel vaccines, drugs, dietar ...

. These include protocol development, clinical site collaboration and management;

randomization Randomization is the process of making something random. Randomization is not haphazard; instead, a random process is a sequence of random variables describing a process whose outcomes do not follow a deterministic pattern, but follow an evolution d ...

and trial supply management; capturing patient data through web forms,

mobile health mHealth (also written as m-health or mhealth) is an abbreviation for mobile health, a term used for the practice of medicine and public health supported by mobile devices. The term is most commonly used in reference to using mobile communication ...

(mHealth) devices, laboratory reports, and imaging systems; quality monitor management; safety event capture; and monitoring and business analytics. Headquartered in New York City, Medidata has locations in

China China, officially the People's Republic of China (PRC), is a country in East Asia. It is the world's most populous country, with a population exceeding 1.4 billion, slightly ahead of India. China spans the equivalent of five time zones and ...

Japan Japan ( ja, 日本, or , and formally , ''Nihonkoku'') is an island country in East Asia. It is situated in the northwest Pacific Ocean, and is bordered on the west by the Sea of Japan, while extending from the Sea of Okhotsk in the north ...

Singapore Singapore (), officially the Republic of Singapore, is a sovereign island country and city-state in maritime Southeast Asia. It lies about one degree of latitude () north of the equator, off the southern tip of the Malay Peninsula, borde ...

South Korea South Korea, officially the Republic of Korea (ROK), is a country in East Asia, constituting the southern part of the Korea, Korean Peninsula and sharing a Korean Demilitarized Zone, land border with North Korea. Its western border is formed ...

the United Kingdom The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain, is a country in Europe, off the north-western coast of the continental mainland. It comprises England, Scotland, Wales and North ...

, and

the United States The United States of America (U.S.A. or USA), commonly known as the United States (U.S. or US) or America, is a country primarily located in North America. It consists of 50 states, a federal district, five major unincorporated territorie ...

. Medidata's customers include pharmaceutical, biotechnology, medical device, and diagnostic companies; academic and government institutions; contract research organizations; and other life sciences organizations around the world that develop and bring medical therapies and products to market.

History

The company was founded in June 1999 by Tarek Sherif,

Glen de Vries Glen de Vries (June 29, 1972 – November 11, 2021) was an American entrepreneur in the field of medical science and pharmacology. He was the co-founder and co-CEO of Medidata Solutions. Early life and education De Vries grew up in New York (s ...

and Ed Ikeguchi.Kaihan Krippendorff
"The 5-Part Formula For Growth,"
''

Fast Company ''Fast Company'' is a monthly American business magazine published in print and online that focuses on technology, business, and design. It publishes six print issues per year. History ''Fast Company'' was launched in November 1995 by Alan Web ...

'', August 2, 2012.Bertha Coombs
"Medidata IPO Bookends CEO's 'American Dream',"

CNBC CNBC (formerly Consumer News and Business Channel) is an American basic cable business news channel. It provides business news programming on weekdays from 5:00 a.m. to 7:00 p.m., Eastern Time, while broadcasting talk sho ...

, June 25, 2009. In 1994, de Vries and Ikeguchi created OceanTek, a startup that developed Web applications for conducting clinical trials and was the precursor to Medidata.Glen de Vries
"Dance Lessons in Life,"
''

New York Times ''The New York Times'' (''the Times'', ''NYT'', or the Gray Lady) is a daily newspaper based in New York City with a worldwide readership reported in 2020 to comprise a declining 840,000 paid print subscribers, and a growing 6 million paid d ...

'', May 5, 2012. In 1999, they restarted the company as a new firm and, together with Sherif, formed Medidata, to provide online systems for designing and running clinical trials.Matthew Herper
"Rx For Software: Can Medidata Solutions Save Drug Companies Billions?"
''

Forbes ''Forbes'' () is an American business magazine owned by Integrated Whale Media Investments and the Forbes family. Published eight times a year, it features articles on finance, industry, investing, and marketing topics. ''Forbes'' also re ...

'', March 3, 2014. In 2004, they completed a $10 million round of financing with

Insight Venture Partners Insight Partners (previously Insight Venture Partners) is an American venture capital and private equity firm based in New York City. The firm invests in growth-stage technology, software and Internet businesses. History Insight Partners was fo ...

, and were later backed by investors including Milestone Venture Partners and Stonehenge Capital Fund.Claire Cin Miller
"OpenTable and Medidata Hope to End I.P.O. Drought,"
''New York Times'', February 2, 2009. Ikeguchi left the company in 2008, and de Vries moved from chief technology officer to president, with Tarek as chief executive officer. On January 26, 2009, Medidata filed to raise $86 million in an

initial public offering An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investment ...

(IPO). It made its IPO on the

Nasdaq Stock Market The Nasdaq Stock Market () (National Association of Securities Dealers Automated Quotations Stock Market) is an American stock exchange based in New York City. It is the most active stock trading venue in the US by volume, and ranked second ...

on June 25, 2009, with its market capitalization at $313 million.Scott Austin
"Medidata IPO Prices, No. 3 For Venture-Backed Companies,"
''

Wall Street Journal ''The Wall Street Journal'' is an American business-focused, international daily newspaper based in New York City, with international editions also available in Chinese and Japanese. The ''Journal'', along with its Asian editions, is published ...

'', June 24, 2009. It debuted on the Nasdaq at $18 per share. The company was ranked #11 on ''

Fortune Fortune may refer to: General * Fortuna or Fortune, the Roman goddess of luck * Luck * Wealth * Fortune, a prediction made in fortune-telling * Fortune, in a fortune cookie Arts and entertainment Film and television * ''The Fortune'' (1931 film) ...

'' magazine's 2017 Fortune Future 50 list,#51 on the ''Fortune'' 100 Fastest Growing Companies list, and #59 on the ''

'' list of Most Innovative Growth Companies, at a value of $3.3 billion as of May 2017. In 2018, Medidata was ranked #70 on ''

Barron's Barron's or Barrons may refer to: *Barron's Educational Series, a publisher of books, as well as college entrance exam preparation classes and materials, now an imprint of Kaplan Test Prep ** B.E.S. Publishing, the former owner of Barron's * ''Barr ...

'' 100 Most Sustainable Companies list. In December 2019, Medidata was acquired by Dassault Systèmes. Medidata now functions as a subsidiary.

Acquisitions

Software

Medidata offers a cloud-based platform for clients to build their own clinical trials and perform medical research. On the platform, physicians and scientists can collect and share clinical trial data. The company helps biopharmaceutical and medical device companies run clinical trials, and streamlines the process for life science firms designing the trials. As of 2017, Medidata customers include 18 of the world's top 25 pharmaceutical companies,Nick Paul Taylor
"Biogen switches to Medidata Rave, tipping balance of eClinical power further still,"
Fierce Biotech, July 21, 2016. with clients such as

Johnson & Johnson Johnson & Johnson (J&J) is an American multinational corporation founded in 1886 that develops medical devices, pharmaceuticals, and consumer packaged goods. Its common stock is a component of the Dow Jones Industrial Average and the company i ...

AstraZeneca AstraZeneca plc () is a British-Swedish multinational pharmaceutical and biotechnology company with its headquarters at the Cambridge Biomedical Campus in Cambridge, England. It has a portfolio of products for major diseases in areas includin ...

Amgen Amgen Inc. (formerly Applied Molecular Genetics Inc.) is an American multinational biopharmaceutical Corporation, company headquartered in Thousand Oaks, California. One of the world's largest independent biotechnology companies, Amgen was esta ...

Cancer Research UK Cancer Research UK (CRUK) is the world's largest independent cancer research organization. It is registered as a charity in the United Kingdom and Isle of Man, and was formed on 4 February 2002 by the merger of The Cancer Research Campaign and t ...

GlaxoSmithKline GSK plc, formerly GlaxoSmithKline plc, is a British multinational pharmaceutical and biotechnology company with global headquarters in London, England. Established in 2000 by a merger of Glaxo Wellcome and SmithKline Beecham. GSK is the ten ...

Novartis Novartis AG is a Swiss-American multinational pharmaceutical corporation based in Basel, Switzerland and Cambridge, Massachusetts, United States (global research).name="novartis.com">https://www.novartis.com/research-development/research-loc ...

and

Hoffmann-La Roche F. Hoffmann-La Roche AG, commonly known as Roche, is a Swiss multinational healthcare company that operates worldwide under two divisions: Pharmaceuticals and Diagnostics. Its holding company, Roche Holding AG, has shares listed on the SIX ...

.Phil Taylor
"Medidata plans $86m IPO,"
Outsourcing-Pharma.com, January 28, 2009. Clients also include biotechnology companies, government institutions, and contract research organizations. The company has two primary products. Medidata Rave EDC, its flagship product, introduced in 2001, is a single system for

electronic data capture An electronic data capture (EDC) system is a computerized system designed for the collection of clinical data in electronic format for use mainly in human clinical trials. EDC replaces the traditional paper-based data collection methodology to stre ...

and

clinical data management Clinical data management (CDM) is a critical process in clinical research, which leads to generation of high-quality, reliable, and statistically sound data from clinical trials. Clinical data management ensures collection, integration and availabi ...

, allowing client data to be accessible in one place."Medidata Solutions,"
Success Story. Accessed January 25, 2018. Medidata Rave Clinical Cloud, introduced in 2013, is a platform used for data capture and management of patient-related data for clinical operations. In February 2018, Medidata announced plans to launch virtual trials as a part of its platform's clinical trial products, allowing patients to participate remotely in drug development trials.

Locations

Headquartered in New York City, the company has additional offices in the United States in Boston, Massachusetts;

Iselin, New Jersey Iselin is an unincorporated community and census-designated place (CDP) located within Woodbridge Township, in Middlesex County, New Jersey.Houston, Texas Houston (; ) is the most populous city in Texas, the most populous city in the Southern United States, the fourth-most populous city in the United States, and the sixth-most populous city in North America, with a population of 2,304,580 in ...

;

San Francisco, California San Francisco (; Spanish for " Saint Francis"), officially the City and County of San Francisco, is the commercial, financial, and cultural center of Northern California. The city proper is the fourth most populous in California and 17th ...

;

Davis, California Davis is the most populous city in Yolo County, California. Located in the Sacramento Valley region of Northern California, the city had a population of 66,850 in 2020, not including the on-campus population of the University of California, Da ...

;

San Mateo, California San Mateo ( ; ) is a city in San Mateo County, California, on the San Francisco Peninsula. About 20 miles (32 km) south of San Francisco, the city borders Burlingame to the north, Hillsborough to the west, San Francisco Bay and Foster C ...

; and

Cincinnati, Ohio Cincinnati ( ) is a city in the U.S. state of Ohio and the county seat of Hamilton County. Settled in 1788, the city is located at the northern side of the confluence of the Licking and Ohio rivers, the latter of which marks the state line wit ...

. Internationally, Medidata maintains offices in

London, England London is the capital and largest city of England and the United Kingdom, with a population of just under 9 million. It stands on the River Thames in south-east England at the head of a estuary down to the North Sea, and has been a major s ...

; Düsseldorf, Germany;

Tokyo, Japan Tokyo (; ja, 東京, , ), officially the Tokyo Metropolis ( ja, 東京都, label=none, ), is the capital and List of cities in Japan, largest city of Japan. Formerly known as Edo, its metropolitan area () is the most populous in the world, ...

;

Beijing, China } Beijing ( ; ; ), alternatively romanized as Peking ( ), is the capital of the People's Republic of China. It is the center of power and development of the country. Beijing is the world's most populous national capital city, with over 21 ...

;

Shanghai, China Shanghai (; , , Standard Mandarin pronunciation: ) is one of the four direct-administered municipalities of the People's Republic of China (PRC). The city is located on the southern estuary of the Yangtze River, with the Huangpu River flowin ...

;

Seoul, South Korea Seoul (; ; ), officially known as the Seoul Special City, is the capital and largest metropolis of South Korea.Before 1972, Seoul was the ''de jure'' capital of the Democratic People's Republic of Korea (North Korea) as stated iArticle 103 of ...

;

Pune, India Pune (; ; also known as Poona, ( the official name from 1818 until 1978) is one of the most important industrial and educational hubs of India, with an estimated population of 7.4 million As of 2021, Pune Metropolitan Region is the largest i ...

and

Frankfurt, Germany Frankfurt, officially Frankfurt am Main (; Hessian: , "Frank ford on the Main"), is the most populous city in the German state of Hesse. Its 791,000 inhabitants as of 2022 make it the fifth-most populous city in Germany. Located on its na ...

Legal issues

In September 2014, Medidata discovered that it had been the victim of a fraudulently induced transfer of nearly $4.8 million. The company filed an insurance claim for its loss, which was denied by its insurer, Federal Insurance Co., a subsidiary of Chubb Ltd. The insurer claimed that its policy only covered losses resulting from fraudulent entry or hacking into a computer system and that in this case the transfer was voluntary, while Medidata argued that the thief's actions did come within the policy's definition of covered losses.Sam Boyer
"Judge orders Federal Insurance to pay up $4.8 million claim,"
''Insurance Business'', July 25, 2017. On July 21, 2017, a federal court in New York ruled that Medidata was entitled to coverage from Federal Insurance for the $4.8 million loss. Federal Insurance's appeal is pending. On January 26, 2017, Medidata filed a lawsuit in federal court in New York against five former employees and Veeva Systems Inc., in which it accused Veeva of trade secret theft. The complaint alleges that Veeva induced former Medidata employees to reveal confidential information and trade secrets that belong to Medidata. On August 16, 2017, the court denied Veeva's motion to compel arbitration, and on September 20, 2017, Medidata filed its Second Amended Complaint, which names Veeva as the only defendant. The case is ongoing."Medidata Solutions, Inc. v. Veeva Systems Inc. et al,"
docketalarm.com, as of February 20, 2018.

References

External links

*
Medidata NEXT website
{{Contract research organization, state=collapsed Software companies based in New York (state) Clinical trials Clinical data management Patient reported outcome measures Publicly traded companies based in New York City 1999 establishments in New York (state) Software companies of the United States Technology companies Cloud applications Software industry Medical research Clinical research Medical software Health information technology companies Cloud computing providers Software companies established in 1999