Medidata Solutions is an American

technology company A technology company (or tech company) is a company that focuses primarily on the manufacturing, support, research and development of—most commonly computing, telecommunication and consumer electronics–based—technology-intensive products and ...

that develops and markets

software as a service Software as a service (SaaS ) is a cloud computing service model where the provider offers use of application software to a client and manages all needed physical and software resources. SaaS is usually accessed via a web application. Unlike o ...

(SaaS) for

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

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

randomization Randomization is a statistical process in which a random mechanism is employed to select a sample from a population or assign subjects to different groups.Oxford English Dictionary "randomization" The process is crucial in ensuring the random alloc ...

and trial supply management; capturing patient data through web forms, mobile health (mHealth) devices, laboratory reports, and imaging systems; quality monitor management; safety event capture; and monitoring and business analytics. Headquartered in

New York City New York, often called New York City (NYC), is the most populous city in the United States, located at the southern tip of New York State on one of the world's largest natural harbors. The city comprises five boroughs, each coextensive w ...

, Medidata has locations in

China China, officially the People's Republic of China (PRC), is a country in East Asia. With population of China, a population exceeding 1.4 billion, it is the list of countries by population (United Nations), second-most populous country after ...

Japan Japan is an island country in East Asia. Located in the Pacific Ocean off the northeast coast of the Asia, Asian mainland, it is bordered on the west by the Sea of Japan and extends from the Sea of Okhotsk in the north to the East China Sea ...

Singapore Singapore, officially the Republic of Singapore, is an island country and city-state in Southeast Asia. The country's territory comprises one main island, 63 satellite islands and islets, and one outlying islet. It is about one degree ...

South Korea South Korea, officially the Republic of Korea (ROK), is a country in East Asia. It constitutes the southern half of the Korea, Korean Peninsula and borders North Korea along the Korean Demilitarized Zone, with the Yellow Sea to the west and t ...

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 Northwestern Europe, off the coast of European mainland, the continental mainland. It comprises England, Scotlan ...

, and

the United States The United States of America (USA), also known as the United States (U.S.) or America, is a country primarily located in North America. It is a federal republic of 50 U.S. state, states and a federal capital district, Washington, D.C. The 48 ...

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

Fast Company ''Fast Company'' is an American business magazine published monthly in print and online, focusing on technology, business, and design. It releases six print issues annually. History ''Fast Company'' was founded in November 1995 by Alan Webb ...

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

CNBC CNBC is an American List of business news channels, business news channel owned by the NBCUniversal News Group, a unit of Comcast's NBCUniversal. The network broadcasts live business news and analysis programming during the morning, Day ...

, June 25, 2009.Sally Ann Flecker
"Clinically Proven,"
Carnegie Mellon Today, April 29, 2015. Medidata's customers include

pharmaceutical Medication (also called medicament, medicine, pharmaceutical drug, medicinal product, medicinal drug or simply drug) is a drug used to diagnose, cure, treat, or prevent disease. Drug therapy ( pharmacotherapy) is an important part of the ...

biotechnology Biotechnology is a multidisciplinary field that involves the integration of natural sciences and Engineering Science, engineering sciences in order to achieve the application of organisms and parts thereof for products and services. Specialists ...

, 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. In October of 2021 he flew into space on Blue Origin NS- ...

and Ed Ikeguchi. 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'' (''NYT'') is an American daily newspaper based in New York City. ''The New York Times'' covers domestic, national, and international news, and publishes opinion pieces, investigative reports, and reviews. As one of ...

'', 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 founded by B. C. Forbes in 1917. It has been owned by the Hong Kong–based investment group Integrated Whale Media Investments since 2014. Its chairman and editor-in-chief is Steve Forbes. The co ...

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

Insight Venture Partners Insight Venture Management, LLC (commonly referred to as Insight Partners and previously Insight Venture Partners) is a global venture capital and private equity firm that invests in high-growth technology, software, and internet businesses. The ...

, 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 investm ...

(IPO). It made its IPO on the

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

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'' (''WSJ''), also referred to simply as the ''Journal,'' is an American newspaper based in New York City. The newspaper provides extensive coverage of news, especially business and finance. It operates on a subscriptio ...

'', 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 * Fate * Fortune, a prediction made in fortune-telling * Fortune, in a fortune cookie Arts and entertainment Film and television * ''The Fortune'' (19 ...

'' 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'' (stylized in all caps) is an American weekly magazine and newspaper published by Dow Jones & Company, a division of News Corp, since 1921. Founded as ''Barron's National Financial Weekly'' in 1921 by Clarence W. Barron (1855–19 ...

'' 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 pharmaceutical, biotechnology, and medical technologies corporation headquartered in New Brunswick, New Jersey, and publicly traded on the New York Stock Exchange. Its common stock is a c ...

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

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

Cancer Research UK Cancer Research UK (CRUK) is the world's largest independent cancer research organisation. 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 (an acronym from its former name GlaxoSmithKline plc) is a British Multinational corporation, multinational Pharmaceutics, pharmaceutical and biotechnology company with headquarters in London. It was established in 2000 by a Mergers an ...

Novartis Novartis AG is a Swiss multinational corporation, multinational pharmaceutical company, pharmaceutical corporation based in Basel, Switzerland. Novartis is one of the largest pharmaceutical companies in the world and was the eighth largest by re ...

and

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

. 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 str ...

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 availa ...

, 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 Boston is the capital and most populous city in the Commonwealth (U.S. state), Commonwealth of Massachusetts in the United States. The city serves as the cultural and Financial centre, financial center of New England, a region of the Northeas ...

;

Iselin, New Jersey Iselin () is an unincorporated community and census-designated place (CDP) located within Woodbridge Township, in Middlesex County, in the U.S. state of New Jersey.

;

Houston, Texas Houston ( ) is the List of cities in Texas by population, most populous city in the U.S. state of Texas and in the Southern United States. Located in Southeast Texas near Galveston Bay and the Gulf of Mexico, it is the county seat, seat of ...

;

San Francisco, California San Francisco, officially the City and County of San Francisco, is a commercial, Financial District, San Francisco, financial, and Culture of San Francisco, cultural center of Northern California. With a population of 827,526 residents as of ...

;

Davis, California Davis is the most populous city in Yolo County, California, United States. 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 ...

;

San Mateo, California San Mateo ( ) is the most populous city in San Mateo County, California, United States, on the San Francisco Peninsula. It is part of the San Francisco Bay Area metropolitan region, and is located about south of San Francisco. San Mateo border ...

; and

Cincinnati, Ohio Cincinnati ( ; colloquially nicknamed Cincy) is a city in Hamilton County, Ohio, United States, and its county seat. Settled in 1788, the city is located on the northern side of the confluence of the Licking River (Kentucky), Licking and Ohio Ri ...

. Internationally, Medidata maintains offices in

London, England London is the Capital city, capital and List of urban areas in the United Kingdom, largest city of both England and the United Kingdom, with a population of in . London metropolitan area, Its wider metropolitan area is the largest in Wester ...

; Düsseldorf, Germany;

Tokyo, Japan Tokyo, officially the Tokyo Metropolis, is the capital of Japan, capital and List of cities in Japan, most populous city in Japan. With a population of over 14 million in the city proper in 2023, it is List of largest cities, one of the most ...

;

Beijing, China Beijing, Chinese postal romanization, previously romanized as Peking, is the capital city of China. With more than 22 million residents, it is the world's List of national capitals by population, most populous national capital city as well as ...

;

Shanghai, China Shanghai, Shanghainese: , Standard Chinese pronunciation: is a direct-administered municipality and the most populous urban area in China. The city is located on the Chinese shoreline on the southern estuary of the Yangtze River, with the ...

;

Seoul, South Korea Seoul, officially Seoul Special Metropolitan City, is the capital city, capital and largest city of South Korea. The broader Seoul Metropolitan Area, encompassing Seoul, Gyeonggi Province and Incheon, emerged as the world's List of cities b ...

;

Pune, India Pune ( ; , ISO: ), previously spelled in English as Poona ( the official name until 1978), is a city in the state of Maharashtra in the Deccan plateau in Western India. It is the administrative headquarters of the Pune district, and of Pune ...

and

Frankfurt, Germany Frankfurt am Main () is the most populous city in the German state of Hesse. Its 773,068 inhabitants as of 2022 make it the fifth-most populous city in Germany. Located in the foreland of the Taunus on its namesake Main, it forms a contin ...

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 data management Publicly traded companies based in New York City 1999 establishments in New York (state) Software companies of the United States Technology companies based in New York City Software industry Medical research organizations Health information technology companies Cloud computing providers Software companies established in 1999