Consolidation Trend Pressures Independent CROs to Refocus Strategy

Barry Lake, CEO, Devana Solutions, LLC
Barry Lake, CEO, Devana Solutions, LLC

(CHARLESTON, SC) November 30th, 2017 — An ongoing industry consolidation of contract research organizations (CROs) whose services are used by large drug manufacturers is a significant trend that will only increase in the days to come, says Barry Lake, chief executive officer at Devana Solutions, LLC.

Sponsors are putting pressure on CROs to be more efficient as they also seek to broaden their trial coverage in a wider swath of therapy indications, Lake says. “Down at the site level, this consolidation should be a bit of a wake-up call,” in part because it’s been such a fragmented market for so long, he adds.

Related to this trend is the fact that site selection for clinical trials remains one of the biggest challenges for sponsors and CROs, with almost half of sites ultimately enrolling zero or one patient, according to Lake. Those under-performing sites cost sponsors more than $4 billion annually.

“The challenge of sorting good and bad sites is difficult in a fragmented cottage industry with very little publicly available data on research site capabilities,” Lake says.

In Lake’s view, sites have two basic choices when it comes to addressing the trend toward consolidation as it gains momentum: 1) redouble efficiencies and strategies to remain independent and competitive or 2) make themselves a more attractive acquisition target. Sites choosing the latter strategy can improve their visibility and cash flow if they better position themselves to meet a sponsor’s focus.

Using Data Analytics to Optimize Site Performance and Prepare for the Wave of Consolidation Impacting the Site Sector – Join Lake at ACRP 2018 to learn steps you can take today to implement processes and use data analytics to tout and display your site’s therapeutic and operational strengths while proactively shoring up weaknesses. Learn More

For sites that wish to remain their own boss, so to speak, Lake says the key is taking a hard look at operational efficiencies to assess “what you’re good at and where you’re weak.” For example, if it is taking two weeks for the site to accomplish a feasibility analysis chore for sponsors that should be done in three days, there are issues to address.

It’s not as easy it might sound, Lake admits. Sites are under such extreme day-to-day pressures, it can be difficult to take a pause and consider the long-term, bigger picture.

Author: Michael Causey

IACT HEALTH IS THE LATEST GROUP OF SITES TO ADOPT DEVANA SOLUTIONS® IGNITE FOR SITES, A TRANSFORMATIVE TECHNOLOGY PLATFORM

(CHARLESTON, SC) November 29th, 2017 — Iact Health has just become the latest network of clinical research sites to take advantage of Devana Solutions® IGNITE FOR SITES advanced central data analytics technology for clinical trial sites. The decision puts the 12-year old network of sites in good company as many of the industry leading sites and networks that have adopted Devana’s IGNITE can report not only their historical performance metrics but can also capture and deliver their site timing and performance metrics to Sponsors and CROs in real time. This will enable Iact Health and other leading trial site networks on IGNITE FOR SITES to align therapeutically and operationally with those Sponsors or CROs seeking to conduct clinical trials where Iact’s performance is second to none.

“Ultimately, this alignment between the top trial sites, Sponsors and CROs through Devana Solutions technology is at the heart of our mission,” explains Barry Lake, Devana’s CEO. “The greatest impact we can make on lowering drug development costs is through cutting clinical trial cycle times and our platform aims to do just that.”

“Prior to implementing Devana Solutions IGNITE FOR SITES system, we were struggling to effectively track our site metrics through a combination of our CTMS (Clinical Trial Management Software) and a myriad of Excel Spreadsheets,” states Felicia Irvin, Vice President of Sales and Marketing at Iact Health. “Now, the Devana technology, has everything in one centralized place and we can quickly and efficiently access our site’s performance metrics to analyze and complete a Sponsor Feasibility questionnaire in minutes.”

Iact Health is an integrated network of 10 strong investigative sites with a wealth of clinical trial experience in over 25 therapies with particular strength in Pulmonary Disease, Infectious Disease and Dermatology. Led by Dr. Jeff Kingsley, a clinical trial industry leader, and headquartered in Columbus, Georgia, Iact Health has completed well over 300 studies. Over 100 Physician Investigators have conducted studies with the Iact Health site network and the group employs 11 full-time Clinical Research Coordinators (CRC). Iact has won awards ranging from “Top 10 Best Places to Work in Georgia” according to Georgia Trend Magazine (2009), the “Psychologically Healthy Workplace Award” from the Georgia Psychological Association (2012) and more recently, the “Rockstar Award” as bestowed by the Georgia Department of Economic Development (2016).

ABOUT IACT HEALTH:

IACT Health is a wholly owned clinical research company staffed entirely by specialists. Our specialists range from patient coordinator specialists to regulatory specialists to disease specialists. Across Georgia, our staff applies the highest level of expertise to conduct studies in Pharmaceutical, Biotech and Medical Devices industries. We pride ourselves on providing the highest level of quality care for patients, and our guarantee of optimal results for CROs, Sponsors, and physicians.

ABOUT DEVANA SOLUTIONS LLC:

Devana Solutions®, LLC is a SaaS provider driven by a core belief that data transparency through technology is key in selection of the top performing research sites to align with pharmaceutical Sponsors and CROs to reduce drug development costs and cure disease. Devana Solutions® offers two platforms, IGNITE FOR SITES and MATCH PERFORMANCE, to provide historical and real-time data capture, aggregation and display to drug development stakeholders. To learn more visit https://devanasolutions.com.

FOR FURTHER INFORMATION, PLEASE CONTACT:

For Devana Solutions, LLC:

Emily Wike

ewike@devanasolutions.com

For Iact Health

Felicia Irvin

Tel: 706-596-5425

firvin@iacthealth.com