PhillyTechNews Dally Page 5/24: Microsoft and Publicis double down on AI, enterprise and cloud services; the end of StumbleUpon.



PhillyTechNews Daily Page 5/23: Health IT Summit in Philadelphia discusses Blockchain; Verizon Drops Plan to Build its Own OTT TV Service




Concentra Analytics, UK enterprise SaaS company with US base in Philly, gets $56.4 million investment

Tom Paine




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Companies such as SAP and Qlik both started US units around Philly when they were still relatively small outfits from Europe. Now another young, promising import with deep funding is growing in Philly.

Concentra Analytics, a London-based SaaS and data analytics company, attracted a $56.4 million investment led by One Peak Partners , with paticipation from Morgan Stanley Expansion Capital and others. Concentra’s flagship product, OrgVue, is a leading solution for HR analytics, organisation design and workforce planning.

Concentra's US base is in Philadelphia, with offices at 1600 Market Street. According to LinkedIn, it appears to have about 10 employees based here (out of 170 globally). Russ Clarke is President, North America for Concentra OrgVue.

Concentra says revenue would be around 20 million pounds ($27 million) this year, up from 8.3 million pounds two years ago.

A major planned use of the new capital is international expansion.

“We’ve been cautious to date and that was prudent,” Concentra founder & CEO Rupert Morrison told Reuters. “But we’ve proved that we can make a profit, we’ve proved that we can scale and grow and have a world beating product, and now is the time to try and grab the market as fast as possible.”


PhillyTechNews Daily Page 5/20: Happy #ClinicalTrialsDay, Comcast still plotting v Disney for Fox




Sungard AS sells Assurance software business to Atlanta PE firm

Tom Paine




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Sungard Availability Services (Sungard AS), Wayne, has sold its Assurance Business Continuity Management Planning (BCMP) software business to an Atlanta private equity investor, Resurgens Technology Partners.

Sungard originally acquired the businesss, then known as Strohl Systems , in 2008. During its ownership Sungard helped Strohl convert from an on-premise product to being a completely SaaS-based solution. Assurance helps customers plan for recovering from major business disruptions. Sungard apparently wants to focus on offering availability services rather than software.

Assurance Software will remain in Wayne, while emphasizing strengthening partnerships with companies including Sungard AS and Dell Boomi.

Sungard Availability was spun off from SunGard Data Systems in 2004. At that time it had about $1.4 billion in revenue and was transitioning to supporting cloud environments. However, since the spinoff Sungard AS has not made much financial information available publicly.



PhillyTechNews Daily Page 5/18: Trump said to have pushed his postmaster general to double rate on Amazon; ZTE: management changes may win a reprieve from U.S. sanctions





"There is clearly the potential to triple the value of this company. We believe that is only a matter of time," McDermott told investors


PhilllyTechNews Daily Page 5/17: FanDuel in talks to be acquired; VA signs contract with Cerner for an electronic health record system

SAP exec on company's mindfulness courses: “This is no hippy-dippy stuff.”

Statement by Acting Secretary Robert Wilkie
VA signs contract with Cerner for an electronic health record system






Veeva Introduces Next-Generation Commercial Data Warehouse for Life Sciences


Veeva Introduces Next-Generation Commercial Data Warehouse for Life Sciences

Veeva Nitro eliminates the time and effort of custom data warehouse development and maintenance with new industry-specific cloud solution

PHILADELPHIA — 2018 Veeva Commercial & Medical Summit — May 15, 2018 — Veeva Systems (NYSE:VEEV) today introduced a new commercial data warehouse for life sciences. Veeva Nitro eliminates the burden of custom-built data warehouses with an industry-specific data model and standard integrations that unify companies’ most important data sources. Now the life sciences industry will have a ready-to-use commercial data warehouse in the cloud that is tailored to its needs with the ease of implementation, configuration, and ongoing enhancements that come with a packaged software solution. With Veeva Nitro, the industry will finally have the right commercial data foundation for artificial intelligence (AI) and analytics to deliver business insights faster.

“Custom data warehouses are inherently inflexible, so it can take weeks to get answers to important questions every time a new data source is added or systems change,” said Dan Utzinger, vice president and CIO at Intra-Cellular Therapies, and former VP of IT at Eisai. “An industry-specific commercial data warehouse in the cloud provides a significant opportunity to accelerate speed to value by delivering actionable insights for better decision-making, as well as lay the foundation to fully leverage the power of advanced analytics and AI.”

Because of the lack of a high-quality, packaged commercial data warehouse solution, companies build and maintain their own, requiring significant time and resources. These custom-built solutions are not quickly adaptable as business requirements evolve and data structures and sources change. This delays insights from reaching the business and leaves organizations ill-equipped to support AI.

“A packaged commercial data warehouse in the cloud has the potential to be a game changer for life sciences,” said Eric Newmark, program vice president for IDC’s cloud, SaaS, and industry cloud practice. “It’s encouraging to see the next evolution of industry cloud software will include a data warehouse built for life sciences in an effort to finally make custom data warehouses the exception, not the rule.”

Veeva Nitro is a global solution that meets organizations’ unique regional requirements, including specialized data sources and business processes. Its extensible data model is based on deep industry best practices, while seamless integration with Veeva CRM Suite and Veeva Vault PromoMats automatically syncs all customer activity data and information about a company’s content and its usage into the data warehouse. Also, industry data connectors are capable of bringing together data from the most common sources such as prescription, sales, formulary, and claims data, including regional data from IQVIA and Encise.

Veeva Nitro is analytics-ready so companies can get business insights faster. Customers have the flexibility to use the business intelligence (BI) and AI tools of their choice, as well as deliver tailored data visualization to field teams through Veeva CRM MyInsights to immediately generate insights and drive informed action.

“Veeva aims to eliminate the burden of custom-built data warehouses to help customers execute with much greater speed and agility,” said Peter Gassner, Veeva CEO and founder. “Veeva Nitro will bring the right data together so customers can uncover insights that were never before possible and enable intelligent customer engagement.”

Veeva Nitro is built on Amazon Redshift — a powerful petabyte-scale data warehouse infrastructure in the cloud — to ensure the highest levels of scalability and fast-query performance even on the largest data sets.

In other news today, Veeva announced new mobile innovations in Veeva CRM to empower field teams with the right information they need from any device. Read our press release to learn how Veeva CRM’s new real-time architecture and Sunrise user interface improve field execution and productivity.

Veeva Nitro is available today in Japan, and is expected to be available in North America at the end of 2018. Learn more at veeva.com/Nitro.

What the Industry is Saying About Veeva Nitro:

“The current explosion of data comes as a double-edged sword. It can offer customer insights in ways that were never before possible, but it can also overwhelm and frustrate organizations that are not equipped to harness it,” said David Ehrlich, president and CEO of Aktana. “Veeva Nitro will modernize data warehousing and establish a flexible cloud foundation that enables Aktana to better anticipate and serve the decision support needs of our customers.”

“Increasing data’s availability and reliability enhances analytics’ value in driving more opportunities. Combining Veeva Nitro with Qlik’s associative engine will enhance life sciences’ ability to execute at a higher level across the organization and in the field through analytics,” said Mike Potter, CTO at Qlik. “As a longtime Veeva partner, we’re excited about the tremendous potential of Veeva Nitro to help life sciences customers derive more insights and outcomes from their data.”

“Life sciences companies are challenged to address data sourced from increasingly diverse, disparate, and rapidly changing sources”, said Mark Jewett, vice president of product marketing at Tableau Software. “Veeva’s new industry-specific data warehouse paired with visual analytics from Tableau will help pharma companies manage the variety and volume of their data and keep pace with their business.”

Additional Information
For more on Veeva Nitro, visit: veeva.com/Nitro
Connect with Veeva on LinkedIn: linkedin.com/company/veeva-systems
Follow @veevasystems on Twitter: twitter.com/veevasystems
Like Veeva on Facebook: facebook.com/veevasystems

About Veeva Systems
Veeva Systems Inc. is a leader in cloud-based software for the global life sciences industry. Committed to innovation, product excellence, and customer success, Veeva has more than 600 customers, ranging from the world’s largest pharmaceutical companies to emerging biotechs. Veeva is headquartered in the San Francisco Bay Area, with offices in Europe, Asia, and Latin America. For more information, visit veeva.com.

Forward-looking Statements
This release contains forward-looking statements, including the market demand for and acceptance of Veeva’s products and services, the results from use of Veeva’s products and services, and general business conditions, particularly in the life sciences industry. Any forward-looking statements contained in this press release are based upon Veeva’s historical performance and its current plans, estimates, and expectations, and are not a representation that such plans, estimates, or expectations will be achieved. These forward-looking statements represent Veeva’s expectations as of the date of this press announcement. Subsequent events may cause these expectations to change, and Veeva disclaims any obligation to update the forward-looking statements in the future. These forward-looking statements are subject to known and unknown risks and uncertainties that may cause actual results to differ materially. Additional risks and uncertainties that could affect Veeva’s financial results are included under the captions, “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” in the company’s filing on Form 10-K for the period ended January 31, 2018. This is available on the company’s website at veeva.com under the Investors section and on the SEC’s website at sec.gov. Further information on potential risks that could affect actual results will be included in other filings Veeva makes with the SEC from time to time.

###

Contact:
Roger Villareal
Veeva Systems
925-264-8885
roger.villareal@veeva.com

Lisa Barbadora
Veeva Systems
610-420-3413
pr@veeva.com







About Veeva Systems

Veeva Systems Inc. is a leader in cloud-based software for the global life sciences industry. Committed to innovation, product excellence, and customer success, Veeva has more than 600 customers, ranging from the world's largest pharmaceutical companies to emerging biotechs. Veeva is headquartered in the San Francisco Bay Area, with offices in Europe, Asia, and Latin America.


Veeva Systems - Cloud-based Software for the Global Life Sciences Industry | © Copyright 2018 Veeva Systems | Privacy Statement | Terms




Clinical Ink To Accelerate Innovation And Growth With Major Investment By NovaQuest Private Equity


Clinical Ink To Accelerate Innovation And Growth With Major Investment By NovaQuest Private Equity
-- NovaQuest Private Equity acquires majority interest in Clinical Ink; Silicon Valley Bank provides new credit facility; RTI International, a leading research institute, also provided a strategic co-investment --

NEWS PROVIDED BY
NovaQuest Capital Management, L.L.C.
May 14, 2018, 18:01 ET
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PHILADELPHIA and RALEIGH, N.C. and WINSTON-SALEM, N.C., May 14, 2018 /PRNewswire/ -- Clinical Ink, the pioneering provider of eSource and next-generation ePRO/eCOA solutions for clinical development, today announced that the private equity team at NovaQuest Capital Management, L.L.C. ("NovaQuest") has acquired a majority of the outstanding shares of the company from existing investors and provided a substantial infusion of additional growth capital. The deep clinical, operational, and financial resources of NovaQuest will allow Clinical Ink to aggressively pursue growth opportunities and fuel investment in new products and operational capabilities.

"The pharmaceutical industry is anxiously seeking technology solutions that reduce costs and simplify clinical trials for patients, sites, sponsors and CROs," said Ed Seguine, CEO of Clinical Ink. "Clinical Ink's new partnership with NovaQuest is a testament to our strong financial performance and validation of our approach to provide a better clinical trial experience. The landscape of emerging clinical technology companies is littered with unrealized potential and we now have the resources, expertise, and relationships to successfully compete with the entrenched legacy providers to establish a new business model for conducting clinical trials."

"Clinical Ink is uniquely positioned to address the most challenging problems associated with conducting clinical trials," said Michael Sorensen, Partner at NovaQuest. "NovaQuest's experience directly funding major clinical programs with the world's largest pharmaceutical companies affords us deep insights into the opportunities to fundamentally improve this complex process. The Clinical Ink management team has achieved notable success and the company is at a critical inflection point where NovaQuest's expertise and relationships can help the company accelerate growth and continue to innovate."

RTI International, a leading research institute, provide strategic co-investment in support of Clinical Ink, to help solve the problem of reducing the cost and complexity of clinical research for sites, sponsors and patients. "We are excited to be a co-investment partner with NovaQuest and extend our healthcare and life sciences expertise to Clinical Ink," said Matt Jenkins, vice president and head of corporate development at RTI. "This deal fits well with our philosophy of investing alongside strong management teams and investment partners in high growth markets with a connection to our core research work and mission."

In a related transaction, Silicon Valley Bank also provided a flexible credit facility to Clinical Ink.

Baird served as exclusive financial advisor to Clinical Ink while Hogan Lovells provided the company legal advice. Wyrick Robbins provided legal advice to NovaQuest.

About Clinical Ink
Founded in 2007, Clinical Ink is dedicated to transforming clinical development with innovative technologies that make clinical research easier for patients, sites and sponsors. Clinical Ink's SureSource® platform directly captures eSource, ePRO, and eCOA data and documents and facilitates risk-based monitoring. Our approach puts the focus on protocol execution by focusing on the critical moments that matter. Clinical Ink maintains offices in Winston-Salem, NC and Philadelphia, PA. Find more at www.clinicalink.com.

About NovaQuest Capital Management, L.L.C.
NovaQuest Capital Management is a leading investor in life sciences and healthcare through its Product Finance and Private Equity strategies. NovaQuest was formed in 2000 with the vision of building an investment platform to provide strategic capital to life sciences and healthcare companies. Today, NovaQuest Capital Management manages over $1.8 billion through its Product Finance and Private Equity strategies. The investment team consists of highly seasoned operational and investment professionals with significant investment experience and deep life science and healthcare expertise. Furthermore, NovaQuest benefits from an extensive network of industry experts and relationships that assist in identifying, analyzing and growing NovaQuest portfolio companies and investments. For more information, please visit www.novaquest.com.

About RTI International
RTI International is an independent, non-profit research institute dedicated to improving the human condition. Clients rely on us to answer questions that demand an objective and multidisciplinary approach—one that integrates expertise across the social and laboratory sciences, engineering, and international development. We believe in the promise of science, and we are inspired every day to deliver on that promise for the good of people, communities, and businesses around the world. For more information, visit www.rti.org.

Media Contact: Jessica Romero
t: 336.728.6541 | Jessica.romero@clinicalink.com




SOURCE NovaQuest Capital Management, L.L.C.