Cytel Acquires HEOR Experts Purple Squirrel Economics
New Acquisition Further Expands Cytel’s Global Consultancy in Health Economics Outcomes Research and Value Communications
Waltham, MA, December 1, 2020 – Cytel Inc., a leading provider of advanced analytics for the life sciences industry, has announced the acquisition of Purple Squirrel Economics. This new deal will further expand the global reach of Cytel’s Health Economics Outcomes Research (HEOR) expertise, which spans the entirety of the clinical development journey – from regulatory submission to post-market access.
This latest acquisition is part of Cytel’s commitment to continue powering pharmaceutical development through novel applications of modern data analytics, which has also seen Cytel acquire MTEK Sciences and Ingress Health over the past year. Purple Squirrel Economics joins Cytel’s distinguished real world and advanced analytics team, providing industry-leading capabilities in HEOR value evidence generation, health economic analyses and modelling, and value communications.
Based in the US and Canada, Purple Squirrel Economics offers strategic leadership with a global perspective by engaging a team of senior health economists, HEOR value communication writers, research analysts, and market access professionals trusted by both regulators and payers. They help companies prove product value with rigorous quantitative insights, thereby driving products towards commercial success.
Joshua Schultz, Chief Executive Officer at Cytel, commented, “Purple Squirrel Economics is a highly specialized HEOR team, and we are excited to welcome them into Cytel. By combining the power, knowledge, and expertise of Cytel, Ingress, and MTEK Sciences, we look forward to further increasing the reach of our innovative real world and advanced analytics services to help companies derive clinical insights as well as demonstrate and communicate value, ultimately aiding the global effort to bring medicines to patients more quickly.”
Combining HEOR with other real-world solutions enables sponsors to leverage electronic health records, claims data, and other vital sources for sound clinical data strategy. This can augment clinical development strategy at every phase of the product journey.
Anna Forsythe, Managing Partner and CEO at Purple Squirrel Economics, said, “With healthcare’s increased focus on HEOR, from clinical development through to product reimbursement, joining Cytel provides an excellent opportunity for us to share our HEOR expertise more widely.”
Cytel is the largest provider of statistical software and advanced analytics for clinical trial design and execution. For over thirty years, Cytel’s scientific rigor and operational excellence have enabled biotech and pharmaceutical companies to navigate uncertainty, prove value and make confident, evidence-based decisions. Our experts deliver industry-leading software, data-driven analytics, real-world evidence and strategic consulting. Headquartered in Waltham, Massachusetts, Cytel has more than 1,400 employees across North America, Europe and Asia. For more information about Cytel, please visit us at www.cytel.com. You also can follow us on LinkedIn and Twitter and like us on Facebook.