Medidata Solutions

Medidata Solutions

Cloud-based solutions for clinical trials

About Medidata Solutions

Simplify's Rating
Why Medidata Solutions is rated
A-
Rated B on Competitive Edge
Rated A on Growth Potential
Rated A on Differentiation

Industries

Enterprise Software

Biotechnology

Healthcare

Company Size

1,001-5,000

Company Stage

Acquired

Total Funding

$5.8B

Headquarters

New York City, New York

Founded

1999

Overview

Medidata Solutions offers cloud-based solutions for managing clinical trials in the life sciences industry, serving pharmaceutical, biotech, and medical device companies, as well as academic institutions. Their main products include Rave EDC for electronic data capture, eCOA for electronic clinical outcome assessments, and ePRO for electronic patient-reported outcomes, all designed to enhance the efficiency and accuracy of clinical trials. Unlike competitors, Medidata leverages advanced technology and data insights to help clients bring new treatments to market faster and more cost-effectively. The company's goal is to support advancements in healthcare while promoting diversity and inclusion.

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Simplify's Take

What believers are saying

  • Medidata's Patient Payments solution streamlines reimbursements, addressing financial toxicity concerns.
  • Extended partnership with Bristol Myers Squibb enhances clinical research and patient outcomes.
  • Integration of UK iCT data into Grants Manager streamlines budgeting, improving efficiency.

What critics are saying

  • AI integration may lead to ethical concerns and regulatory scrutiny over data privacy.
  • UK-specific costing data integration may limit scalability in regions with different structures.
  • High costs and complex regulations in MedTech may hinder innovation and competition.

What makes Medidata Solutions unique

  • Medidata integrates UK iCT data, enhancing budget precision by up to 80%.
  • AI-driven Clinical Data Studio modernizes data experience, improving trial efficiency and safety.
  • Partnership with Cognizant expands AI-powered technologies, enhancing patient and data experiences.

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Funding

Total Funding

$5822.3M

Above

Industry Average

Funded Over

4 Rounds

Notable Investors:
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Acquisition Funding Comparison
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Benefits

Unlimited Paid Time Off

Health & Wellness

Professional Development

Work/Life Balance

Maternity & Paternity Leave

Company News

PharmiWeb
Feb 12th, 2025
Medidata Becomes First Life Sciences Company To Integrate Uk Mandated Health Costing Data Into Its Financial Management Portfolio

Incorporating the UK integrated Costing Tool (iCT) pricing into Medidata Grants Manager is expected to amplify UK budget precision by up to 80%London – 11 Feb., 2025 – Medidata, a Dassault Systèmes brand and leading provider of clinical trial solutions to the life sciences industry, has integrated data from the UK interactive Costing Tool (iCT ) , hosted by the National Institute for Health and Care Research (NIHR), into Medidata Grants Manager, creating a first-of-its-kind offering in the life sciences space. This will consolidate study budgeting with consistent costs, coding, and processes.“The ability for clinical trial teams to efficiently develop grant budgets and administer site negotiations is a crucial function of a trial,” said Meghan Harrington, vice president, clinical financial management, Medidata. “Incorporating the UK iCT into Grants Manager streamlines the study start up process and improves budget precision by up to 80%.”The UK approach for commercial study costing and contracting relies on a standardized budget template with specific codes and costs to ensure efficient budget preparation. The manual transfer of data from the UK iCT system into budgeting applications creates inefficiencies, including delays and duplication of efforts that increase the risk of errors. Integrating UK iCT data directly into Grants Manager overcomes these challenges by eliminating the need for manual data entry, significantly reducing preparation time and supporting data consistency across platforms.“Our overarching mission as an organization is to advance the nation’s health through groundbreaking research, and with Medidata’s support, we are proudly positioning the UK as a global leader in this endeavor,” said Laura Bousfield, national research delivery director, NIHR. “This Medidata solution empowers us to improve UK budget accuracy, creating a process that is more systematic and reliable

Hit Consultant
Feb 11th, 2025
Medidata Integrates Uk Costing Data Into Grants Manager, Streamlining Clinical Trial Budgeting

What You Should Know:– Medidata, a Dassault Systèmes brand and a leading provider of clinical trial solutions, today announced the integration of data from the UK interactive Costing Tool (iCT) into its Grants Manager platform.– The collaboration with the National Institute for Health and Care Research (NIHR) provides life sciences organizations with a streamlined and standardized approach to clinical trial budgeting, enhancing efficiency and transparency in research funding.Partnership with NIHR Enhances Efficiency and Transparency in Research FundingThe iCT, hosted by the NIHR, provides a centralized resource for costing clinical research in the UK. By integrating this data into Grants Manager, Medidata enables researchers and sponsors to:Access consistent cost data: Utilize standardized cost information for various aspects of clinical trials, ensuring accuracy and consistency in budget development.Utilize standardized cost information for various aspects of clinical trials, ensuring accuracy and consistency in budget development. Simplify budget creation: Automate the process of generating budgets, reducing manual effort and improving efficiency.Automate the process of generating budgets, reducing manual effort and improving efficiency. Enhance transparency: Promote transparency in research funding by providing clear and consistent cost information to all stakeholders.Collaboration with NIHRMedidata has worked closely with the NIHR to ensure the seamless integration of iCT data into Grants Manager. The company’s active participation in the National Contract Value Review Advisory Board and UK Commercial Costing Reference Group further demonstrates its commitment to advancing best practices in clinical trial budgeting.“The ability for clinical trial teams to efficiently develop grant budgets and administer site negotiations is a crucial function of a trial,” said Meghan Harrington, vice president, clinical financial management, Medidata. “Incorporating the UK iCT into Grants Manager streamlines the study start up process and improves budget precision by up to 80%.”The UK approach for commercial study costing and contracting relies on a standardized budget template with specific codes and costs to ensure efficient budget preparation

Hit Consultant
Jan 31st, 2025
Medidata And Cognizant Expand Partnership To Accelerate Clinical Trial Development

What You Should Know:–  Cognizant (Nasdaq: CTSH) announced an expanded agreement with Medidata, a Dassault Systèmes brand and leader of clinical trial solutions to the life sciences industry, to provide support for Medidata’s life sciences clients and expand the strategic alliance partnership. â€“  Over the years, the companies have partnered to deliver a comprehensive framework supporting life sciences clients, emphasizing customer success, patient service desk, implementation, engineering, integrations, and user acceptance testing services using Medidata’s clinical platform and solutions. Cognizant and Medidata: Transforming Clinical Research Through AI-Powered InnovationCognizant (Nasdaq: CTSH) engineers modern businesses by helping clients modernize technology, reimagine processes, and transform experiences to stay ahead in a fast-changing world. In a renewed multi-year collaboration, Cognizant and Medidata aim to enhance responsiveness and improve user satisfaction for life sciences organizations relying on Medidata’s technology services for clinical trial development.·       Dedicated Medidata Platform Support: Cognizant provides a specialized team of Medidata Platform experts to assist pharmaceutical, biotech, medical device, and contract research organizations, as well as patients using Medidata services. This support maximizes Medidata’s value for life sciences clients, improving the overall user experience and enabling clients to focus on clinical trial development and patient outcomes.·       AI-Driven Clinical Trial Acceleration: The partnership expands access to Medidata’s AI-powered technologies, including Medidata Clinical Data Studio, Medidata Health Record Connect, and the myMedidata patient portal. These solutions streamline research and development by enhancing patient, site, and data experiences.·       Operational Excellence and Data Modernization: As a top Global Medidata Strategic Alliance Partner, Cognizant leverages its extensive network of Medidata Certified Services Professionals to help life sciences organizations modernize clinical operations and data management.“Our partnership with Cognizant represents a shared commitment to transforming clinical research through innovation and expertise,” said Janet Butler, EVP, Head of Global Sales, Medidata. “By combining Medidata’s advanced AI-driven technologies with Cognizant’s deep industry knowledge and operational excellence, we support life sciences organizations in streamlining their RD efforts, deriving actionable insights from complex data, and ultimately bringing life-changing therapies to patients more efficiently.”

Hit Consultant
Jan 17th, 2025
Recent Digital Health Executive Hires And Promotions: Medidata Expands Team, Carerev, Philips, Eko Health, Others

AVIZVA, a health-tech organization that offers a variety of solutions for healthcare enterprises, that it has appoints James Vertino as its new CEO.Model N appoints Bret Connor as Chief Executive Officer. The Board of Directors of Blue Shield of California appoints Lois Quam as chief executive officer to lead Blue Shield of California, the first woman to serve as CEO in the health plan’s 86-year history. She joined the company as president in 2024.   Yaqrit, a late-stage biotech and medtech company developing lifesaving treatments for advanced liver diseases appoints Troels Jordansen has joined Yaqrit as Chief Executive Officer.OP Solutions names Michael Kallish as Chief Executive Officer, effective immediately.Access TeleCare appoints Dr. Michael Genovese to Chief Medical Officer for Behavioral Health.Enveda appoints Jason Kim as Chief Financial Officer (CFO).Eko Health appoints of Justin Spencer as Chief Financial Officer (CFO). (Pull from site)Qure.ai appoints Jim Mercadante as its new Chief Commercial Officer. (Pull from site)Symplr, appoints Dr

Hit Consultant
Jan 8th, 2025
Medidata Platform Enhances Clinical Trial Efficiency For Bristol Myers Squibb

Medidata Platform Enhances Clinical Trial Efficiency for Bristol Myers Squibb. by Syed Hamza Sohail 01/08/2025 Leave a Comment. What You Should Know:– Medidata, a Dassault Systèmes brand and a leader in clinical trial solutions for the life sciences industry, has announced an extended and expanded partnership with Bristol Myers Squibb (BMS).–  This collaboration aims to enhance clinical research processes, improve patient outcomes, and foster advancements in personalized healthcare. Medidata and Bristol Myers Squibb Strengthen Partnership to Advance Clinical Research and Personalized Healthcare As part of the agreement, Bristol Myers Squibb will continue utilizing the Medidata Platform while exploring additional capabilities within Medidata’s suite of products. These include: â€“ AI and advanced analytics to derive deeper insights from clinical trial data. â€“ Innovative data management solutions to streamline trial operations. â€“ The Medidata Clinical Data Studio, a newly launched tool designed to manage, monitor, and analyze clinical trials effectively. This strategic partnership extension will enable Bristol Myers Squibb to strengthen engagement with trial sites and patients, optimize processes, and accelerate the delivery of life-changing therapies to those in need. By leveraging cutting-edge technology, both organizations aim to set new benchmarks in clinical research and personalized treatment development

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