MediSpend Grows Its Governance, Risk, and Compliance Offerings Through Real Life Sciences Acquisition

MediSpend Enters New Territory with Real Life Sciences Acquisition

MediSpend, a prominent global technology company, has announced its acquisition of Real Life Sciences (RLS), a leader in innovative anonymization technologies tailored for clinical trials. This strategic move significantly strengthens MediSpend's footprint in Governance, Risk, and Compliance (GRC) solutions, underscoring its commitment to meet the evolving needs of the life sciences industry.

Founded with the aim of empowering businesses in the life sciences sector, MediSpend has consistently focused on delivering advanced compliance solutions. The acquisition of RLS marks its second significant move within a year, positioning the company for enhanced service delivery in an industry that demands robust regulatory compliance.

Enhanced Capabilities in Data Management

Through the integration of RLS's flagship platform, RLS Protect, MediSpend will bolster its ability to assist life sciences companies as well as contract research organizations (CROs). This partnership will ensure that these entities can easily navigate the complexities of regulatory obligations concerning clinical trial disclosures while maintaining strict participant privacy.

RLS Protect is designed to facilitate the anonymization and redaction of sensitive data, granting organizations the confidence to share clinical trial data with stakeholders, including health authorities, research collaborators, and internal teams. This capability is crucial for compliance with various international regulations while safeguarding the private information of participants and protecting commercially sensitive data.

Key Features of RLS's Offerings

1. Anonymization Solutions: RLS Protect utilizes advanced quantitative risk modeling and proprietary natural language processing to accurately identify and classify personal data, ensuring compliance without compromising data utility.
2. Comprehensive Redaction Tools: The solutions include extensive tools for the redaction of commercially confidential information in adherence to global regulatory standards.
3. Voluntary Data Sharing: RLS's platform promotes streamlined sharing of anonymized data, expediting secondary research initiatives for clients.
4. Expert Anonymization Services: Leveraging the expertise of its team, RLS ensures project completion as per health authority guidelines, employing proven methodologies to maintain data integrity.

A Vision for the Future

Leigh Powell, Executive Chairman of MediSpend, expressed enthusiasm about the acquisition, stating, “Real Life Sciences' innovative solutions align perfectly with MediSpend's mission to empower life sciences companies with technology that drives growth, compliance and transparency.” This acquisition not only extends MediSpend's market reach but also enhances its arsenal of tools essential for navigating global regulatory complexities.

The RLS acquisition also opens new avenues for MediSpend to assist clients in research and development (R&D) compliance, a critical aspect of operations in the life sciences field. As regulations become more stringent globally, the need for reliable compliance partners continues to grow, making this integration timely and strategic.

Elliot Zimmerman, CEO of Real Life Sciences, commented on this transformative move, highlighting that becoming a part of MediSpend positions them to better serve their clients. With the combined strengths of both companies, they aim to deliver cutting-edge compliance and data privacy solutions tailored to the medical and pharmaceutical sectors.

About the Companies

MediSpend is recognized for offering top-notch compliance solutions to some of the largest names in the pharmaceutical, medical device, and biotech industries worldwide. With headquarters in Portsmouth, New Hampshire, and multiple offices across key regions, MediSpend is an established leader in promoting compliant growth for its clients.

Real Life Sciences specializes in providing advanced anonymization and redaction tools that enable life sciences stakeholders to adhere to evolving regulatory requirements without compromising participant privacy or data confidentiality. Their successful track record makes them a trusted choice in the market.

Together, these companies are set to redefine the standards of compliance technology in the life sciences landscape, aiming to support and empower their clients amid increasing regulatory challenges.