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Arrowhead acquired by MedCo July 28, 2011
Overview
On July 28, 2011, Arrowhead was acquired by the newly formed Bracket division of United Biosource Corporation (UBC), a wholly owned subsidiary of MedCo Heath Solutions, Inc.
Arrowhead Electronic Healthcare, LLC was founded in 1999 and is widely recognized as the leading technology provider of electronic patient reported outcomes (ePRO).
Arrowhead’s products enable a patient in a clinical trial to report his or her status via smartphones, tablet computers, the Web and text messaging.
MedCo is a Fortune 50 company providing pharmacy benefits management, which recently announced its intent to combine with Express Scripts.
Significance
Arrowhead will enable Bracket to integrate the market’s most technology-advanced ePRO solution with Bracket’s leading interactive voice response services solution to provide the industry’s first fully-unified patient response technology platform.
The acquisition extends Bracket’s unique capability of helping pharmaceutical clinical trial sponsors and contract research organizations achieve greater certainty and more accurate outcomes.
Crosstree’s Role
Crosstree Capital Partners acted as exclusive financial advisor to Arrowhead in the transaction.