Press Release: Precision for Medicine Acquires Precision Health Economics
Extends Leadership in Health Economics and Outcomes Research With a Focus on Evidence Generation in an Era of Precision Medicine
Bethesda, MD, and Los Angeles, April 16, 2015 – Precision for Medicine (Precision), a specialized services company supporting next-generation approaches to drug development and commercialization, today announced the acquisition of Precision Health Economics (PHE). A world-renowned and cutting-edge health economics consultancy and analytics firm, PHE leverages the expertise of policy analysts, economists, clinicians, and academics to advance research on the most complex healthcare questions. Life sciences companies and policymakers worldwide turn to PHE to shape strategy, inform key healthcare decisions, and produce effective changes in policy through innovative research.
PHE, headquartered in Los Angeles, CA, was founded by Drs. Dana Goldman, Darius Lakdawalla, and Tomas Philipson, professors at the University of Southern California and the University of Chicago. PHE’s network of academic experts includes numerous nationally and globally recognized scholars in health economics, medicine, and health policy. The team also includes former leaders at the Centers for Medicare and Medicaid Services, the Food and Drug Administration, the Department of the Treasury, the Congressional Budget Office, and the President’s Council of Economic Advisers.
“PHE is the leader in developing innovative approaches to the science of value. Their work impacts policy and influences payment systems across some of the most important and fastest growing sectors of medicine,” said Ethan Leder, chairman, Precision for Medicine. “Adding PHE’s differentiated capabilities fortifies our approach to helping life sciences companies deliver more effective treatments to patients in the era of precision medicine by integrating research, analytics, science, and communications. The PHE management team will remain in place and will continue to focus on their customers in the pharmaceutical and life sciences markets.”
This acquisition will expand the existing health economics and outcomes research (HEOR) capabilities of Precision for Value, a business unit of Precision for Medicine. Precision for Value excels in helping pharmaceutical and life sciences companies demonstrate and communicate the value of innovative medications. Through real-world expertise, and with recognized industry thought leaders and advanced analytic tools, the company’s clients achieve an in-depth understanding of the specific drivers and barriers that impact market access. The acquisition extends the leadership in HEOR with a focus on innovative approaches to evidence generation.
“In the age of personalized medicine, it’s vitally important to understand not only how value derives from tailored treatment, but also how to navigate the data, analytics, and policy challenges associated with precision medicine. This combination of PHE and Precision is uniquely suited to meet these challenges,” said Dana Goldman, co-founder, Precision Health Economics.
Glenn Bilawsky, president of PHE adds, “Joining Precision provides us access to a pool of talent, knowledge, and expertise in the healthcare payer marketplace that will offer our clients deeper insights into the scope and scale economic evidence required to shape future policy decisions.”
About Precision Health Economics
Precision Health Economics integrates deep technical expertise with practical insights to bring intellectual integrity, academic rigor, and a creative approach to the most challenging problems in healthcare. In addition to its world-renowned team of health economists, PHE draws on the expertise of a network of affiliated academic scientists and clinicians from the world’s leading universities, straddling the policy and clinical arenas to reach top decision makers and influence outcomes. The company has offices in Austin, TX, Boston, MA, Los Angeles, CA, and Oakland, CA. For more information, go to www.precisionhealtheconomics.com.
About Precision for Medicine
Formed in 2012, Precision for Medicine is a specialized services company supporting next generation approaches to drug development and commercialization. It provides integrated services and infrastructure to support pharmaceutical and life sciences companies as they develop new products in the age of precision medicine. Precision for Medicine brings expertise, technology, and project execution to support innovative, patient-centric solutions from discovery through commercialization. The company is headquartered in Bethesda, MD, with offices in Cambridge, MA, Chicago, IL, Frederick, MD, Gladstone, NJ, Indianapolis, IN, New York, NY, and Stamford, CT. For more information, visit www.precisionformedicine.com.
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