Parexel Completes Purchase of Roam Analytics’ Natural Language Processing
BOSTON and DURHAM, N.C., Sept. 22, 2020 (GLOBE NEWSWIRE) -- PAREXEL International a leading provider of solutions to accelerate the development and delivery of innovative therapies to improve world health, from clinical through commercialization, today announced it has completed the purchase of the Natural Language Processing (NLP) technology assets and transfer of key personnel of Roam Analytics, Inc., a healthcare software company based in San Francisco, California. This strategic move will further strengthen Parexel’s commitment to leveraging Artificial Intelligence (AI) and Machine Learning (ML) to drive new innovations across drug development and life sciences. In addition, it will immediately enhance Parexel’s Pharmacovigilance and other Real-World Data capabilities through the application of NLP technology across the company’s various data sets to further streamline and extract insights from unstructured data.
Roam Analytics’ technology platform enables organizations to leverage any source of healthcare language data, from clinical notes to patient surveys, regulatory documents, marketing materials, telemedicine interactions, social media and more, to improve operational workflows.
“Over the course of our partnership with Roam Analytics, its technology has shown exceptional strength and reliability in not only reading a wide range of clinical data sources, but also in annotating and categorizing data for leading life sciences companies that we serve,” said Michelle Hoiseth, Chief Data Officer, Parexel. “By integrating the Roam Analytics’ technology into Parexel’s suite of services, we’ll be able to provide customers with an added level of safety and security and pursue our aim to reduce the time and cost of developing new treatments and get them in the hands of patients sooner.”
“We are extremely proud to join Parexel, with whom we have partnered closely for several years and have a shared mission to improve healthcare for all,” said Lauren DeMeuse, CEO of Roam Analytics. “By combining some of the best minds in natural language processing and drug development, I’m confident we will transform the clinical trial process for Parexel’s customers — at a time when our world needs it the most.”
Natural language processing is a branch of artificial intelligence that helps computers understand, interpret and manipulate human language. Using Roam Analytics’ technology to combine and unlock unstructured data, Parexel is able to augment structured data systems, creating a complete picture of patients and providers.
Financial terms of the agreement were not disclosed.
About Roam Analytics
Founded in 2014, Roam is a healthcare software company building the natural language processing infrastructure for modern healthcare systems. Our mission is to empower healthcare companies to derive structured meaning from language data to improve healthcare for all. The Roam Platform enables organizations to leverage any source of healthcare language data, from clinical notes to patient surveys, regulatory documents, marketing materials, telemedicine interactions, social media and more, to improve operational workflows. Contact us to learn about our solutions at firstname.lastname@example.org.
Parexel is focused on supporting the development of innovative therapies to improve patient health. During the COVID-19 crisis, we continue to be committed to our customers’ business while putting the safety of patients, client partners and our employees at the heart of everything we do. To learn more about our efforts related to COVID-19, as well as the experts, innovations and processes we have in place to navigate the rapidly changing landscape, visit our website and follow us on LinkedIn, Twitter and Instagram.
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