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Acquisition continues growth of data mining into product marketing and pricing
Model N (Redwood Shores, CA), one of the handful of companies providing IT tools to industry to manage revenue by channel in the marketplace, has acquired LeapFrogRx (Waltham, MA), which has been performing marketing analytics for pharma since 2002. The acquisition brings broader analytics capabilities to Model N, which previously had focused mostly on contract administration, government pricing and regulatory compliance around pricing, all as a way to perform “revenue management” as a business practice. Purchase price was not disclosed.
Now, according to Model N, the revenue management function is extended to brand, marketing and sales, trade and distribution and managed markets organizations. The combined tools will be called Price ImpACT, Managed Markets ImpACT, Brand ImpACT, Field ImpACT and Channel ImpACT. “Pharma companies are increasingly building data warehouses in each of these functional areas, but they remain silos with business intelligence locked up inside them. We are offering an end-to-end enterprise view of the business, rather than one or another silo.”
Preparations for the full impact of healthcare reform, as well as advancing technology capabilities, appear to be shaking up this contract and revenue management part of the business. At the beginning of the year, iMany (Philadelphia) renamed itself as Revitas, Inc., and is promoting an updated version of its contract-administration and pricing tools as “enterprise revenue dynamics.” And late last year, an under-the-radar data analytics company, Mu Sigma (Chicago), popped up by garnering $108 million in venture-cap money, with business services including managing pharma distribution.