Strategic Investment to Fuel Service Growth to Meet High Market Demand
NEW YORK and BURLINGTON, Massachusetts, Oct. 11, 2016 /PRNewswire/ -- Context Matters, Inc., the leading provider of health economics data for pharmaceutical industry market access intelligence, and Decision Resources Group (DRG), a premier provider of high-value data, analytics and insights products and services to the healthcare industry, today announced that DRG is the lead investor in Context Matters' recently completed Series B funding round. In connection with this strategic investment, Context Matters and DRG will leverage each other's unique capabilities, industry leading best practices, and deep relationships throughout the healthcare ecosystem to meet the high market demand for their services.
Founded in 2010, Context Matters created the first end-to-end technology enabled solution for market access intelligence. The Context Matters Market Access Platform (MAP) standardizes and integrates data, decisions, and documents from over 5,000 health technology reviews—collected from agencies in the United Kingdom, France, Germany, Italy, and Sweden, as well as Australia and parts of Asia—and 8,000 drug labels across the FDA and EMA, covering over 3,000 drugs in 100 diseases. Comprising over two million points of data integrated with a technology stack, the MAP provides built-in analytical and communication tools.
The Context Matters team will use the new investment to augment its account services team and support the company's rapidly growing user population as well as increase geographic coverage of agencies. Additionally, DRG will be providing resources to expand Context Matters' sales channels. Together, Context Matters and DRG will leverage the complementary strengths of high quality data and expert insights to deliver streamlined and exceptional customer experience.
"Our customers are operating in a highly competitive marketplace and facing increasing scrutiny regarding the pricing of drugs. We set out to build a solution that proved the link between decisions made about clinical trials and reimbursement decisions for market access," said Yin Ho, CEO and Founder, Context Matters. "Our solution showcases the links between reimbursement, clinical trial design, and regulatory approval—intelligence that our customers now rely upon to make critical decisions. DRG brings deep domain expertise in analytics, therapy area depth, and HEOR to further support our joint customers working with data from these different domains."
"We are delighted to be part of the Context Matters journey. Our investment will support Yin's ability to scale her business, and enable Context Matters to enhance its support and service infrastructure to meet market demand," said Jon Sandler, CEO of DRG. "Context Matters is recognized for the outstanding quality and accuracy of its data and the unique insights made possible by its technology platform integration. We have long admired the quality of the company's work, global market access insights and customer focus. We look forward to partnering with Context Matters to deliver even greater insights and value to our clients."
About Context Matters, Inc.
Context Matters modernizes and improves the process of valuing drug therapies, empowering life sciences organizations to achieve optimal reimbursement for their innovation. The Context Matters Market Access Platform (MAP) defines a new product category for global drug valuation—a configurable technology platform linking drug development and market data through a sophisticated model making comparative analysis and contextual views possible to establish reimbursement and market access. The MAP is a disruptive innovation that provides pharmaceutical and biotechnology companies direct access to the insights they need to inform key product development decisions and gain optimal reimbursement value. Visit ContextMatters.com for more information.
About Decision Resources Group
DRG, a subsidiary of Piramal Enterprises Ltd., offers best-in-class, high-value data, analytics and insights products and services to the healthcare industry, delivered by more than 1,000 employees across 17 offices in North America, Europe and Asia. DRG provides the Life Sciences, Provider, Payer and Financial Services industries the data, tools, insights and advice they need to compete and thrive in an increasingly complex and value-based marketplace. DecisionResourcesGroup.com.
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SOURCE Decision Resources Group