Roche set to acquire all shares of Flatiron Health from current 12.6%
Roche and Flatiron Health asserted that the two partners have ventured into a definitive agreement enumerating that Roche will acquire all shares of Flatiron Health from an existing stake of 12.6%. The transaction is anticipated to close in the first half of 2018.
Daniel O’Day, CEO Roche Pharmaceuticals said, “This is an important step in our personalised healthcare strategy for Roche, as we believe that regulatory-grade real-world evidence is a key ingredient to accelerate the development of, and access to, new cancer treatments. As a leading technology company in oncology, Flatiron Health is best positioned to provide the technology and data analytics infrastructure needed not only for Roche, but for oncology research and development efforts across the entire industry.”
Flatiron Health has worked with industry leaders and regulators to develop new approaches for adopting real-world evidence in regulatory decision making, including the design and validation of novel endpoints. Flatiron has also managed to curate a suite of software products that uniquely places the company to further the use of real-world evidence at the point of care.
Nat Turner, Flatiron Health Co-Founder and CEO said, “Roche has been a tremendous partner to us over the past two years and shares our vision for building a learning healthcare platform in oncology ultimately designed to improve the lives of cancer patients. This important milestone will allow us to increase our investments in our provider-facing technology and services platform, as well as our evidence-generation platform, which will remain available to the entire healthcare industry.”
As per the terms of the agreement, Roche will make a payment of USD 1.9 billion to Flatiron Health on a fully diluted basis, subject to certain adjustments. The closing of the transaction is subject to customary closing conditions. The parties expect that following the closing, Flatiron Health will continue its current business model, network of partnerships and overall objectives.