Medidata Solutions (MDSO) provides the clinical-research area with a software-as-a-service-based solution in the electronic-capture area, and this potentially undervalued company has been building its full suite of electronic solutions for the health care industry, making it an important holding for James M. Landreth, CFA, Managing Director, Portfolio Manager and Research Analyst at North Capital, LLC.
“It had been a good little company for a while driven initially by a particular point solution in the electronic capture area, a niche business. But over the last couple of years, they have been building out an entire product suite into areas like clinical-design management, data analytics and intelligence capture, really a broad set of solutions to improve the efficiency of and lower the cost of running and managing a clinical trial,” Landreth said.
Landreth says MDSO recently announced its first first multiyear-, multimillion-dollar deal, which was “basically the soup-to-nuts solution set.” He says this was Medidata’s first and largest contract to date, and it was with a large pharmaceutical company.
“We don’t believe investors appreciate the fact that this is the first of many of these types of deals to be done. If you look at where the world is moving, it’s away from the paper-and-pencil-based method to one that’s really online, whether it’s electronic medical records or it’s the delivery channel, which is the software as a solution, or the SaaS-based, business model. This firm is really the only provider for that the broad suite for the clinical research category,” Landreth said.
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