Rouven Bergmann is the Chief Financial Officer of Medidata Solutions (NASDAQ:MDSO). Previously, Mr. Bergmann was CFO of the multibillion-dollar software business SAP (NYSE:SAP) North America, where he was responsible for overseeing all financial activities for SAP’s largest business unit. His key accomplishments include driving SAP’s transition from a traditional licensing model to SaaS and leading acquisition integrations. In this exclusive interview with the Wall Street Transcript, Mr. Bergmann details the strategic direction of this high powered medical trials software company.
Mr. Bergmann describes his company’s main product: “the Medidata Clinical Cloud is the primary technology solution powering clinical trials. We have 18 of the top 25 global pharmaceutical companies as our customers as well as 18 of the top 25 medical device developers worldwide. Essentially, we are the de facto standard today for clinical development, much like Amazon Web Services for cloud infrastructure.”
The SaaS solution that Medidata provides uses remote data storage as a key component: “In our cloud, for example, we operate 14,000 trials, 4 million patients and 500,000 sponsor site relationships. It is by far the largest cross-sponsor clinical trial data asset in the world, and that gives us unique insights into clinical development.”
The CFO goes to explore the sources of future investment returns for Medidata shareholders. “Accelerated growth is coming from…important aspects of clinical development, such as patient randomization, risk-based monitoring, payments, site selection, mHealth and advanced analytics. That’s where our accelerated growth is coming from.”
He goes on to detail the product development that will add significantly to Medidata’s top and bottom line. “Our ability is to have a very scalable business model that allows us to invest in R&D and build these very exciting future products that have increasing value to our customers. It is important to understand that the scale of the business model, enabling innovation and driving future growth are all very tightly linked.”
To read the entire interview, visit the Wall Street Transcript.