Parexel Completes Purchase of Roam Analytics’ Natural Language Processing Capability
Strategic addition expands capability and commitment to Artificial Intelligence and Machine Learning to drive innovations for biopharmaceutical customers
Parexel, a leading provider of solutions to accelerate the development and delivery of innovative therapies to improve world health, from clinical through commercialization, announced it has completed the purchase of the Natural Language Processing (NLP) technology assets and transfer of key personnel of Roam Analytics, Inc., a healthcare software company based in San Francisco, California. This strategic move will further strengthen Parexel’s commitment to leveraging Artificial Intelligence (AI) and Machine Learning (ML) to drive new innovations across drug development and life sciences. In addition, it will immediately enhance Parexel’s Pharmacovigilance and other Real-World Data capabilities through the application of NLP technology across the company’s various data sets to further streamline and extract insights from unstructured data.
Roam Analytics’ technology platform enables organizations to leverage any source of healthcare language data, from clinical notes to patient surveys, regulatory documents, marketing materials, telemedicine interactions, social media and more, to improve operational workflows.
“Over the course of our partnership with Roam Analytics, its technology has shown exceptional strength and reliability in not only reading a wide range of clinical data sources, but also in annotating and categorizing data for leading life sciences companies that we serve,” said Michelle Hoiseth, Chief Data Officer, Parexel. “By integrating the Roam Analytics’ technology into Parexel’s suite of services, we’ll be able to provide customers with an added level of safety and security and pursue our aim to reduce the time and cost of developing new treatments and get them in the hands of patients sooner.”
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“We are extremely proud to join Parexel, with whom we have partnered closely for several years and have a shared mission to improve healthcare for all,” said Lauren DeMeuse, CEO of Roam Analytics. “By combining some of the best minds in natural language processing and drug development, I’m confident we will transform the clinical trial process for Parexel’s customers — at a time when our world needs it the most.”
Natural language processing is a branch of artificial intelligence that helps computers understand, interpret and manipulate human language. Using Roam Analytics’ technology to combine and unlock unstructured data, Parexel is able to augment structured data systems, creating a complete picture of patients and providers.
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