Device Trials Get More Efficient Via Software 1938

NEWS TRENDS

Medical device clinical trials generate astounding amounts of data. When the data are in paper format, they are extremely cumbersome to manage. Such information takes researchers much time to process, leading to delays in getting trials finished. That, in turn, costs sponsors money, sometimes millions of dollars.

It is no surprise, then, that software firms that can provide Web-based clinical trial data input that can streamline the data collection and analysis processes are doing very well. One, MedNet Solutions Inc. (Minnetonka, MN), has been named to Entrepreneur magazine's “Hot 500” list of fastest-growing companies, thanks to an 80% annual growth rate since 2002. Despite still being a relatively small company, MedNet has snared large device clients such as Medtronic and Boston Scientific.

Larger competitors such as Phase Forward Inc. (Waltham, MA) and Medidata Solutions Worldwide (New York City) have shown strong growth as well.

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