American biopharmaceutical solutions company Syneos Health has invested an undisclosed amount in Indegene Omnipresence Inc., a subsidiary of Bengaluru-based healthtech firm Indegene, the company said.
According to a person aware of the development, Syneos Health invested $20 million in Indegene Omnipresence, which was formed as a strategic alliance between Indegene and Microsoft in 2017.
Indegene said in a statement that Syneos Health provides drug development and commercialisation solutions to biopharmaceutical customers in over 110 countries.
Omnipresence is a customer experience platform for healthcare and life sciences organisations with customer relationship management (CRM), omnichannel engagement, advanced analytics and artificial intelligence (AI) capabilities.
“This investment will further accelerate the roadmap and deployments of our customer experience management platform for life sciences and healthcare clients,” Manish Gupta, co-founder and CEO, Indegene, said, in the statement.
In a telephone interview, Gupta added that the funds will be used “primarily for market expansion and for extending the product”. “We plan to increase our market presence, and will hire sales and marketing professionals across the world, primarily in the US and Europe. We will also accelerate the buildout of the patient cloud.”
Gupta said pharma and life sciences companies have been adopting technology rapidly. “One of the big areas is customer-engagement. Companies are also actively evaluating and deploying technology in various patient use cases.”
According to Indegene, citing the Taking the Pulse 2018 study by DRG, healthcare professionals (HCP) engagement transformation is pegged at $2 billion and, along with patient experience management transformation, it is a $8-billion market opportunity in the near future.
Alistair Macdonald, CEO, Syneos Health, said: “We’re excited to partner with Omnipresence the innovative platform, underpinned by Microsoft technologies, to address customer demand to drive high-value commercial relationships in an increasingly competitive marketplace.”
This article was first published on livemint.com.