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Acquisition of MotionHall reinforces strategy to lead market-specific solutions, including workflows and expert services fuelled by industry vertical AI
LONDON, March 21, 2024 /PRNewswire/ -- Clarivate Plc (NYSE:CLVT) a leading global provider of transformative intelligence, has announced an agreement to acquire the substantial majority of assets of MotionHall, a Silicon Valley technology start-up company serving the life sciences with industry vertical artificial intelligence (AI) solutions. The asset purchase serves as a key component of the Clarivate™ Life Sciences & Healthcare strategy to deliver transformative intelligence through the application of generative AI (GenAI) and proprietary industry vertical AI solutions. Clarivate provides people and organizations with transformative intelligence they can trust, propelling human ingenuity into our world's greatest breakthroughs.
The acquisition of the full intellectual property, clients and team from MotionHall enables acceleration of multiple roadmaps, including targeted enhancements to Clarivate Cortellis™, market assessments, as well as a new Business Development & Licensing Enterprise Workbench.
Henry Levy, President, Life Sciences & Healthcare, Clarivate said: "As part of our strategy, Clarivate will enhance existing products and introduce novel solutions utilizing AI, to streamline clients' workflows and accelerate speed to insight and action. Concurrent with this transaction, the team from MotionHall has joined Clarivate to progress our on-going commitment to provide exceptional value for our clients across the entire drug, device and medical technology lifecycle."
Rachael Craig, SVP and Managing Director, Life Sciences & Healthcare Strategy Products, Clarivate, said: "Clarivate is well positioned to become a leading industry vertical artificial intelligence (AI) player. Your healthier tomorrow is being built through the successful combination of deep life sciences industry expertise and mastery of frontier AI capabilities. Clients who choose Clarivate as we advance industry vertical AI together, will have access to this frontier, becoming better equipped to deliver outcomes for their company and patients that meet today's complex challenges."
In the near-term, Clarivate will leverage MotionHall IP to further enhance Cortellis search, as well as scope of data quality and coverage.
To learn more about Clarivate Portfolio Strategy & Business Development Solutions, visit, https://clarivate.com/industries/life-sciences-and-healthcare/.
About Clarivate
Clarivate™ is a leading global provider of transformative intelligence. We offer enriched data, insights & analytics, workflow solutions and expert services in the areas of Academia & Government, Intellectual Property and Life Sciences & Healthcare. For more information, please visit www.clarivate.com
Cautionary Note Regarding Forward-Looking Statements
This release contains "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on management's current beliefs, expectations, and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy, and other future conditions. Because forward-looking statements relate to the future, they are difficult to predict and many of which are outside of our control. Important factors that could cause our actual results to differ materially from those indicated in the forward-looking statements are discussed under the caption "Risk Factors" in our Annual Report on Form 10-K, along with our other filings with the U.S. Securities and Exchange Commission ("SEC"). However, those factors should not be considered to be a complete statement of all potential risks and uncertainties. Additional risks and uncertainties not known to us or that we currently deem immaterial may also impair our business operations. Forward-looking statements are based only on information currently available to our management and speak only as of the date of this release. We do not assume any obligation to publicly provide revisions or updates to any forward-looking statements, whether as a result of new information, future developments or otherwise, except as otherwise required by securities and other applicable laws. Please consult our public filings with the SEC or on our website at www.clarivate.com.
Media Contact:
Catherine Daniel, Director, External Communications, Life Sciences & Healthcare
newsroom@clarivate.com
Investor Relations Contact:
Mark Donohue, Head of Investor Relations
Mark.donohue@clarivate.com
