Sale of BioPharma subsidiary is a key component of Think's strategic plan to refocus on core software assets.
Divestiture will drive enhanced product innovation and support improved customer service.
TORONTO, ON / ACCESSWIRE / June 13, 2024 / Think Research Corporation (TSX.V:THNK) ("Think Research" or the "Company"), a company focused on transforming healthcare through digital health software solutions, is pleased to announce that its subsidiary, BioPharma Services ("BioPharma"), has been sold to HEALWELL AI. The sale is a key component of Think's strategic plan to sharpen its focus on its core software and content business and enhance its customer service offerings.
Committed to revolutionizing healthcare with innovative technology and evidence-based solutions, the divestiture of BioPharma enables Think to dedicate more resources to improving healthcare access and supporting healthcare professionals in making informed clinical decisions with our state-of-the-art digital health tools.
Sachin Aggarwal, CEO of Think Research said, "We are excited about this strategic move. The sale of BioPharma enables us to operate more adeptly and effectively, empowering us to focus on enhancing our core suite of products and innovations to better respond to our customers' evolving needs."
BioPharma is a leading contract research organization (CRO) specializing in Phase 1 clinical trials, and was initially acquired by Think in 2021. Focusing on scientific integrity, operational excellence, and adaptive processes tailored to each client's needs, BioPharma Services has established a reputation for delivering high-quality results in the pharmaceutical and biotech industries.
The sale marks a significant step in Think's mission to transform healthcare and support informed clinical decisions. Think remains fully committed to upholding its existing contracts, privacy obligations, and data security standards. Clients can expect a seamless continuation of services without any disruption.
About Think Research Corporation
Think Research Corporation is an industry leader in delivering knowledge-based digital health software solutions. The Company's focused mission is to organize the world's health knowledge so everyone gets the best care. Its evidence-based healthcare technology solutions support the clinical decision-making process and standardization of care to facilitate better healthcare outcomes. The Company gathers, develops, and delivers knowledge-based solutions globally to customers including enterprise clients, hospitals, health regions, healthcare professionals, and/or governments. The Company has gathered a significant amount of data by building its repository of knowledge through its network and group of companies.
Think licenses its solutions to over 14,200 facilities for over 320,000 primary care, acute care, and long-term care doctors, nurses and pharmacists that rely on the content and data provided by Think to support their practices. Millions of patients and residents annually receive better care due to the essential data that Think produces, manages and delivers.
For further information: Mark Sakamoto, Executive Vice President, Think Research Corporation, Direct: 416.388.7119, mark.sakamoto@thinkresearch.com
SOURCE: Think Research
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