French tech giant Dassault is nearing deal to buy health software company Medidata
Summary
French technology company Dassault Systemes is nearing a deal to acquire Medidata Solutions, according to people familiar with the matter. Medidatas software is used to help clinics manage their back-office operations and their data, and it provides analytics tools so they can make sense of massive amounts of information. "Medidata has always been an extremely well-run company and a juggernaut in their space," said Bijan Salehizadeh, a medical technology investor at NaviMed Capital. Medidata, which competes with health software from vendors such as IBM, Oracle and Veeva, was founded in 1999 and went public 10 years later. "Its about the diversification of their business," said Matthew Holt, managing director at private equity firm New Mountain Capital.