On July 20, 2021, Advarra announced its acquisition of Watermark Research Partners, one of the industry’s most experienced independent data safety monitoring board (DSMB) service providers. A trusted partner for data monitoring committee (DMC) and endpoint adjudication committee (EAC) services for two decades, the acquisition enables Advarra to expand its industry-leading independent research review services worldwide. You can read the full press release here.
We will continue to conduct business as usual, and clients will keep their current teams for support, customer relationships, and consulting projects. Our clients will continue to receive the high level of quality service they have come to expect, while gaining access to the enhanced benefits the combined company will provide.
We understand questions may arise as we bring our organizations together, so we’ve assembled this FAQ to address some of the most commonly asked questions. If you don’t see your question addressed here, please reach out to your primary contact at Watermark or Advarra.
Q: How will the combined organization impact our working relationship with Watermark and Advarra?
A: Our clients and their projects remain top priority. We will maintain diligent adherence to the quality of our work and personalized client support. Please continue to use your current contacts for support, project work, and customer relationships.
We have assembled a dedicated team to work on integration efforts, and we will conduct business as usual and minimize any impacts to our clients. Operational excellence and client engagement will remain at the forefront of our integration efforts.
We are committed to transparency and communicating any changes as we integrate. As such, we put together a process and communication plan for managing updates to ensure you are informed in advance of any changes.
Q: Do you plan to offer more services?
A: Watermark contributes to Advarra’s vision of advancing clinical research by bringing unrivaled expertise and depth of knowledge in life sciences to complement and expand Advarra’s existing research oversight services offerings. With Watermark now part of the Advarra family, we offer a full suite of independent oversight committees (institutional review board [IRB], institutional biosafety committee [IBC], DMC, and EAC) to the research community to advance their research.
Q: How will my interaction with Advarra and Watermark change?
A: We are committed to providing clients with the highest level of customer service and flawless execution. Please continue to work with your existing contacts at Watermark and Advarra. We will proactively communicate and coordinate any changes in personnel assignments.
Q: What will happen to my data if I am a Watermark customer?
A: There will be no changes to your data. We consider data privacy a top priority and will continue to treat your data in a protected, secure, and compliant manner.
Q: What will happen to my existing studies?
A: Watermark and Advarra will continue to follow their respective processes unchanged.
Q: Will Watermark clients need to move to a new platform to submit or manage studies?
A: No. Watermark clients will continue to use Watermark’s secure Extranet systems.
Q: Will there be changes needed for existing contracts?
A: No. Advarra will continue to honor existing Watermark contracts without changes, and no changes are needed to Advarra contracts.
Q: How long do you expect integration will take?
A: Integration activities will take approximately three months. We will proactively communicate any changes to policies and procedures impacting you.
Q: Is the acquisition complete?
A: Yes. Advarra’s acquisition of Watermark was completed on July 16, 2021.