BOSTON & SAN FRANCISCO--(BUSINESS WIRE)--Scientia Advisors, a management consulting firm specializing in growth strategies for companies in healthcare and the life sciences, today announced the appointment of Patrick F. Terry to the position of Principal in the company’s Pricing and Reimbursement/Market Access practice.
Terry comes to Scientia with many years of entrepreneurial experience, having founded innovative research and commercial organizations in the life sciences, applied technology, and social-network theory.
Most recently, as founder and CEO of Technic Solutions, LLC, a personalized medicine and advanced diagnostics consulting firm, he participated in securing over 400 million dollars of private and public financing, and managed the creation of numerous companion diagnostic and molecular technology strategies in several therapeutic and disease areas.
Previously, Terry had co-founded Genomic Health Inc. (NASDAQ: GHDX), a pioneering personalized medicine company focused on developing and commercializing molecular diagnostics for cancer. He also founded the Personalized Medicine Coalition, the European Personalised Medicine Association, and The Coalition for 21st Century Medicine.
"We are very happy to welcome Patrick to the Scientia Advisors team,” said Harry Glorikian, Scientia Advisors founder and managing partner. “Our goal was to find a professional demonstrating a proven track record of success, real world experience, cutting-edge knowledge and the ability to apply sophisticated expertise to complex client challenges. Patrick brings all of those qualities and more to the table."
Terry said, "I am thrilled to join Scientia Advisors. It is a wonderful opportunity to leverage my skills at a company that is influencing healthcare and life sciences today. I look forward to helping firms of all types realize maximum clinical impact, create true value and deliver value-based pricing in modern healthcare delivery systems.”
At Scientia Advisors, Terry will launch and manage a practice in pricing and reimbursement/market access, focusing on North American and European markets. The new practice will focus primarily on helping companies in therapeutics, diagnostics and medical device fields develop and implement sound reimbursement and pricing strategies.
“With the new practice, Scientia will combine its robust analytics capability and domain expertise to assist clients in developing and implementing a managed market approach to commercial success,” Glorikian said.
“Given the state of the world wide healthcare environment, we believe that companies must move beyond solely satisfying regulatory requirements and start incorporating reimbursement and market access plans at much earlier stages of their strategy development. This will allow them to better prepare to overcome hurdles and to respond to escalating demands for evidence from patients, payers and providers,” Glorikian added. “Being able to demonstrate their products’ effectiveness early on will help companies accelerate coverage policy and payment.”
The new practice will augment Scientia’s existing client services by providing a global perspective integrating comparative effectiveness, healthcare and payment reform, market access solutions, and pricing considerations for delivery of products in healthcare systems around the world.
“We are uniquely positioned to apply our expertise in growth strategy, commercial development, and marketplace implementation—accelerating medical and technological innovation aimed at improving patients’ health,” Glorikian said.
About Scientia Advisors
Scientia Advisors, located in Boston and San Francisco, is a management consulting firm specializing in growth strategies for major and emerging companies in healthcare, life sciences, biotechnology and nutrition.