Precision for Medicine, formed in 2012 to support next-generation approaches to drug development and commercialization, has acquired Hobart Group Holdings, a market access firm.

"A primary aim of Precision is to improve the value proposition of medical products and ultimately improve patient outcomes," said Ethan Leder, CEO of Precision. "With the acquisition of Hobart, we continue to build a unique service offering that integrates evidence generation, analytics and communications to address the needs of the patient-centric, multi-payer landscape that characterizes modern healthcare."

Hobart was founded in 2003 and has grown into a managed markets firm dedicated exclusively to product value. The company supports more than 60 biopharmaceutical brands. Hobart’s service model combines deep in-house subject matter experience across payer, provider and distribution systems with state-of-the-art content creation and delivery.

Dan Renick, RPh, president of Hobart and newly named co-president of Precision, said, "Demonstrating value is increasingly complex as required metrics shift from large populations to individual patients, and payers work to address the needs of consumers, health insurance exchanges, integrated delivery systems and accountable care entities. Bridging the value gap that often exists between the pharmaceutical and life sciences industry and its customers requires next-generation approaches to scientific evidence, analytics and communications. Precision is ideally positioned to help clients address these issues, creating a positive impact for healthcare consumers everywhere."

Lisa B. Bair, founder of Hobart, has left the company.