HASSELT, February 1st, 2023 – KWARTS has transferred its activities to the Danish DLI Market Intelligence (DLIMI), who will commercialize the software platform internationally. The transfer will be completed in the first quarter of 2023. This will bring an end to a 7-year innovation process within the Limburg scale-up led by CEO-founder Bart Van Proeyen. The software will differentiate even more from Copenhagen into a rapidly evolving international market.
“It is a huge recognition for the work done by our team, which also includes experts from Hasselt University. Over the years we have been supported by loyal customers, commercial partners and governmental bodies such as VLAIO and EIT Health – but also private investors, including Volta Ventures, business angels and imec.istart,” says Bart Van Proeyen.
After the successful initial roll-out of the KWARTS platform, including at Takeda Pharmaceutical Company, the question arose as to how the further international commercialization could most effectively take place within the current market trends.
The software market in Life Sciences is in full swing worldwide. Pharmaceutical companies are more generally redesigning their technology and data infrastructure, with a relentless focus on targeted therapies and improving the customer experience. The balance of power in the software landscape is under threat and consolidation is just around the corner.
Van Proeyen further explains the decision in this context: “Within the board, we have compared various growth scenarios and evaluated with a critical eye how we could give our data platform the best growth opportunities. The conclusion was that a stand-alone go-to-market would be highly challenging within the international context. The further development of our own sales channel and service capabilities would also not differentiate us sufficiently from other players. The search for a strategic partner with an existing commercial network, that also has qualitative market data available with which we could further increase confidence in our AI algorithms, proved to be a crucial factor for success. Such a partner was found with DLI Market Intelligence, which ultimately led to the sale to the Danish company. You must be ambitious, but also pragmatic at the right time: to deliver digital transformation in a growing ecosystem, you have to be able to cook with the right ingredients.”
Søren-Ulrik Fangholm, COO, Lif Group & Managing Director DLIMI, adds: “We believe in the chosen path and vision for the future of KWARTS. The platform is well put together and enables us to further broaden our commercial offering, both functionally and geographically. We are building on their strong business development efforts in Europe and the US in recent years.”
By now unleashing the AI algorithms of KWARTS on valuable data about medical communication, prescriptions and treatments that DLIMI has at its disposal, the Danish acquirer seems very well placed to increase the quality of insights and to demonstrate the financial impact more precisely. The software will thus become even more powerful, under a new roof with all the necessary strategic ingredients to continue to fulfill its pioneering role.
“Because DLI Market Intelligence is part of The Danish Association of the Pharmaceutical Industry (including Amgen, Lundbeck, Pfizer and Novartis on its governing body), we believe that it is the right party to increase the adoption of AI-driven working in the industry. As icing on the cake, DLIMI is concerning the Nordics, where access to physicians is very difficult today and so the need for this solution is perhaps the highest," concludes Bart Van Proeyen.
Bart Van Proeyen
CEO-founder and Managing Director, KWARTS
+32 494 60 95 38
Søren-Ulrik Rolsted Fangholm
Chief Operating Officer, LIF Group
Managing Director, DLI Market Intelligence
+45 39 15 09 45
KWARTS was founded in 2016 by Bart Van Proeyen and has its registeredoffice in Hasselt (Belgium). It is the young technology company behind aninnovative customer data platform for the Life Sciences industry. Ruben De Moorjoined the company in 2021. Other investors behind KWARTS are Volta Ventures,BlueHealth Innovation Fund, imec.istart and several private business angels.The company received support from VLAIO in its early days and more recentlyfrom EIT Health for commercial expansion into the United States.
DLIMI is a trusted, data-based partner helping life science companies inDenmark and the Nordics realize their potential - ultimately for the benefit ofpatients and society. We have more than 40 years’ experience in exploringmarket dynamics, delivering insights into market trends, and supporting ourcustomers’ market development. DLIMI is owned by The Danish Association of thePharmaceutical Industry (Lif), which gives us deep insights into the decision-makingprocesses of authorities. We’re an excellent mix of consultants, specialists,analysts, and data scientists – a true breeding ground for new ways of thinkingand new insights.