AstraZeneca recently launched a new health-tech business called Evinova, which will use the company’s expertise in clinical trial design and study delivery. The Anglo-Swedish pharmaceutical giant aims to provide scaleable solutions to trial sponsors, clinical research organizations, care teams, and patients.

Evinova’s offerings include advanced data collection methods and machine learning algorithms to support teams in designing their studies. By implementing these tools, the company hopes to reduce the time and cost of developing new medicines, bring care closer to home for patients, and ease the burden on healthcare systems. To expand its reach, Evinova has formed major collaborations with clinical research organizations Parexel and Fortrea.

According to AstraZeneca’s Chief Executive Pascal Soriot, he is confident that Evinova will have a significant impact on patient care, healthcare transformation, and carbon emissions reduction. The company also expects the digital health market to grow significantly in the coming years, projecting it to be worth more than $900 billion by 2032.

For more information about Evinova or any other topics related to this story, please contact Michael Susin at michael.susin@wsj.com