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Expands Core Clinical Trial Services Area Into Fast-Growing Electronic Data Capture Market
Conference Call Scheduled For Today At 11 A.M. EDT
NEWTOWN, PA, March 25, 2008 -- Bio-Imaging Technologies, Inc. (“Bio-Imaging”) (NASDAQ: BITI) today announced that it has acquired privately held Phoenix Data Systems, Inc., a leading global clinical data services provider of electronic data capture (EDC) services and a comprehensive array of broadly interoperable eClinical data solutions to the pharmaceutical and biotechnology industries. The acquisition is a cash and stock transaction valued at $24 million, payable at closing, consisting of $7.0 million of cash and 2,287,582 shares of Bio-Imaging stock valued at $17.0 million.