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Bioclinica Acquires Clinverse

Leading Provider Expands into Financial Management Solutions for Clinical Trials

January 19, 2016

Bioclinica®, Inc., a specialty clinical trials services and technology provider, announced today that it has acquired Clinverse, Inc. The acquisition expands Bioclinica's offerings into the growing market of automated financial management technology solutions for global clinical trials. Clinverse is the latest investment that Bioclinica has completed to build the company into a leading provider of solutions that bring quality and efficiency to every phase of clinical trial development.

Clinverse is now a Bioclinica CompanyHeadquartered in Durham, North Carolina, Clinverse automates and manages the entire financial lifecycle of global clinical trials for contract research organizations (CROs) and pharmaceutical companies. Its suite of products pays clinical trial sites, vendors and their subjects; budgets and forecasts trial expenditures and converts tax and exchange rates in more than 200 countries and 140 currencies globally. Clinverse's products also can be integrated with other eClinical platforms. The company's services have saved CROs and pharmaceutical corporations as much as 50 percent of their operational costs.

"We are delighted to add Clinverse's capabilities to Bioclinica's portfolio of solutions," said Dr. John Hubbard, President and Chief Executive Officer, Bioclinica.

"Managing clinical investigator payments has been a significant challenge for our industry. For years, sponsors have manually tracked and paid clinical trial sites. Clinverse developed one of the first automated solutions to alleviate companies of this burden. The company is making a significant impact in reducing costly errors, improving satisfaction and increasing operational efficiencies to mitigate this major pain point in drug development."

- Dr. John Hubbard, President and Chief Executive Officer, Bioclinica

Clinverse will become part of Bioclinica's eHealth Solutions business segment, which offers technology solutions to support pharmaceutical companies and CROs in the efficient management and conduct of clinical trials, as well as Safety and Regulatory Solutions. In addition to eHealth technologies, Bioclinica offers a comprehensive portfolio of services encompassing medical imaging and biomarkers, patient recruitment and retention services, a research site network and a post approval research division. The company has invested in strategic initiatives and acquisitions to expand its capabilities and services since merging with CCBR-SYNARC in 2014 to become a leading clinical trial services provider.

"We are excited to join Bioclinica," said Jay Trepanier, Chief Executive Officer, Clinverse. "This partnership will accelerate our goal of becoming the best-in-class solution for financial services in the clinical trial industry. Our relationship will allow us to strengthen our operational capabilities out of the gates, while we continue to aggressively invest in enhancing our technology and services. Our customers will benefit from becoming part of an innovative leader in the industry that offers extensive resources and services. We also look forward to bringing our specialized expertise to Bioclinica's clients."

Trepanier will continue to lead Clinverse and report to Mukhtar Ahmed, President of Bioclinica's eHealth Solutions Segment.

About Clinverse, Inc.
Clinverse, Inc. architected the industry's first automated financial management technology solution for clinical trials. Powered by our secure technology platform, our solution standardizes clinical trial financial management for millions of financial transactions across the globe, including clinical site payments. Used by leading BioPharma companies, our solutions remove antiquated manual process so our clients benefit from reduced workload, time and costs gained through automation and unprecedented transparency and workflow. For more information, please visit www.clinverse.com.

About Bioclinica

Bioclinica is an integrated clinical life science solutions provider, delivering powerful insight into clinical trial development, assuring greater client success in bringing medical therapies to market, for people around the world. Through deep medical, scientific and technology expertise, the company provides medical imaging and cardiac safety services; clinical adjudication; randomization and trial supply management and optimization; electronic and eSource data capture; site and patient payments; clinical trial management software; and drug safety solutions. Bioclinica’s global team of life science experts serve more than 500 pharmaceutical, biotechnology and device organizations – including the top 20 biopharmaceutical companies and leading CROs – through offices in North America, Europe, and Asia.

 

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Media Contact
Nicole Klatsky
+1 (609) 865-5212

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