– Adds Clinical Trial Management Software With Microsoft Office Interoperability –
March 26, 2010. NEWTOWN, PA – BioClinica®, Inc., (NASDAQ: BIOC), a global provider of clinical trial management services, today announced its acquisition of substantially all of the assets of privately held TranSenda International, LLC ("TranSenda"). Headquartered in Bellevue, WA, TranSenda is a provider of clinical trial management software (CTMS) solutions and is a Microsoft Gold Certified Partner.
TranSenda's innovative suite of web-based, Office-Smart CTMS solutions and patent-pending integration technologies create efficiencies for trial operations through interoperability with Microsoft Office tools. With this acquisition, BioClinica enhances its ability to serve customers throughout the clinical research process with technologies that include improved efficiencies by reducing study durations and costs through integrated operational management.
"TranSenda brings a line of Office-Smart clinical trial management solutions to BioClinica that will become a part of our Microsoft Office-enabled delivery vision," said Mark Weinstein, CEO of BioClinica. "With the incorporation of TranSenda's technology, our customers will benefit from the compatibility and ease-of-use efficiencies that exist across the broader eClinical domain. This acquisition is an important step forward as we continue to advance our integrated eClinical solutions model and execute our strategy of bringing best-in-class technology and resources to our customers."
Mr. Weinstein continued "The acquisition of TranSenda not only enhances our portfolio of clinical trial technology, it also provides us intellectual property with thought leaders and domain experts in trial planning and management. We welcome Bob Webber and his team to BioClinica."
"We are excited to join BioClinica as it will provide us the ability to expand our market reach and delivery to the global marketplace and fulfill the demand for our technologies," said Robert Webber, President of TranSenda International. "We expect BioClinica's expertise, scope of quality customer relationships and their overall global presence will be catalysts to the growth of our technologies and market reach."
"Information workers in the life sciences industry are often challenged with working across many different systems throughout the clinical trial process," said Michael Naimoli, director of life sciences industry solutions, Microsoft Corp. "TranSenda has helped pharmaceutical companies address these problems, providing solutions that allow professionals to work within the familiar Microsoft Office environment. We're pleased that BioClinica customers will also benefit from these tools and continue to simplify the workflow and clinical trials information management process."
Under the terms of the agreement, BioClinica is purchasing substantially all of the assets of TranSenda for 577,960 shares of BioClinica unregistered common stock at closing. For 2010, BioClinica expects TranSenda to contribute approximately $1.0 million in service revenue and an operating loss of $500,000. Additional financial details will be provided when BioClinica releases its first quarter 2010 results as well as full year 2010 guidance, which will include TranSenda's contribution. Additional terms of the agreement will be disclosed on a Form 8-K to be filed the same day as this press release.