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Company News Release
BioClinica (NASDAQ: BIOC), a global provider of clinical trial management services, 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.
TranSenda’s suite of web-based, 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.”
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.