Clearstone Announces Strategic Repositioning to Focus on Core Laboratory Business

May 28, 2010

Company News Release

Clearstone Central Laboratories

, a provider of central laboratory services for clinical trials, announced that it intends to sell or wind down over time its Centralized Cardiac Services (CCS) business in order to focus on its core laboratory business.
 
“Clearstone has set out to be a market leader, and in doing so we have had to make some strategic decisions to position the business for service excellence and growth. This action allows us to focus all of our efforts on further developing our core laboratory business” said Clearstone CEO Lewis Cameron.  “We will continue to make significant investments in our facilities, people, technology and processes to better serve our clients. Recent examples include the expansion of testing capabilities at our Beijing and Toronto sites in response to market needs, and continued investment in our central laboratory protocol management system APOLLO CLPM™.”
 
The company also announced a restructuring due in part to this strategic repositioning. As such, a number of positions will be affected at the company’s Baillet lab operations in Paris, France. “It will take some months to work through the redundancy plan with our Baillet Works Council in accordance with French labour laws” added Mr. Cameron.  “We will be taking every step possible to support affected staff and continue providing clients with the highest level of service during the transition period.  In the meantime it is very much business as usual in our core laboratory operations, and we look to the future with great optimism as we continue to focus on service delivery and growth in emerging markets.”

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