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PHT Corporation Strengthens ePRO Market Dominance with Record Year in 2004; Industry Leader Grows New Contract Revenues by 87%, Adds 14 New Clients
CHARLESTOWN, Mass.--Feb. 15, 2005--PHT Corporation, the market-leading provider of electronic patient reported outcomes (ePRO) solutions used in over 150 trials worldwide, enjoyed a record year in 2004. During the year, PHT increased new contract revenues by over 87% while adding 14 new clients including Rinat Neuroscience, Orphan Medical and Greer Laboratories. PHT's customer base grew to more than 50 companies including 13 of the top 15 drug development firms in the world.
Additional highlights and accomplishments from the year:
-- Deployed LogPad(R) and StudyPad(TM) Systems, PHT's market-leading ePRO solutions, in over 20 new languages and 10 new countries
-- Awarded over 25 new trials by Top-10 pharmaceutical companies, 90% of whom are repeat PHT customers
-- Broadened experience with multiple indications including those in the Gastrointestinal, Respiratory, Pain and Central Nervous System therapeutic areas
-- Expanded customer base to include more biotechnology and mid-size pharmaceutical companies
-- Increased office space by nearly 25% to accommodate rapid growth in new employees and customer demand
-- Tripled European business from the previous year
-- Experienced strong growth in Wireless LogPads, which were utilized in more than one-third of all global trials implemented by PHT in 2004
-- Hosted the industry's only annual ePRO User Group meetings in the United States and Europe
-- Remained the only ePRO provider with ISO 9001:2000 certification, demonstrating PHT's commitment to quality and customer satisfaction
PHT attributes its growth to a proven track record of success, which in 2004 was highlighted by the completion of the industry's largest global ePRO trial, encompassing 20,000 patients and 4,000 sites. Increasing marketing adoption of ePRO solutions also contributed to PHT's milestone year, as more companies began to realize the benefits the LogPad System provides including improved data quality, patient compliance and trial process efficiency.
In a randomized study comparing electronic diaries to paper methods in patients with chronic primary insomnia, PHT client Merck Research Laboratories found that LogPad data had a standard deviation 35% smaller than paper data. Merck further calculated that this improvement in dataprecision could enable a reduction in sample size of 56% for future similar trials.
"2004 marked the most successful year in PHT's history since we implemented the first-ever clinical trial utilizing handheld and web technologies in 1995," said Phil Lee, President and CEO of PHT. "We will continue to focus onsatisfying our customers by enabling successful clinical trials through the delivery of high quality ePRO solutions. We have entered a period of rapid market adoption of ePRO solutions and are well positioned for continued growth."
About PHT Corporation
PHT Corporation is the market-leading provider of electronic patient reported outcomes (ePRO) solutions used in over 150 trials worldwide. More than 50 biopharmaceutical and medical device companies, including 13 of the top 15 drug development firms in the world, rely on PHT's innovative andcomprehensive ePRO solutions for their Phase I-IV clinical studies. PHT's integrated Product Suite enables successful clinical trials by improving data quality, reducing data variance, and providing real-time access and analysisof the data collected. PHT has experience with more than 60,000 subjects at 8,000 clinical sites in 46 languages and 48 countries around the globe. PHT, a pioneer in developing innovative technology to meet clinical research's evolving needs, is headquartered in Charlestown, MA, and Geneva, Switzerland. For more information, please visit www.phtcorp.com.
LogPad and PHT are registered trademarks of PHT Corporation. StudyPad is a trademark of PHT Corporation.
(C) PHT Corporation