BioClinica said that with this acquisition, it has enhanced 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.
As per the terms of the agreement, BioClinica will purchase 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 $1m in service revenue and an operating loss of $500,000.
Mark Weinstein, CEO of BioClinica, said: “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. 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. 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.”