ERT Closes the Acquisition of the Research Services Division of CareFusion Corporation
News Jun 02, 2010
ERT (eResearchTechnology, Inc.) has announced the successful closing of the acquisition of the Research Services Division of CareFusion Corporation (CRS). CRS is a leading provider of respiratory diagnostics services and manufacturer of diagnostic devices and also offers cardiac safety and ePRO services.
The combined company offers a market leading position in the clinical research market for cardiac safety services, cardiac safety consulting, respiratory services, ePRO services, and medical devices. The acquisition will serve to diversify ERT’s revenue base, expand its global footprint and increase the potential for development of new services and products in clinical research and healthcare delivery.
Dr. Michael McKelvey, President and CEO of ERT, said “ERT is pleased to announce that we have completed the acquisition of CareFusion’s Research Services Business. The acquisition expands ERT’s capabilities, allows us to pursue new markets and reinforces our position as the leading service and technology provider enabling our customers to more efficiently collect, interpret and deliver clinical data during all phases of drug development.”
As previously reported, ERT paid $80.8 million in cash for CRS and the acquisition allows ERT to integrate all of the CRS offerings into its existing portfolio, delivering the following six strategic benefits:
• Establishes ERT as one of the market leaders in respiratory core lab services in the clinical trials market
• Provides ERT with a leading diagnostic device capability
• Expands ERT’s revenue base in cardiac safety
• Provides scale for ERT’s ePRO business, as well as expanding the depth and breadth of its ePRO services
• Expands significantly ERT’s global footprint
• Accelerates ERT’s movement into healthcare solutions
The completion of this acquisition and the subsequent combination of these two organizations will allow ERT to further innovate to produce better science at a lower cost with the best user experience for the benefit of its clients.