Bio-Imaging expects EDC synergies with PDS.
By Ann Neuer
June 10, 2008 | Bio-Imaging Technologies, a provider of medical image management for clinical trials, has acquired Phoenix Data Systems, a privately held electronic data capture (EDC) company. Phoenix is now a division of Bio-Imaging.
At first glance, this looks to be an unusual pairing as the two outfits occupy different niches in the clinical trials sector. But each company had been looking to move to thet next level within the industry by expanding their service offerings.
Mark Weinstein, president and CEO of Bio-Imaging, says that his company has had a tremendous interest in the EDC market, which it estimates as a $1 billion opportunity within five years. “We’ve been wanting to be a player in the EDC space, which we see as closer to the center of the clinical data universe,” says Weinstein.
In Phoenix, Bio-Imaging found a rapidly growing company with a very hands-on management committed to top-notch customer service. “Phoenix has a good, solid EDC system that has been used in over 500 clinical trials... We realized we could leverage our core competencies to make more together than we could individually,” Weinstein explained.
Bio-Imaging brings critical mass, financial stability, an international presence in the medical imaging market, and good business know-how to the table. Phoenix brings a strong client base of small to mid-size biopharmaceutical companies; nearly 200 new starts using the company’s EDC solution, PDS Express, scheduled for 2008; and financial strength as the company has been built without taking in venture capital.
Both companies see clear opportunities for entry into each other’s markets. At this time, sales forces will remain separate but will look for synergies. In the short term, data sets generated by Bio-Imaging and Phoenix Data Systems will not be integrated, although in the long term that may change. To get started, Bio-Imaging and Phoenix Data will continue to function separately although Bio-Imaging will be handling many back-office management functions.
This article appeared in Bio-IT World Magazine.
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