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i3 Research Acquires STATPROBE, Inc.


10/19/2005 5:11:44 PM

BASKING RIDGE, N.J., Oct. 4 /PRNewswire/ -- i3 Research, a therapeutically specialized contract research organization (CRO), has acquired Statprobe, one of the largest and most highly regarded providers of comprehensive data services, with five locations throughout the United States. A leader in data management, programming, biostatistics, and medical writing services, Statprobe is known for outstanding quality and strategic use of technology, distinctions shared by i3.

The Statprobe acquisition and its merger with i3 Data Services elevates i3's data services to a global leadership position. Under the new name, i3 Statprobe, the expanded company will offer comprehensive data services and world-class electronic data capture/remote data capture (EDC/RDC) capabilities in more than 45 countries. This development will provide Statprobe with an international platform for growth, while augmenting i3's already strong customer-focused position in data services.

"This merger weds two companies with similar ideologies: both are focused on customer service and quality, both use technology strategically, and both continually innovate to provide clients with the most creative solutions," said i3 Research Chief Executive Officer Glenn Bilawsky. "We are excited about the powerful synergies created here and we know that we will continue to exceed our clients' expectations."

Statprobe's revenues have doubled in the last six years to nearly $32 million, due in part to strong offerings in data management, programming, biostatistics and medical writing services that have set new quality standards for the industry. Statprobe's loyal customer base includes the world's leading biotechnology companies, which account for two-thirds of its revenues. This biotech stronghold will supplement i3's substantial foundation of mid- to large-sized pharmaceutical clientele.

"For 16 years, Statprobe has delivered the highest quality data solutions to the pharmaceutical, biotechnology, and medical device industries. We are pleased to have found a partner who also values quality, clinical expertise, innovation, and state-of-the-art technological solutions," said Lora H. Schwab, Ph.D., co-founder of Statprobe.

Statprobe has a healthy project backlog, more than 90 percent of which is comprised of repeat customers. In fact, several clients have been with the company since its early days 15 years ago. Statprobe's employees also remain loyal, with low turnover that has fomented a seasoned staff.

Both companies value mutual respect and attention to detail among employees. i3, which places a premium on experienced staff, has a therapeutic focus in oncology, central nervous system, and respiratory and infectious disease that enables it to hire professionals who are expert in those fields. More than half of Statprobe's current projects fall into one of i3's areas of specialization.

The acquisition also benefits i3 Pharma Resourcing by providing a Midwest presence that fills its only geographic void in the U.S. Statprobe's OnSite Services will add to i3's already robust pool of clinical research professionals who are available to work at client offices or other sites.

About i3 Research

i3 Research, an Ingenix company, is a full-service, specialized contract research organization focused in oncology, central nervous system, and respiratory and infectious disease. i3 delivers high-quality therapeutic science so its clients can develop better products for improved patient care. For more information, visit http://www.i3research.com/.

i3 Research

CONTACT: i3 Research, +1-800-765-6709, or info@i3research.com



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