PHILADELPHIA, Nov. 27 /PRNewswire-FirstCall/ -- eResearchTechnology, Inc. (eRT), , a leading provider of technology and services to the pharmaceutical, biotechnology and medical device industries, announced today that it has agreed to acquire the centralized ECG business of Covance Inc. In addition, Covance and eRT have entered into an exclusive ten-year marketing agreement to supply eRT’s centralized cardiac safety services to Covance’s clients. It is expected that the acquisition will close on or before November 28, 2007.
Dr. McKelvey and Richard Baron, the Company’s Chief Financial Officer, will hold a conference call to discuss this acquisition and the marketing arrangement. The conference call will take place at 8:30 a.m. EST on November 28, 2007. For the conference call interested participants should dial 800-322-5044 when calling within the United States or 617-614-4927 when calling internationally along with the pass code 80759494. There will be a playback available through 11:59 p.m. (EST) on December 4, 2007. To listen to the playback, please call 888-286-8010 when calling within the United States or 617-801-6888 when calling internationally. Please use pass code 30747023 for the replay.
This call is being webcast by Thomson Financial and can be accessed at eRT’s web site at http://www.eRT.com. The webcast may also be accessed at http://phx.corporate-ir.net/playerlink.zhtml?c=119164&s=wm&e=1706207 . The webcast can be accessed until November 28, 2008 on either site.
Based in Philadelphia, PA, eResearchTechnology, Inc. (http://www.eRT.com) is a provider of technology and services to the pharmaceutical, biotechnology and medical device industries on a global basis. The company is a market leader in providing centralized core-diagnostic electrocardiographic (ECG) technology and services to evaluate cardiac safety in clinical development. The company is also a leader in providing technology and services to streamline the clinical trials process by enabling its customers to automate the collection, analysis, and distribution of clinical data in all phases of clinical development.
Statements included in this release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements involve a number of risks and uncertainties such as competitive factors, technological development, market demand, and the company’s ability to obtain new contracts and accurately estimate net revenues due to variability in size, scope and duration of projects, and internal issues in the sponsoring client. As a result, actual results may differ materially from any financial outlooks stated herein. Further information on potential factors that could affect the company’s financial results can be found in the company’s Reports on Form 10-K and 10-Q filed with the Securities and Exchange Commission.
rbaron@ert.com
CONTACT: Richard Baron, eResearchTechnology, Inc., +1-215-282-5566,
rbaron@ert.com, or Robert East, Westwick Partners, LCC, +1-410-321-9652
Web site: http://www.eRT.com/
