ERT Agrees to Acquire the Research Services Division of CareFusion

eResearchTechnology (ERT) has agreed to acquire the research services division of CareFusion Corporation (CRS) for US$81 million in cash. All will be integrated into the former’s existing business. The former stated that the transaction is expected to close in June 2010 pending satisfaction of customary closing conditions. No stockholder approvals are required.

Dr Michael McKelvey, president and CEO of ERT, said, “Our company is building upon our leadership in cardiac safety and our expertise as a service and technology provider to combine with one of the clinical research industry’s leading respiratory diagnostics core labs, technology companies, and diagnostic device manufacturers. This transaction delivers on our stated strategy to leverage our cardiac platform and operating model to more broadly support the centralized collection, interpretation and delivery of clinical efficacy and safety information critical for all phases of clinical research and to provide support to leverage our core expertise into the larger healthcare market.”

Dr McKelvey added, "CRS has developed an impressive business providing integrated, customized solutions relating to pulmonary function testing and other services for its clients. This acquisition will provide our existing and new clients in the clinical research industry with the ability to more efficiently capture, process, and distribute clinical data during all phases of drug development.”

Dr McKelvey continued, “In addition to adding an entire new line of business to ERT, the acquisition also brings immediate added scale to our two current lines of business – cardiac safety and electronic patient reported outcomes (ePRO). Between cardiac safety, respiratory diagnostics, and ePRO, we will be better positioned to address a clinical research market estimated at approximately US$1.3 billion annually and to extend our capabilities to further innovate and integrate offerings for the benefit of our clients.”