Overview
ClinPhone, the global leader in clinical technology solutions, announced on October 27, 2006 the acquisition of DataLabs, a premier Electronic Data Capture (EDC) vendor.
The deal could be worth up to $68.768 million to the shareholders of DataLabs if the company meets certain performance targets.
Since its inception in 1999, DataLabs has developed a robust spectrum of software designed to streamline and simplify the data collection process, while promoting greater data integrity.
Both, ClinPhone and DataLabs, will seek to harness the combined power of their integration products to facilitate the sharing of information between disparate systems and dramatically reduce the time, cost and risk of integration projects.
Significance
This acquisition enables ClinPhone to become the first company in the biopharmaceutical sector to offer a comprehensive suite of clinical trial management and data capture system.
ClinPhone has already commenced the integration of the acquired EDC technology with its industry renowned solutions, including randomization and trial supply management (IVR and IWR), Clinical Trial Management Software (CTMS) and electronic Patient Reported Outcomes (ePRO) services.
The new organization now has more than 700 full time staff across North America, Europe and Australasia including a 24-hour client support desk and operational project management of over 450 employees plus 100 software development engineers.
Crosstree’s Role
Crosstree Capital served as exclusive financial advisor to DataLabs.
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