Overview
Bio-Imaging Technologies Inc., a provider of medical image management for clinical trials, has acquired Phoenix Data Systems Inc., a privately held electronic data capture (EDC) company. Phoenix is now a division of Bio-Imaging.
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.
Significance
With the expanded use of imaging in clinical trials and adoption rate of EDC growing rapidly, both companies see clear opportunities for entry into each other’s markets.
Crosstree’s Role
Crosstree Capital Partners served as exclusive financial advisor for Phoenix Data Systems, Inc.
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