PERCEPTIVE INFORMATICS ACQUIRES INVANTAGE, INC.
BOSTON, MA, September 10, 2002 — Perceptive Informatics, Inc. (Perceptive), a subsidiary of PAREXEL International Corporation (Nasdaq: PRXL), today announced the acquisition of Invantage, Inc., a software company based in Cambridge, Massachusetts. Invantage, a privately held company, provides software and services to the pharmaceutical and biotechnology industries. The terms of the deal were not disclosed.
Established in 1994, Invantage has focused on the development of solutions that expedite clinical study start-up via a portfolio of advanced software applications and associated services. Invantage’s flagship product, the Investigator DataWeb Enterprise Edition, is a sophisticated web-based data repository of potential clinical investigators combined with a decision support environment for initiating clinical trials. The product was developed in conjunction with a number of major pharmaceutical companies.
Mark A. Goldberg, M.D., President of Perceptive stated, “Pharmaceutical and biotech companies face a significant challenge in managing relationships with clinical investigators and in monitoring their study performance. Invantage has developed an excellent product that extends the capabilities of our Perceptive Portal™ to include client proprietary investigator databases. The system assists sponsors in the selection of study sites and accelerates other study start-up activities. We believe that this is one of the key areas where technology can have a beneficial impact on compressing project timelines.” Perceptive Portal is a web-based trial management tool that provides project teams with real-time study metrics, document management, clinical data visualization, reporting, and collaborative tools.
PAREXEL does not anticipate the acquisition to have a material impact on overall company revenue or earnings per share for Fiscal 2003.
Perceptive Informatics, Inc. develops and offers a portfolio of sophisticated and innovative technology-based products and services that facilitate clinical drug development and are designed to decrease time to peak sales. The technology portfolio includes web-based portal solutions and tracking tools, Interactive Voice Response Systems (IVRS), electronic data capture, and electronic diary solutions. Perceptive also offers advanced medical diagnostics services to assess rapidly and objectively the safety and efficacy of new drugs, biologics, and medical devices in clinical trials. The Company is headquartered near Boston, MA with approximately 180 employees in offices located throughout North America and Europe. Perceptive Informatics is a subsidiary of PAREXEL International Corporation, one of the largest pharmaceutical outsourcing organizations in the world, providing a broad range of knowledge-based contract research, medical marketing and consulting services to the worldwide pharmaceutical, biotechnology and medical device industries. PAREXEL operates in 56 locations throughout 37 countries around the world, and has approximately 4,930 employees.
This release contains "forward-looking" statements regarding future results and events, including statements regarding expected financial results, future growth and customer demand that involve a number of risks and uncertainties. For this purpose, any statements contained herein that are not statements of historical fact may be deemed forward-looking statements. Without limiting the foregoing, the words "believes", "anticipates", "plans", "expects", "intends", "appears", “estimates”, “projects” and similar expressions are intended to identify forward-looking statements. PAREXEL’s actual future results may differ significantly from the results discussed in the forward-looking statements contained in this release. Important factors that might cause such a difference include, but are not limited to, risks associated with: actual operating performance; actual expense savings and other operating improvements resulting from recent restructurings; the cancellation, revision, or delay of contracts, including those contracts in backlog; PAREXEL’s dependence on certain industries and clients; PAREXEL’s ability to win new business, manage growth, and attract and retain employees; PAREXEL's ability to complete additional acquisitions and to integrate newly acquired businesses or enter into new lines of business; government regulation of certain industries and clients; competition and consolidation within the pharmaceutical industry; the potential for significant liability to clients and third parties; the potential adverse impact of health care reform; and the effects of exchange rate fluctuations and other international economic and political risks. Such factors and others are discussed more fully in the section entitled "Risk Factors" of PAREXEL's Form 10-Q for the period ended March 31, 2002, as filed with the Securities and Exchange Commission, which “Risk Factors” discussion is incorporated by reference in this press release. PAREXEL disclaims any duty to update any of the forward-looking statements contained in this press release.