• SKIP TO CONTENT
  • SKIP NAVIGATION
  • Patient Resources
    • COVID-19 Patient Resource Center
    • Clinical Trials
    • Search Clinical Trials
    • Patient Notification System
    • What is Clinical Research?
    • Volunteering for a Clinical Trial
    • Understanding Informed Consent
    • Useful Resources
    • FDA Approved Drugs
  • Professional Resources
    • Research Center Profiles
    • Clinical Trial Listings
    • Market Research
    • FDA Approved Drugs
    • Training Guides
    • Books
    • eLearning
    • Events
    • Newsletters
    • White Papers
    • SOPs
    • eCFR and Guidances
  • White Papers
  • Trial Listings
  • Advertise
  • COVID-19
  • iConnect
  • Sign In
  • Create Account
  • Sign Out
  • My Account
Home » Bio-Imaging to Acquire etrials

Bio-Imaging to Acquire etrials

May 5, 2009
CenterWatch Staff

Only a week after Bio-Imaging Technologies announced a name change to BioClinica and alluded to future acquisitions, the contract research organization (CRO) announced this morning its intent to acquire troubled eClinical vendor etrials Worldwide.

Under the terms of the acquisition agreement, the sale will be consummated through a tender offer for all outstanding shares of etrials stock. For each share of etrials stock, shareholders will receive 0.124 shares of newly issued Bio-Imaging common stock, 0.076 shares of newly issued Bio-Imaging preferred stock, and $0.15 in cash, which equates to a value of $0.9068 per share for etrials, representing a 27% premium to the average closing price for the past 30 days. Stockholders with 33% of etrials outstanding shares have already agreed to tender their shares, and the tender offer is expected to expire on or about June 15, 2009.

Morrisville, N.C.-based etrials has struggled in recent months, reporting in March a $15.8-million loss for 2008. The eClinical company posted losses for every quarter of 2008 and lost three senior executives (CEO, COO and CFO) last summer.

BioClinica did not comment on the etrials acquisition but in an interview with CenterWatch last week, BioClinica president and CEO Mark Weinstein discussed his company’s plans to acquire other companies.

“It’s a very interesting time in the marketplace. A lot of people would say it’s not a great time. I can’t tell you that I’m happy that my stock price has come down with everybody else’s, but I will tell you that having $15 million in the bank, being a public company, not having any debt, being profitable and growing puts us in a very interesting position because there are a number of good companies out there in a different stage of their life cycle where the storyboard that they laid out two years ago is no longer feasible,” Weinstein said.

Upcoming Events

  • 16Feb

    Fundamentals of FDA Inspection Management: Reduce Anxiety, Increase Inspection Success

  • 21May

    WCG MAGI Clinical Research Conference – 2023 East

Featured Products

  • Spreadsheet Validation: Tools and Techniques to Make Data in Excel Compliant

    Spreadsheet Validation: Tools and Techniques to Make Data in Excel Compliant

  • Surviving an FDA GCP Inspection

    Surviving an FDA GCP Inspection: Resources for Investigators, Sponsors, CROs and IRBs

Featured Stories

  • Revamp-360x240.png

    Califf Calls for Major Evidence Generation Revamp, Experts’ Opinions Differ

  • AskTheExpertsGreen-360x240.png

    Ask the Experts: Managing Investigational Products

  • SurveywBlueBackground-360x240.png

    Survey Outlines Site Challenges, Successes on Diversity

  • PatientCentricity-360x240.png

    Site Spotlight: DM Clinical Shows Patient Centricity Doesn’t Have to Break the Bank

Standard Operating Procedures for Risk-Based Monitoring of Clinical Trials

The information you need to adapt your monitoring plan to changing times.

Learn More Here
  • About Us
  • Contact Us
  • Privacy Policy
  • Do Not Sell or Share My Data

Footer Logo

300 N. Washington St., Suite 200, Falls Church, VA 22046, USA

Phone 617.948.5100 – Toll free 866.219.3440

Copyright © 2023. All Rights Reserved. Design, CMS, Hosting & Web Development :: ePublishing