Most recently, Tourtellotteintroduced Trident, a next-generation interactive voice/interactive webresponse system (IXR) that "redefines how interactive response technology canfunction in the biopharmaceutical industry," the company says. It isparameter-driven, built specifically for the Web, and is able to support rapid,flexible customization that supplies greater control over cost and data thantraditional IVR.
"When we looked at strategies torapidly grow and expand the company to meet the demand for our products,joining the BioClinica team was the logical step," says Tourtellotte."BioClinica has a strong global presence in the market, robust productofferings and great client relationships. Their experienced sales andoperations infrastructure will enable the benefits of clinical trial supplyoptimization and the next generation of IXR to reach more new clients, faster.We look forward to being an integral part of BioClinica's continued success."
Weinstein points out that sizematters to Big Pharma and that BioClinica, which now serves all 10 of the 10largest pharmas and 75 percent of the top 50, can leverage Tourtellotte'sproducts and services more effectively than Ed Tourtellotte's company could onits own.
"Tourtellotte Solutions embracesmany of the same tenets that have yielded success for BioClinica's clients overthe past 20 years," he notes, "and we welcome them to our team."
BioClinica is purchasingsubstantially all of the assets of Tourtellotte for $2.1 million in cash atclosing plus additional payments based upon achieving certain milestones. Ifcertain predetermined milestones are achieved, an additional $3.2 million incash and 350,000 shares of BioClinica common stock can be earned.
Excel Partners LLC acted asexclusive financial advisor to BioClinica in this transaction and CovingtonAssociates LLC acted as exclusive financial advisor to Tourtellotte.
