Questions? +1 (202) 540-8337 Login
Trusted News Since 1995
A service for global professionals · Thursday, July 19, 2018 · 456,020,913 Articles · 3+ Million Readers

Healthcare Acquisitions: ERT Buys CareFusion Unit

June 3, 2010 (FinancialWire) — eResearchTechnology, Inc., (NASDAQ: ERES), a provider of technology and services to the pharmaceutical, biotechnology, and medical device industries, has closed the acquisition of the research services division of CareFusion Corp. (NYSE: CFN).

CRS is a provider of respiratory diagnostics services and manufacturer of diagnostic devices and also offers cardiac safety and ePRO services.

According to ERT, the combined company offers a leading position in the clinical research market for cardiac safety services, cardiac safety consulting, respiratory services, ePRO services, and medical devices.

The company said that the acquisition will serve to diversify its revenue base, expand its global footprint, and increase the potential for development of new services and products in clinical research and healthcare delivery.

ERT paid $80.8 million in cash for CRS after giving effect to preliminary closing balance sheet adjustments. The acquisition was financed from ERT's existing cash and $23 million drawn from ERT's new $40 million revolving credit facility through Citizens Bank of Pennsylvania.

The credit facility was established on May 27, 2010.

ERT said it plans to issue updated forward-looking financial guidance for the second half of 2010 and for the calendar year 2010 in conjunction with its release of earnings for the second quarter of 2010.

Pennsylvania-based eResearchTechnology provides centralized core-diagnostic electrocardiographic technology and services to evaluate cardiac safety in clinical development and centralized respiratory technology and services to evaluate pulmonary function efficacy and safety in clinical development.

Real-time, streaming research for companies and funds mentioned in FinancialWire(tm) news is available via the Investrend Research Syndicate, courtesy of Stock Smart (at http://investrend.stocksmart.com/ss/html/hpcompany.html).

FinancialWire(tm) is committed to serving the financial community through true journalism and providing relevant resources to investors. Standards-based, independent equity research on numerous public companies is available through the Investrend Research Syndicate (http://www.investrend.com/reports) written by FIRST Research Consortium (http://www.investrend.com/FIRST) member-providers. Free annual reports and company filings for companies mentioned in the news are available through the Investrend Information Syndicate (at http://investrend.ar.wilink.com/?level=279). FinancialWire(tm), in cooperation with the Investrend Broadcast Syndicate, also provides complete, daily conference call and webcast schedules as a service to shareholders and investors via the FirstAlert(tm) Network’s “FirstAlert(tm) Daily” (at http://www.financialwire.net/news-alerts/).

FinancialWire(tm) is a fully independent, proprietary news wire service. FinancialWire(tm) is not a press release service, and receives no compensation for its news, opinions or distributions. Further disclosure is at the FinancialWire(tm) website at http://www.financialwire.net/disclosures.php and http://www.financialwire.net/2010/04/23/safe-harbor/). Additional resources for investors are also accessible via the FinancialWire(tm) website (at http://www.financialwire.net/2010/04/23/investor-resources/). Contact FinancialWire(tm) directly via inquiries@financialwire.net.

[hlmsmlh] [hlthcrdp] [mrgrsacqstns] [btnwswntb]

Powered by EIN Presswire