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PRESS RELEASE |
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MedChannels Inks Major HRC DealLAS VEGAS, NV, Jul. 29, 2008 /PRNewswire-FirstCall/ -- MedChannels, a state of Ohio limited liability corporation, said yesterday that they have entered into a substantial, multi-product agreement with a leading healthcare research consortium.Martin James, CEO of MedChannels stated, "This large HRC - - a seven hospital site, with a catchment area of 300,000 potential subjects - - chose MedChannels based on our proprietary HIPAA-compliant, de-identified database software. Their utilization of the Emergency Department as the gateway for clinical trials research, and our expertise in acquiring high quality data at the point-of-care, will substantially enhance the growth of this HRC. MedChannels will be the sole provider of EDC, CTMS, ePRO, AERS, and SMMS solutions to the HRC. As the HRC expands its signed contracts with large CROs - - who are desperately in need of the qualified subjects offered by the HRC - - MedChannels will experience a major, corresponding expansion of business-related sales." |
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"The agreement with the HRC", continued Mr. James, "is expected to generate $8 million USD in sales over a 10-year period for MedChannels, making it the largest technology and services acquisition in MedChannels brief history and substantially validating the strategic sales and marketing initiatives that the leadership team has put into place. As the HRC expands its own geographic footprint, we will expect to become one of the industry leaders in offering high-quality, high-throughput, clinical trial fulfillment solutions." |
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MedChannels is a leading provider of life science development and commercialization services and has regional distribution hubs in Columbus, Ohio and San Antonio, Texas with headquarters in Las Vegas, NV. Its principal activities are to provide integrated product development and commercial enrichment solutions to the pharmaceutical, biotechnology and medical device industries. The Group operates in three business segments, namely Product Development, Commercialization Services and the Informatics group. The Product Development group is primarily responsible for all phases of pre-clinical and clinical research. The Commercialization Services group is primarily responsible for sales force deployment and strategic marketing services including healthcare policy research and consulting services. The Informatics group is primarily responsible for providing market research solutions and strategic analyses to support healthcare decisions. |
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* * * * * * * * * * * * * Statements in this release concerning expectations for the future are forward-looking statements. A variety of known and unknown risks, uncertainties and other factors could cause actual results, performance and expectations to differ materially from anticipated results, performance or expectations. These risks, uncertainties and other factors are discussed in the company's annual report and other documents filed from time to time with the appropriate regulatory agency. http://tbutton.prnewswire.com/prn/b1690X77317545 SOURCE: MedChannels, Inc. Web site: http: //www.medchannels.com CONTACT: John Davidson, Investor Relations of MedChannels, Inc., +1-614-730-1345 * * * * * * * * * * * * * |
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