ERT (company)

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ERT
TypePrivate
IndustryHealthcare
Clinical Research
Pharmaceutical Service
Medical Technology
Founded1972 (1972)
Headquarters
Philadelphia
,
U.S.
Key people
Joseph F. Eazor (President and CEO)[1]
Revenue$350 million to $400 million (USD) per year
OwnerPrivately Owned
Number of employees
1001 to 5000 employees (2017)

ERT (eResearchTechnology, Inc.) is a global company specializing in clinical services and customizable medical devices to biopharmaceutical and healthcare organizations. It is offers centralized cardiac safety and respiratory efficacy services in drug development and also collects, analyzes and distributes electronic patient-reported outcomes (ePRO) in multiple modalities across all phases of clinical research.

History[]

ERT, formerly known as Cardio Data Systems, was founded in 1972 and analyzed ambulatory Holter electrocardiograms and conducted its first research study in 1975.[vague] By the end of that year the company expanded into the largest U.S. Holter monitoring research provider of evaluating cardiovascular drugs for approval by the U.S. Food and Drug Administration (FDA). In 1979, the company analyzed 4,500 Holter readings for the National Institutes of Health’s Beta Blocker Heart Attack Trial. The study resulted in the recommendation to use the drug propranolol for at least three years in patients who have had a recent heart attack and who need to have their heart rate slowed down.

In 1987 Cardio Data Systems, Ltd. expanded to the United Kingdom to extend its business services internationally. They based their operations in Peterborough, Cambridgeshire.

In 1990, now known as CDSResearch, they initiated a computer analysis for cardiologists to measure changes on a 12-Lead ECG electrocardiogram.[citation needed] The name was changed again in 1993 to CDSResearchWorldwide and moved its headquarters to Philadelphia, Pennsylvania, where they opened a 45-bed Clinical Research Unit located in center city Philadelphia, which was created for conducting inpatient and outpatient pharmacokinetic, pharmacodynamic and other Phase 1 Studies.

In 1997 with the acquisition of DLB systems, Ltd. and a name change to Premier Research Worldwide, the company became publicly held on the NASDAQ National Market System under the symbol PRWW. Two years later, in 1999, PRWW sold its portion of CRO operations and in 2000 eResearch Technology, Inc. (NASDAQ: ERT) was formed.

In 2007 ERT launched a new product line for electronic patient-reported outcomes, ePRO. Finally 2008 and 2009 marked substantial growth for the company and brought two awards. First, CIO 100 Award of 2008 for their accomplishments in ECG analysis software that allows customers the flexibility needed to configure their ECG Clinical Studies. Second, the European Outsourcing Awards of 2009 Best New Product.[2]

In 2008 ERT acquired Biosigna, a Munich-based company, which specialized in biomedical signal processing.

In 2009 ERT ended its foray into the electronic data capture (EDC) business as ERT sold its EDC division for approximately $2.025 million of OmniComm shares.[3]

In 2010 ERT acquired the Research Services Division of the CareFusion Corporation. This nearly doubled the company in size and brought a new service line and enhancements to its two current service offerings; Respiratory Services, specializing in centralized spirometry, Multi-Mode ePRO for patient reported outcomes, and enhanced Cardiac Safety Solutions. Along with the acquisition, ERT now has the capability to design and construct their own clinical diagnostic devices from a manufacturing facility in Estenfeld, Germany.[4]

In 2010, the then current CEO of ERT was replaced on an interim basis by Joel Morganroth, M.D.[5][6][7]

In 2011 Jeffrey S. Litwin, M.D. was appointed ERT's new president and chief executive officer. Litwin joined ERT in 2000 as senior vice president and chief medical officer and was subsequently promoted in December 2005 to executive vice president and chief medical officer. Dr. Litwin oversaw ERT's global cardiac safety operations for seven years.

In May 2012, Biosigna was liquidized[clarification needed] and the office in Munich was closed.

On July 3, 2012, ERT announced that Genstar Capital LLC of San Francisco acquired ERT in a take-private transaction valued at approximately $400 million.

On July 9, 2012, ERT acquired and merged with invivodata, a provider[citation needed] of ePRO (electronic patient-reported outcomes) services and consulting.

In November 2014 ERT acquired eClinical Insights (eCI), a provider of cloud-based clinical trials management software.[8]

On February 27, 2015 ERT acquired PHT Corporation (PHT).[9]

In March 2016 ERT was acquired by Nordic Capital, a private healthcare investment firm for about $1.8 Billion.[10]

In December 2016 ERT acquired Exco InTouch, a provider of patient engagement, data capture and digital health solutions.

In May 2017 ERT acquired ImageIQ, clinical trial biomedical imaging and analysis company.[11]

In September 2017 ERT acquired Biomedical Systems (BMS), a provider of imaging as well as cardiac safety and respiratory data collection solutions.[12]

In December 2017 ERT acquired , a global provider of centralized cardiac safety, respiratory, and electronic clinical outcome assessment (eCOA) solutions that accelerate clinical research. [13]

In December 2020, ERT announced a merger with Bioclinica, a global clinial trial end-point solutions company. Joe Eazor will be the head of the new business.

Locations[]

References[]

  1. ^ "ERT Announces Appointment of Jim Corrigan as New President and CEO". 10 September 2014.
  2. ^ "Archived copy". Archived from the original on 2010-05-02. Retrieved 2009-11-11.CS1 maint: archived copy as title (link)
  3. ^ http://philadelphia.bizjournals.com/philadelphia/stories/2009/06/22/daily19.html
  4. ^ "You searched for 43".
  5. ^ "ERT | ERT Announces the Appointment of Joel Morganroth, MD as Interim CEO". 21 December 2010.
  6. ^ "Ringling College receives record-breaking $15 million gift | Arts and Entertainment". 29 January 2018.
  7. ^ "Ringling College Receives Landmark Gift, Endowment for VR Department Head - SRQ Daily Jan 30, 2018".
  8. ^ "ERT Announces Acquisition of eClinical Insights". 6 November 2014.
  9. ^ "ERT Completes Acquisition of PHT Corporation". 11 May 2015.
  10. ^ "Nordic Capital Fund VIII and Novo A/S announce the closing of the acquisition of ERT | Nordic Capital".
  11. ^ "ERT Acquires Imaging Solution from Cleveland Clinic". 9 May 2017.
  12. ^ "ERT Acquires Biomedical Systems". 8 September 2017.
  13. ^ "ERT Acquires iCardiac Technologies". 4 December 2017.

External links[]

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