Troubled US-based company Datatrak International has launched a new drive to emphasise the single, unified technology platform underlying its e-Clinical product suite as a point of differentiation from its competitors.

The initiative comes shortly after Datatrak, whose shares were delisted from Nasdaq in June after the company failed to meet the US stock exchange’s minimum equity requirement, announced that it intends to deregister its common shares and suspend its financial reporting obligations under the US Securities Exchange Act of 1934.

The company is using the binding concept of ‘Datatrak One’ to leverage the “uniqueness” of its technology platform throughout the business. “Unlike its competitors, which require integration between disparate systems, the Datatrak eClinical product is the only system built on a single, unified platform,” it claimed.

The main goal is to provide the most complete and comprehensive set of clinical trial solutions to its customers, with one technology, one solution, one service offering, one team, one knowledge base, one set of unified eClinical modules, one database, one interface, one vendor and one point of access to all trials, Datatrak explained.

Many of the company’s competitors “have taken perilous shortcuts by bundling best-of-breed applications designed to meet the short-term needs of the clinical research industry”, Datatrak commented. “However, those patchwork technologies ultimately fail to deliver as such applications are never fully integrated, and consequently their clients lose valuable time and expend scarce resources inefficiently moving from application to application.”

The Datatrak eClinical platform, on the other hand, incorporates a complete set of functionalities including electronic data capture, clinical trial management, medical coding, support for paper-based or hybrid studies, randomisation, inventory management, core laboratory services, digitised electrocardiograms, image capture, storage and processing, workgroup collaboration and workflow management, the company added.

“Each of these functionalities exists as part of Datatrak eClinical’s singular architecture and allows Datatrak’s clients to focus on their core business of clinical trials instead of addressing the myriad of issues arising out of integrating incongruous technologies and contracting with multiple vendors,” it said.

In the meantime, Datatrak is moving ahead with plans to file a Certificate and Notice of Termination of Registration on Form 15 with the US Securities and Exchange Commission (SEC). The company is eligible to deregister its securities as it has fewer than 300 shareholders of record.

According to interim chief executive officer Laurence Birch, the decision to deregister was made “after careful consideration of the advantages and disadvantages of being a SEC reporting company, including the high costs and demands on management time arising from the many SEC and Sarbanes-Oxley requirements”.

The current economic climate “has not only impacted the capital markets, but the clinical trial industry as well”, Birch pointed out. “As such, we are constantly looking for ways to reduce costs and increase shareholder value as we continue to focus our efforts on growing the core business.”

In future, Datatrak intends to make public its quarterly and annual financial results, as well as any significant corporate developments, by posting the information on its website. The company also expects that its common shares will continue to be quoted on the Pink Sheets Electronic Markets (which covers securities traded over the counter) after deregistration.