OmniComm Systems, the US-based electronic data capture (EDC) specialist that recently bought the EDC business of eResearch Technology (ERT), has retained Emerging Growth Equities (EGE) as its financial advisor “to assist in evaluating strategic alternatives with a focus on acquisitions that may be available to the Company”.
EGE advised OmniComm on the ERT deal and has worked with the company on capital transactions in the past. “We feel strongly that the time is right to engage EGE to assist the Company in enhancing shareholder value and advancing the Company’s overall growth strategy,” said Cornelis Wit, president and chief executive officer of OmniComm.
In particular, he noted, OmniComm wants to attract a broader range of clients by expanding its palette integrated eClinical solutions.
“Given the recent move towards consolidation in our industry and our investment in infrastructure over the past few years, we believe that there may be value to our customers and our shareholders in exploring transactions that will allow us to grow our product line as well as the depth and breadth of our customer pipeline,” Wit commented.
Explaining the rationale for acquiring eResearch Technology’s EDC business last month, Wit suggested that, in the current eClinical environment, “only those firms that can combine superior products and services along with a demonstrated ability to deliver a broad array of solutions will be able to effectively compete”.
