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eResearchTechnology, Inc. was founded in 1977. They were originally set up to provide Cardiac Safety services to test the dangers of new drugs. They are currently the principal provider of the solutions that facilitate various research companies within the industry to manage their development of new drugs more efficiently. These companies include participants in the pharmaceutical, biotechnology, and medical device industries. Another goal of eRT is to revolutionize the clinical trials process by aiding the transition to a new electronic processing service.
Its products and services include EXPeRT "eECG", eResearch Network, Electronic Data Capture, eResearch Community, and Consulting.
-- EXPeRT provides digital and paper based Electrocardiograph images.
-- The eResearch Network provides real-time, quality data that accelerates
clinical development, lowers costs, and improves quality. This reduces
the time to make critical decisions while helping ensure effective
-- The data capture division entitled eData Entry, provides a solution for
organizing and inputting the massive amounts of data from the
-- The eResearch Community solution allows the company to analyze data and
generate reports in a broad variety of formats that permits early
strategic involvement in the clinical trial.
-- The consulting services complement eRT's cardiac safety and clinical
data technology that streamlines the collection, interpretation, and
distribution of cardiac safety and clinical data.
Using the combination of these divisions, eResearchTechnology provides the complete solution for companies who do extensive clinical testing.
This company has been expanding at a phenomenal rate. They reported 1Q record earnings in 2004. The first quarter revenues in 2004 were $26.1 million, which is a 92% increase from the year before. In the first quarter of 2003, revenues were at $13.6 million. The recent reported earnings also exhibit a 24% increase for 4Q of 2003.
The CEO of eRT believes that the improvements in their results are reflective of the demand for their technology and services. The recent quarters of super growth in earnings stepped up the pace and lead to record profits for the company. This provides eRT with a promising outlook for the future.
eResearchTechnology has been strategically creating alliances with many of the top pharmaceutical companies to lock in projects for the upcoming years. Some recent partnerships include Inveresk, which is one of the world's largest clinical research firms. eResearchTechnology will perform the digital collection and interpretation of cardiac safety data for the company. They also made an agreement with Pharma Bio-Research Company. Under the contract, Pharma Bio-Research will conduct clinical trials, while eRT will perform digital collection, measurement, interpretation, review, and distribution of cardiac safety data through its EXPeRT data handling technology. These companies will be setting the new standard for data processing in clinical trials. Their step to incorporate eRT will set them at a level that most companies won't be able to compete with. This will force other companies to adopt the innovative technology for their clinical trials just to remain equal.
With little or no competition in the industry, eRT has become the market leader for providing electrocardiography, and the leading provider of the solutions that provide efficiency to clinical trials through electronic processing. This could place them in a strong position to dominate this market for the future.
This company believes they are the only provider of technology-based solutions in the clinical research technology industry. eRT was the first company to utilize technology to address the digital regulatory initiative for these specific services.
Their solutions improve the accuracy, timeliness and effectiveness of trial set-up, data collection and interpretation. Using each branch of eRT, combines different solutions into one all encompassing solution for research companies.
Since the new technology enables companies to evolve into a digital structure for clinical trials, they have created the digital solution to the paper-based issues. The company's tools ensure that clients meet and exceed regulatory compliance and provide a foundation for integration that leads to a quality of life improvement for all of us.
Benefits of using eRT
Each company that uses the products from EResearchTechnology would have many positive impacts from the utilization of these solutions. The innovative technology would not only accelerate the process for drug research, but also improve the quality of the research. The procedures for developing new drugs can take up to ten years, so the added efficiency of eRT could potentially create higher profits for research firms. They would be able to complete more projects in less time with more reliable results.
If this technology becomes the standard for the medical research industry, companies who do not adopt the methods would fall behind the industry standard, and their research would automatically not be as valuable. Companies would want to come to eRT to make sure their research firm was keeping up to date with the newly adopted standards. Once eRT becomes the enabler for the transition to the new research collection methods, they would have put themselves in a market leading position to control this sector of the industry. All of the companies that wanted to achieve this level of success for their research would have to go through eRT.
If the trend doesn't catch on for research companies to shift to digital processing, this company may not achieve the market share dominance it had hoped for which would result in the company not growing at the rate expected.
Competition may increase in the future, which would result in a loss of market share.
EResearchTechnology has a unique position in the bio-medical research industry. They have the tools to create a solution for clinical research that could change the foundations of data collection and interpretation for the industry. Their segments combined together create a miraculous answer for companies who are striving for the leading edge. These procedures improve efficiencies across the board, and there are numerous benefits for all those involved. eRT could potentially enable their companies to possess the advantage to be a cut above the rest.
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