Bio-Imaging Technologes Inc. said Thursday it intends toacquire a privately held multimedia medical communicationscompany, TM Marketing, through purchase of its outstandingcommon stock.
"This acquisition will help accelerate the commercialapplication of our medical image-processing technology," saidJames Conklin, chairman, president and chief executive officerof Bio-Imaging (NASDAQ:BITI). The company uses techniquessuch as magnetic resonance imaging, nuclear medicine,computed tomography and fiberoscopy in clinical evaluationand regulatory review of new drugs, diagnostic agents andmedical devices. It also uses image-based data managementexpertise to prepare interactive computerized regulatorysubmissions, and applies expertise in visualizing and analyzingproduct effects to support new indications or marketing claimsfor existing products.
"We now have tools to visualize drug effects in ways that neverwere available before," William Robbins, the company'sbusiness development director, told BioWorld. For instance,drug effects in the brain can be demonstrated in three-dimensional projections for use in marketing forums.
Bio-Imaging's clients include Adria Laboratories, Centocor Inc.,Cytogen Corp. and Warner-Lambert Co.
TM Marketing is "rather unique in its creativity and integrationof marketing programs," Robbins said. This communicationsfirm has served the health care industry more than12 years,creating a national medical education campaign, "What's YourDiagnosis?" TM clients include Bristol-Myers Squibb, Inc.,Burroughs-Wellcome Laboratories, Glaxo, Miles, Inc., andWyeth-Ayerst Laboratories.
"They bring an extensive roster of clients," Robbins said, "andwill broaden their array of services and programs with moreaccess to more technologies. There's a great need to use newmeans to visualize and analyze drug or device effects."
TM is expected to continue operating at its Hackensack, N.J.location some 60 miles from the West Trenton, N.J.headquarters of Bio-Imaging Technologies as the mergedcompanies move the supply and service company from clinical,research applications to commercial medical communicationsactivities.
Completion of the acquisition is based on a period of duediligence, financial review and certain other conditions. Thecompanies anticipate a closing in early 1993.
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