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Bioclinica Acquires Clinverse

Leading Provider Expands into Financial Management Solutions for Clinical Trials

January 19, 2016

Bioclinica®, Inc., a specialty clinical trials services and technology provider, announced today that it has acquired Clinverse, Inc. The acquisition expands Bioclinica's offerings into the growing market of automated financial management technology solutions for global clinical trials. Clinverse is the latest investment that Bioclinica has completed to build the company into a leading provider of solutions that bring quality and efficiency to every phase of clinical trial development.

Clinverse is now a Bioclinica CompanyHeadquartered in Durham, North Carolina, Clinverse automates and manages the entire financial lifecycle of global clinical trials for contract research organizations (CROs) and pharmaceutical companies. Its suite of products pays clinical trial sites, vendors and their subjects; budgets and forecasts trial expenditures and converts tax and exchange rates in more than 200 countries and 140 currencies globally. Clinverse's products also can be integrated with other eClinical platforms. The company's services have saved CROs and pharmaceutical corporations as much as 50 percent of their operational costs.

"We are delighted to add Clinverse's capabilities to Bioclinica's portfolio of solutions," said Dr. John Hubbard, President and Chief Executive Officer, Bioclinica.

"Managing clinical investigator payments has been a significant challenge for our industry. For years, sponsors have manually tracked and paid clinical trial sites. Clinverse developed one of the first automated solutions to alleviate companies of this burden. The company is making a significant impact in reducing costly errors, improving satisfaction and increasing operational efficiencies to mitigate this major pain point in drug development."

- Dr. John Hubbard, President and Chief Executive Officer, Bioclinica

Clinverse will become part of Bioclinica's eHealth Solutions business segment, which offers technology solutions to support pharmaceutical companies and CROs in the efficient management and conduct of clinical trials, as well as Safety and Regulatory Solutions. In addition to eHealth technologies, Bioclinica offers a comprehensive portfolio of services encompassing medical imaging and biomarkers, patient recruitment and retention services, a research site network and a post approval research division. The company has invested in strategic initiatives and acquisitions to expand its capabilities and services since merging with CCBR-SYNARC in 2014 to become a leading clinical trial services provider.

"We are excited to join Bioclinica," said Jay Trepanier, Chief Executive Officer, Clinverse. "This partnership will accelerate our goal of becoming the best-in-class solution for financial services in the clinical trial industry. Our relationship will allow us to strengthen our operational capabilities out of the gates, while we continue to aggressively invest in enhancing our technology and services. Our customers will benefit from becoming part of an innovative leader in the industry that offers extensive resources and services. We also look forward to bringing our specialized expertise to Bioclinica's clients."

Trepanier will continue to lead Clinverse and report to Mukhtar Ahmed, President of Bioclinica's eHealth Solutions Segment.

About Clinverse, Inc.
Clinverse, Inc. architected the industry's first automated financial management technology solution for clinical trials. Powered by our secure technology platform, our solution standardizes clinical trial financial management for millions of financial transactions across the globe, including clinical site payments. Used by leading BioPharma companies, our solutions remove antiquated manual process so our clients benefit from reduced workload, time and costs gained through automation and unprecedented transparency and workflow. For more information, please visit www.clinverse.com.

About Bioclinica
Bioclinica is a global life sciences solution provider that utilizes science and technology to bring clarity to clinical trials – helping companies to develop new life-improving therapies more efficiently and safely. Successful clinical trials require the ability to see key details and uncover hidden insights, and Bioclinica’s hundreds of experienced scientific, medical, and domain experts bring unmatched insight across the development lifecycle, from the initial protocol to post-approval.  The company’s cloud-based offerings include medical imaging, cardiac safety, randomization and trial supply management and optimization, electronic and eSource data capture, site payments and forecasting, pharmacovigilance, trial management, and risk-based monitoring solutions. A true multifaceted partner to trial sponsors and Contract Research Organizations (CROs), Bioclinica offers an integrated App xChange partner ecosystem, a global network of research sites, patient recruitment services, and post-approval research expertise to provide committed, detail-focused service through all stages of drug development.  The company’s thousands of employees serve more than 400 pharmaceutical, biotechnology and device organizations – including all of the top 20 biopharmaceutical companies and leading CROs – through a network of offices in the U.S., Europe, and Asia. Learn more about Bioclinica at www.Bioclinica.com and on Bioclinica LinkedIn and Twitter.

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Bioclinica is organized into three business segments so that we can provide expert service and multifaceted technologies. Our Medical Imaging & Biomarkers segment includes an Imaging Core Lab, a Cardiovascular Safety division, and a Molecular Marker Laboratory. Our eHealth segment comprises eClinical Solutions, Randomization & Trial Supply Management, Safety & Regulatory Solutions, and Financial Lifecycle Solutions. Under the Global Clinical Research segment, we offer a network of research sites, patient recruitment, and a Post-Approval Research division.

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