Since its commencement in 1990, Bio-Imaging Technologies Inc. (BITI.OB), the worlds largest healthcare contract service, has processed over a million images and aims for more.
BITI provides medical image management for clinical trials to assist its global clientele in the development of medical-imaging components.
The company recently announced the acquisition of Theralys SA, a leading provider of customized imaging services regarding the central nervous system disorders (CNS), Neurovascular diseases.
Theralys’ imaging software plays an important role in image processing used in the design of clinical trial for diseases such as stroke, multiple sclerosis and Alzheimer’s disease; the agreement will enable BITI to expand its global services in the CNS and Neurovascular sectors.
“It is estimated that there are currently more than 10 million patients globally with Alzheimer’s Disease. With the aging of the baby boomer population, it is expected that the prevalence of this disease will expand. It follows that clinical trials for AD therapeutics will also increase, and Bio-Imaging will be poised to offer our solutions to our clients,” said Bio-Imaging’s Medical Director, Andrea Perrone in a press release.
The acquisition includes the addition of Chahin Pachai, Ph.D, Theralys’ executive director, as well as a team of scientists who will assist in the expansion and strength of the company as well as scientific growth.
“We evaluated several alternatives to expand our therapeutic expertise and image analysis services in the CNS and Neurovascular area and soon realized that Theralys, led by Chahin Pachai, Ph.D., was the best strategic option. We believe that this transaction makes sense on a great many levels, including: adding scientific expertise and management talent, strengthening our global presence and enabling us to emerge as a leader in the CNS and Neurovascular field,” Mark Weinstein, president and CEO of Bio-Imaging in a press release.
BITI has earned bragging rights with experience with a wide range of medical imaging modalities such as X-ray, Ultrasound, MRI, ECG and PET scan’s. The company has established relationships with over 100 pharmaceutical, biotechnology and medical device companies worldwide and has works hard to ensure it meets and exceeds FDA requirements.
BITI Wednesday morning shares were trading at $8.11.