BOSTON, MA, 19 October 2000 -- PAREXEL International Corporation (Nasdaq: PRXL) today announced that its Advanced Technology and Informatics Unit has been established as a wholly-owned subsidiary, called Perceptive Informatics, Inc. Perceptive Informatics provides a variety of web-based portal solutions designed to accelerate and enhance the clinical development and product launch processes, as well as a range of voice and data systems. It also offers an industry-leading medical imaging service supporting the use of advanced imaging techniques in clinical development. The company has a growing operations and development staff of over 125 employees in four locations in North America and Europe.
"We are extremely pleased with the initial success of Perceptive Informatics' cutting edge web-based products and services and are very committed to this business. By establishing it as a separate entity, we have created a focused environment for its growth and development," stated Josef H. von Rickenbach, Chairman and CEO of PAREXEL International.
Mark A. Goldberg, M.D., President of Perceptive Informatics, added "Our domain-specific knowledge, coupled with our IT capability, gives us a unique advantage in the marketplace. Allowing Perceptive Informatics to operate as a separate entity creates the right culture for us to capitalize on this advantage and build momentum in the marketplace. Our new independence conveys the system and vendor neutrality that underlies our approach for internal product development and the selection of external technology partners."
Perceptive Informatics currently offers a broad array of technology-based products and services including:
ParXnetT - A comprehensive web portal that brings enterprise-wide information to the desktop. The system affords access to data spanning the entire product life cycle and the full product portfolio of a pharmaceutical, biotechnology, or medical device company. ParXnetT allows our clients to create customized enterprise information portals that put the information and decision-making tools they need at their desktop, enabling more effective project management and communication, accelerated decision making, earlier identification of issues and opportunities, and enhanced portfolio management.
ParXtrialT - A trial-specific Intranet/Extranet that provides key trial management information, a comprehensive document repository, and creates a virtual community to facilitate communications between the sponsor, investigators, CROs, and other study participants.
ParXwareT - A web portal that adds clinical data warehousing and mining capabilities to the base functionality of ParXtrialT.
ParXlaunchT - An Intranet/Extranet-based knowledge management tool that facilitates the coordination of worldwide product launches and product life cycle management within or across organizations.
ParXtelT - An interactive voice response system (IVRS), using proprietary object-oriented technology that significantly accelerates system design, implementation, and validation. ParXtelT supports patient enrollment, patient randomization, study drug management, and collection of diary information. In addition to having a voice/telephone interface, the system may also be accessed over the web.
PAREXEL Medical Imaging Services - A range of services supporting the use of medical imaging in clinical trials, including study design, centralized review, quality assurance, and image analysis, as well as tools for digital image acquisition, warehousing, and submission to the FDA.
PAREXEL is one of the largest contract pharmaceutical outsourcing organizations in the world, providing a broad range of knowledge-based contract research, medical marketing and consulting services to the worldwide pharmaceutical, biotechnology and medical device industries. With a commitment to providing solutions that accelerate time-to-market and peak market penetration, PAREXEL has developed significant expertise in clinical trials management, data management, biostatistical analysis, medical marketing, clinical pharmacology, regulatory and medical consulting, industry training and publishing and other drug development consulting services. The Company's integrated services, therapeutic area depth and sophisticated information technology, along with its experience in global drug development and product launch services, represent key competitive strengths. Headquartered near Boston, MA, PAREXEL operates in 43 locations throughout 29 countries around the world, and has approximately 4,200 employees.
This release may contain "forward-looking" statements regarding future results and events, including statements regarding expected financial results, future growth and customer demand that involve a number of risks and uncertainties. For this purpose, any statements contained herein that are not statements of historical fact may be deemed forward-looking statements. Without limiting the foregoing, the words "believes", "anticipates", "plans", "expects", "intends", and similar expressions are intended to identify forward-looking statements. The Company's actual future results may differ significantly from the results discussed in the forward-looking statements contained in this release. Important factors that might cause such a difference include, but are not limited to, risks associated with: the cancellation, revision, or delay of contracts, including those contracts in backlog; the Company's dependence on certain industries and clients; the Company's ability to manage growth and its ability to attract and retain employees; the Company's ability to complete additional acquisitions and to integrate newly acquired businesses or enter into new lines of business; government regulation of certain industries and clients; competition and consolidation within the pharmaceutical industry; the potential for significant liability to clients and third parties; the potential adverse impact of health care reform; and the effects of exchange rate fluctuations. These factors and others are discussed more fully in the section entitled "Risk Factors" of the Company's Annual Report on Form 10-K for the period ended June 30, 2000.
