PHILADELPHIA, July 3, 2012 /PRNewswire/ -- ERT (Nasdaq:
ERT), a global technology-driven provider of health outcomes
services to biopharmaceutical sponsors and contract research
organizations (CROs), announced today that Genstar Capital, LLC,
has completed its acquisition of the company in a take-private
transaction valued at approximately $400
million.
Dr. Jeffrey Litwin, who will
continue to lead ERT as CEO, said, "As a private company we will
continue to serve our customers and enhance our suite of products.
We have been able to grow our company into a global leader, and,
with Genstar's partnership, we will look for creative new ways to
grow our business organically and identify new investment
opportunities as part of our continued development."
"ERT is already the global leader in its sector yet we believe
the company can benefit from our expertise in the pharmaceuticals
industry to create positive change that will drive operations at an
increased pace," said Robert
Weltman, Managing Director of Genstar. "This is a
sector we know well, and the added strength of our operating
partners and strategic advisory board will help build ERT into a
stronger independent platform company. We are eager to work with
ERT's management team to position this compelling company for
sustained growth by implementing growth oriented strategic
initiatives, including establishing more strategic relationships
with customers and identifying new expansion opportunities."
For further information on ERT and its technology and services,
please email info@ert.com, call +1 215 972 0420 or visit
www.ert.com
About ERT
ERT (www.ert.com) is a global technology-driven provider of
health outcomes research services supporting biopharmaceutical
sponsors and Contract Research Organizations (CROs) to achieve
their drug development and healthcare objectives. ERT harnesses
leading technology coupled with reliable processes and scientific
expertise to collect, analyse and report on clinical data to
support the determination of health outcomes critical to the
approval, labelling and reimbursement of pharmaceutical products.
ERT is the acknowledged industry leader in centralized cardiac
safety, respiratory efficacy services, electronic Patient Reported
Outcomes (ePRO) and Clinical Outcomes Assessment solutions.
About Genstar Capital, LLC
Genstar Capital (www.gencap.com) is a leading private equity
firm that has been actively investing in high quality companies for
more than 20 years. Based in San
Francisco, Genstar works in partnership with its management
teams and its network of operating executives and strategic
advisors to transform its portfolio companies into industry-leading
businesses. Genstar has more than $3
billion of committed capital under management and targets
investments focused on selected sectors within the life science,
healthcare services, software and software services, insurance and
financial services, and industrial technology industries.
Media Contacts
ERT:
Patrick Hughes
Tel: +44 7703 532
749
phughes@ert.com
Genstar:
Chris Tofalli
Chris Tofalli Public Relations
Tel: 914-834-4334
Michelle Valentine
The Scott Partnership
Tel: +44 1477 539 539
ert@scottpr.com
SOURCE ERT
