eResearchTechnology files initial public offering

April 19, 2000

eResearchTechnology (eRT) has filed for an initial public offering as part of an overall effort to reposition its parent company, Premier Research Worldwide (PRWW), as a provider of Internet clinical

eResearchTechnology (eRT) has filed for an initial public offering as part of an overall effort to reposition its parent company, Premier Research Worldwide (PRWW), as a provider of Internet clinical trials software. Philadelphia-based eRT provides diagnostic services and research capabilities over the Internet to accelerate clinical research trials. Its products are combined into electronic research networks, which connect sponsors, clinical research organizations, physicians, and patients via proprietary database technology and software.

In addition to filing the eRT IPO last month, PRWW recently sold off its clinical research organization, launched eRT, acquired 10% of a Web-hosting company called Medical Advisory Systems, and announced a five-year contract between eRT and MAS whereby MAS will provide application hosting for eRTs products. PRWW will funnel its business offerings through the eRT subsidiary, and essentially act as a holding company. MAS, which is also the ASP for americasdoctor.com on AOL, will use part of the PRWW investment to upgrade its equipment to host eRTs applications and will allow eRT to access MASs 24/7 physician call center as support for several eRT programs, including eSafetyNet and eECG.