Growing To Meet The Needs Of Big Pharma: Acquisitions Help BioClinica Increase Profits by 20%

By Ed Miseta, Chief Editor, Clinical Leader

In the late 1990s and early 2000s, Bio-Imaging Technologies had a successful imaging lab business. When the FDA and overseas regulatory authorities began accepting medical images such as x-rays and MRIs as proof of a drug’s effectiveness, company president and CEO Mark Weinstein saw a tremendous growth opportunity. “I always felt we needed to diversify to cover all of the major therapeutic areas,” he says. “I saw what was going on with pharma companies. The only way to get their business is to be on their preferred provider list. We knew the only way to do that was to have a diverse portfolio.”

Recent acquisitions have convinced Weinstein that his company is ready to work with the largest of pharmaceutical companies, be they CRO or drug sponsor. Bio-Imaging, which officially became BioClinica in 2009 following a major merger, is currently running over 400 imaging studies with over 200 clients. Weinstein notes a series of well-planned steps were required to get them to this position.