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8-K - FORM 8-K - ERESEARCHTECHNOLOGY INC /DE/ | c16358e8vk.htm |
EX-99.1 - EXHIBIT 99.1 - ERESEARCHTECHNOLOGY INC /DE/ | c16358exv99w1.htm |
Exhibit 99.2
News Release |
Media Contacts: |
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Keith Schneck
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Robert East | |
eResearchTechnology, Inc.
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Westwicke Partners, LLC | |
215-282-5566 |
443-213-0502 |
ERT Announces Appointment of New President and CEO
PHILADELPHIA, May 2, 2011 /PRNewswire-First Call/ eResearchTechnology, Inc. (ERT), (Nasdaq:
ERT News) a global technology-driven provider of services and customizable medical devices to
bio-pharmaceutical and healthcare organizations and the market leader for centralized cardiac
safety and respiratory efficacy services in drug development, announced today that its Board of
Directors has appointed Jeffrey S. Litwin, M.D. its new President and Chief Executive Officer and
as a member of the board.
Dr. Joel Morganroth, who had served as interim President and Chief Executive Officer, commented
that after a thorough national search by Heidrick and Struggles, our Board selected Dr. Litwin, an
internal candidate, as the most qualified person to lead ERT. Jeff brings to ERT knowledge of the
Clinical Research domain, that is our core business, and also experience in the adjacent markets of
Phase IV safety surveillance and healthcare in which ERTs assets will be employed. All of our
employees look forward to continuing to work with Jeff to enhance ERTs operational successes and
strategy.
Dr. Litwin joined ERT in 2000 as Senior Vice President and Chief Medical Officer and was
subsequently promoted in December 2005 to Executive Vice President and Chief Medical Officer. Dr.
Litwin oversaw ERTs global cardiac safety operations for seven years and was instrumental in
implementing EXPERT, ERTs digital operating system. During this time period, ERT experienced
tremendous growth with revenues increasing more than three-fold. For the last four years, he has
been responsible for leading ERTs consulting business, assisting over 150 companies with the
design and evaluation of cardiac safety testing programs. Throughout his career at ERT, Dr. Litwin
has also been directly involved in supporting ERTs sales efforts.
In addition to his responsibilities at ERT, Dr. Litwin serves on the DIA Annual Meeting planning
committee, the Applied Clinical Trials Editorial Board, and the Board of Directors of the Metrics
Champion Consortium. Dr. Litwin is a board-certified cardiologist and left his cardiology practice
to serve as Director, Medical Affairs, Wyeth-Ayerst Laboratories from 1988 to 1990 where he had
responsibility for medical services, Phase IV research, and pharmacovigilance for all marketed
cardiac safety products. From 1990 to 1993, Dr. Litwin served as Deputy Medical Director of
Nutri/System Inc., and from 1993 until joining ERT, Dr. Litwin served as Executive Vice President
and Chief Operating Officer of Executive Health Group, the nations leading provider of executive
physical examinations. In that role, he built a worldwide network of over 1000 physician offices
to provide pre-employment physicals and high quality physical examinations to corporate executives.
www.ert.com
eResearchTechnology, Inc.
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1818 Market Street, Suite 1000 Philadelphia, PA 19103-3638 Main: +1 215.972.0420 Fax: +1 215.972.0414 |
1150 U.S. Highway 22 East Bridgewater, NJ 08807-2912 Main:+1 908.704.8010 Fax:+1 908.704.8218 |
eResearchTechnology Limited Pegasus House, Bakewell Road Orton Southgate, Peterborough PE2 6YS UK Main: +44 1733 374800 Fax: +44 1733 238782 |
Dr. Litwin commented, It has been a great pleasure working with the employees, management team and
Board at ERT for the past 11 years. This experience should allow for a seamless transition from
Dr. Morganroths service as our interim President and Chief Executive Officer. The acquisition of
Research Services has transformed ERT by expanding the services and products we offer, and I look
forward to leading the company in the implementation of our strategic plan both within the clinical
research market as well as adjacent markets. I also thank Dr. Morganroth for his dedicated service
as our interim President and Chief Executive Officer over these past few months.
The Board also elected Elam M. Hitchner, III to succeed Dr. Morganroth as Chairman. Mr. Hitchner
has served since April 2010 as the lead independent director of the Board. Echoing Dr. Litwins
comments, Mr. Hitchner stated, We thank Dr. Morganroth not only for his service as our interim
President and Chief Executive Officer but also for having served as our Chairman since 1999. Our
Board believed that, with the appointment of Dr. Litwin as our President and Chief Executive
Officer, this was an opportunity to enhance our corporate governance by appointing a non-executive
Chairman.
Dr. Morganroth commented, I am excited to be able to focus on my duties as Chief Scientific
Officer as we continue to implement our strategic plan of growing our core business while expanding
beyond that business into other areas. I will continue to have input in the overall direction of
our business in my role as a member of the Board, and I look forward to the continued growth of
ERT.
About eResearchTechnology, Inc.
ERT (www.ert.com) is a global technology-driven provider of clinical services and customizable
medical devices to biopharmaceutical and healthcare organizations. It is the market leader for
centralized cardiac safety and respiratory efficacy services in drug development and also collects,
analyzes and distributes electronic patient reported outcomes (ePRO) in multiple modalities across
all phases of clinical research.
Statements included in this release may constitute forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. Such statements involve a number
of risks and uncertainties, which could cause actual results to differ materially from those
expressed or implied from such statements. These risks and uncertainties include, without
limitation, the Companys ability to obtain new contracts, variability in size, scope, and duration
of projects, integration of acquisitions, competitive factors, technological development, market
demand, and other factors described in the Companys filings with the Securities and Exchange
Commission. The Company undertakes no obligation to publicly update any forward-looking statement,
whether as a result of new information, future events, or otherwise.
www.ert.com
1.866.538.2808
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