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8-K - FORM 8-K - BIOCLINICA INC | w80906e8vk.htm |
Exhibit 99.1
Company Contact Jim Dorsey BioClinica 267-757-3040 |
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Investor Contact Linda Decker Financial Media Bill Gordon Porter, LeVay & Rose, Inc. 212-564-4700 |
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Trade Media Beth Nestlerode Diccicco Battista Communications 484-342-3600 |
FOR IMMEDIATE RELEASE
BIOCLINICA ANNOUNCES SHARE REPURCHASE PROGRAM
NEWTOWN, PA, December 17, 2010 BioClinica®, Inc., (NASDAQ: BIOC), a global provider
of clinical trial management services, announced that its Board of Directors has authorized a share
repurchase program of up to $2.0 million of the Companys common stock over the next 18 months.
Repurchase under the program may be made through open market purchases or privately negotiated
transactions in accordance with applicable federal securities laws, including Rule 10b-18. The
timing of the repurchases and the exact number of shares of common stock to be purchased will be
determined by the discretion of the Companys management, and will depend upon market conditions
and other factors. The program will be funded using the Companys cash on hand and cash generated
from operations. The program may be extended, suspended or discontinued at any time.
BioClinica currently has 15.2 million shares of common stock outstanding.
About BioClinica, Inc.
BioClinica, Inc. is a leading global provider of integrated, technology-enhanced clinical trial
management services. BioClinica supports pharmaceutical and medical device innovation with imaging
core lab, internet image transport, electronic data capture, interactive voice and web response,
Microsoft Office-Smart clinical trial management, and clinical supply chain forecasting and
optimization solutions. BioClinica services maximize efficiency and manageability throughout all
phases of the clinical trial process. With more than 20 years of experience and over 2,000
successful trials to date, BioClinica has supported the clinical development of many new medicines
from early phase trials through final approval. BioClinica operates state-of-the-art,
regulatory-body-compliant imaging core labs on two continents, and supports worldwide eClinical and
data management services from offices in the United States, Europe and Asia. For more information,
please visit www.bioclinica.com.
Certain matters discussed in this press release are forward-looking statements intended to
qualify for the safe harbors from liability established by the Private Securities Litigation Reform
Act of 1995. In particular, the Companys statements regarding trends in the marketplace and
potential future results are examples of such forward-looking statements. The forward-looking
statements include risks and uncertainties, including, but not limited to, the consummation and the
successful integration of current and proposed acquisitions, the timing of projects due to the
variability in size, scope and duration of projects, estimates and guidance made by management with
respect to the Companys financial results, backlog, critical accounting policies, regulatory
delays, clinical study results which lead to reductions or cancellations of projects, and other
factors, including general economic conditions and regulatory developments, not within the
Companys control. The factors discussed herein and expressed from time to time in the Companys
filings with the Securities and Exchange Commission could cause actual results and developments to
be materially different from those expressed in or implied by such statements. The forward-looking
statements are made only as of the date of this press release and the Company undertakes no
obligation to publicly update such forward-looking statements to reflect subsequent events or
circumstance. You should review the Companys filings, especially risk factors contained in the
Form 10-K and the recent Form 10-Q.
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