OmniComm Systems Buys eResearchTechnology Unit

(Comment on this article at http://www.financialwire.net/2009/06/24/omnicomm-systems-buys-eresearchtechnology-unit/)

June 24, 2009 (FinancialWire) -- OmniComm Systems, Inc. (OTCBB: OMCM) has acquired the electronic data capture unit of eResearchTechnology, Inc. (NASDAQ: ERES).

Under the terms of the transaction, OmniComm issued 8.1 million shares of common stock and assumed certain liabilities including deferred revenue relating to ERT's EDC business in exchange for the EDC assets of ERT, which primarily include its EDC software, applications and fixed assets and $1.15 million in cash paid by ERT.

OmniComm said it will be opening a new branch office in the New Jersey area and will be transitioning the majority of the ERT eClinical support team to this new office to provide on-going support and maintenance to the ERT customers it acquires.

According to eResearchTechnology, the unit produced revenues of $5.9 million in the year ended December 31, 2008 and $1.4 million in the three months ended March 31, 2009.

Ft. Lauderdale, Florida-based OmniComm Systems provides internet solutions to pharmaceutical, biotechnology, research and medical device organizations that conduct clinical trial research. The company has offices in Bonn, Chicago, Germany, Tula, Russia, California, New York, New Jersey, North Carolina, Tennessee, Massachusetts and Georgia.

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