W. CONSHOHOCKEN,
Penna. - August 8, 2005 - Ventiv Health, Inc. (Nasdaq: VTIV) today
announced that it has successfully completed the acquisition of
privately-held Pharmaceutical Resource Solutions LLC (PRS), a leading
provider of compliance management and marketing support services based in
Horsham, Pennsylvania. Acquisition highlights include:
- Strengthened Service
Offerings: PRS' expertise in sample management and marketing support
further strengthens Ventiv's offerings in these areas
- Solidified Leadership Position: Ventiv strengthens its market position
among smaller sized companies, a niche space for PRS, thereby further
expanding its offerings from large and mid-sized companies
The transaction is valued at $13 million and will be modestly accretive to
2005 earnings.
Eran Broshy, Ventiv's CEO, stated, "This acquisition is consistent with
our overall business strategy to identify and evaluate companies that will
further enhance our pharmaceutical services offerings. The addition of PRS
not only allows us to expand our existing sample management and marketing
support service offerings, but also enhances our platform for reaching
smaller sized companies, a key audience for outsourced services."
PRS will be integrated into the Ventiv organization and two of its
Principals, Robert Melillo and Joseph Melillo will join the Ventiv
Commercial Services Group in business development and operations roles,
respectively.
"PRS is a niche player in the sample management and marketing support
arena," said Terrell Herring, President and COO of VCS. "We look forward
to working closely with Bob and Joe to expand the services we currently
offer through our Franklin Group and PROMOTECH divisions."
Robert Melillo, Principal, Pharmaceutical Resource Solutions, commented, "Ventiv
is an ideal partner for PRS. This combination provides the scale we need
to pursue larger sample management and marketing support service
agreements as well as access to an extensive list of new service offerings
that we can market to our clients. We are looking forward to joining the
Ventiv team."
About Pharmaceutical Resource Solutions LLC
Pharmaceutical Resource Solutions LLC is a compliance management and
marketing support services company dedicated to the pharmaceutical and
healthcare industry. The company is a trusted partner of over 20
pharmaceutical companies who rely on its expertise in the design and
implementation of sales and marketing initiatives. PRS’ website is
www.prsone.com
About Ventiv Health, Inc.
Ventiv Health, Inc. is the leading provider of late-stage clinical, sales,
marketing and compliance solutions to pharmaceutical and biotech
companies. Ventiv is a multi-disciplinary company with a singular focus on
providing excellence in customized solutions across the full spectrum of
services combining both integrated and independent programs. Ventiv's
approximately 4,000 employees support over 75 client organizations,
including the world's Top 20 pharmaceuticals companies as well as emerging
and specialty biotech leaders. Ventiv’s website is www.ventiv.com
Forward-Looking Statements
This press release contains forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995. Such
forward-looking statements involve known and unknown risks that may cause
Ventiv Health's performance to differ materially. Such risks include,
without limitation: changes in trends in the pharmaceutical industry or in
pharmaceutical outsourcing; our ability to compete successfully with other
services in the market; our ability to maintain large client contracts or
to enter into new contracts; uncertainties related to future incentive
payments; and, our ability to operate successfully in new lines of
business. Readers of this press release are referred to documents filed
from time to time by Ventiv Health Inc. with the Securities and Exchange
Commission for further discussion of these and other factors.