AmericasDoctor.com Is Pharma Industry's First Integrated Pharmaceutical Service Organization
GURNEE, Ill., April 18 /PRNewswire/ – AmericasDoctor.com, Inc. today announced that on March 28 it closed on a $33.5 million round of equity financing with the issuance of preferred stock.
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Six groups are involved in the equity financing, including Charter Growth Capital, CIT Venture Capital, Claneil Enterprises, Delphi Venture Partners, Galen Associates and Tullis-Dickerson. Proceeds of the funding will be used for working capital, the expansion of existing programs and potential acquisitions.
AmericasDoctor.com recently merged with Affiliated Research Centers, which maintains a national network of clinical research sites, creating a new generation of pharmaceutical services company. The result is a "clicks & mortar" company that combines a well-established, pharmaceutical services company with a leading interactive consumer health portal.
The pharmaceutical industry invests over $17 billion annually in the United States to clinically develop and commercialize its products. These expenditures are growing at 11-12% per year. As one aspect of its service, AmericasDoctor.com will use its Internet presence to facilitate the recruitment, screening and enrollment of clinical trial participants, providing time efficiencies and quality benefits in the process.
According to president and chief executive officer, Steve Rauscher, "AmericasDoctor.com provides a range of solutions to fill unmet needs of the industry. These include systems and information to more effectively educate and communicate with consumers, accelerate completion of clinical trials, speed commercialization of new products and improve persistence and compliance with drug therapies."
These capabilities position AmericasDoctor.com as the Industry's First Integrated Pharmaceutical Service Organization (iPSO). "As such, we plan to become a leading partner to the pharmaceutical industry in educating consumers and developing pharmaceutical products, combining both off-line and on-line capabilities," Rauscher said.
Frank Ziegler, president of Claneil Enterprises and new member of the board of directors of AmericasDoctor.com, added, "Our investment in AmericasDoctor.com confirms our belief that a great need exists in the pharmaceutical industry to educate consumers, bring new products to the marketplace faster and commercialize those new products more quickly. We believe that AmericasDoctor.com can help the pharmaceutical industry meet these needs. We and our partners are very pleased to have invested in the company at this stage."
Steve Rauscher noted, "This investment shows the confidence that the investment community has in AmericasDoctor.com and in the company's unique service offering to the pharmaceutical industry."
AmericasDoctor.com is located in Gurnee, Illinois. For more information, visit the company's award-winning website at www.americasdoctor.com .
SOURCE AmericasDoctor.com, Inc.-0- 04/18/2000
CONTACT: Jodi Brichan of Hamilton Group, 312-642-1825, ext. 451, or firstname.lastname@example.org, for AmericasDoctor.com, Inc.
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Web site: http://www.americasdoctor.com