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| BioClinica CEO Mark Weinstein |
BioClinica told investors that it won't be issuing annual guidance for 2013. That's because the provider of clinical trials software and core lab imaging is being bought in a $123 million private equity deal. JLL Partners is buying up the Newtown, PA-based company ($BIOC) for $7.25 per share.
So here's the last set of annual results for BioClinica before the company goes private.
The company's total 2012 revenue jumped to $98.3 million from just shy of $84 million in 2011, according to its financial statement. It upped net income by 12.8% to $6 million, or 36 cents per share. For the fourth quarter, revenue grew to $27.6 million from $22.4 million in the same quarter of 2011.
Mark Weinstein, BioClinica's CEO, who is expected to stay in his position after the JLL deal is done, pledged to keep investing in the company's technology.
"We value each of our clients, and strive to deliver the best-in-class services to each of them," the CEO said in a statement. "Accordingly, as we have previously discussed, in order to remain competitive and offer a best-in-class solution, we continue to invest in our business and our software platform."
- here's the release
- see the item from phillyburbs