OmniComm Systems® Announces Record Contract Growth in First Half of 2014
FORT LAUDERDALE, FL--(Marketwired - Aug 18, 2014) - OmniComm Systems, Inc. (OTCQB: OMCM), a leading global provider of data management solutions for clinical trials, today announced it has achieved record contract growth through the first six months of 2014. The company has signed contracts with 3 of the top 5 global contract research organizations (CRO) during this period and 3 of the 10 top global pharmaceutical companies are now utilizing the benefits of OmniComm Systems' technology to help them advance medical research. During this period the company realized a 162% increase in total contract value as compared to the same period in 2013 with over 45% attributed to new clients.
The company attributes the recent growth to its innovative electronic data capture (EDC) and clinical data management (CDM) technology and its ability to seamlessly integrate with existing best-in-class eClinical solutions. To meet the rapidly increasing market demand for its EDC and CDM solutions, OmniComm Systems continues to invest in product development and deployment services to ensure the highest level of customer satisfaction.
"Increasing regulatory pressures and the demand to bring medical therapies to market faster are driving life science organizations to seek more flexible, modern solutions for their clinical research and development needs. Thanks to our historic investments in technology and service delivery, we are extremely well positioned to meet those needs," said Cornelis Wit, CEO OmniComm Systems. "We are only as good as the people that we have working at OmniComm, and we have been fortunate to be able to complement our great existing teams with top talent that strives to continually provide leading innovative technology and excellent client service."
In the past nine months, OmniComm Systems: introduced major product releases for TrialMaster® and TrialOne®; completed the acquisition of Promasys®, a web based and mobile enabled EDC technology solution for investigator initiated clinical studies and academic medical centers; and launched OmniCloud®, proprietary cloud technology designed to integrate best-in-class eClinical solutions.
OmniComm Systems also recently introduced its proactive strategy for helping clients rationalize the opportunities and define a roadmap for implementing new technologies and operational improvements through its newly created Transformation Services Division. OmniComm's Transformation Services provides clients with consulting and delivery services that transform their clinical operations and implement cloud technology, mobile computing and big data solutions.
About OmniComm Systems
OmniComm Systems is a leading strategic software solutions provider to the life sciences industry. OmniComm Systems is dedicated to helping the world's pharmaceutical; biotechnology; contract research organizations; diagnostic and device firms; and academic medical centers maximize the value of their clinical research investments. Through the use of innovative and progressive technologies these organizations drive efficiency in clinical development, better manage their risks, ensure regulatory compliance and manage their clinical operations performance. OmniComm provides comprehensive solutions for clinical research with an extensive global experience from over 4,000 clinical trials. For more information, visit www.omnicomm.com.
Safe Harbor Disclaimer
Statements made by OmniComm Systems included in this release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements involve a number of risks and uncertainties such as the Company's ability to obtain new contracts and accurately estimate net revenues due to uncertain regulatory guidance, variability in size, scope and duration of projects, and internal issues at the sponsoring client, integration of acquisitions, competitive factors, technological development, and market demand. As a result, actual results may differ materially from any financial outlooks stated herein. Further information on potential factors that could affect the Company's financial results can be found in the Company's Reports on Form 10-K and 10-Q filed with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise.
OmniComm, TrialMaster, TrialOne, and Promasys are registered trademarks of OmniComm Systems, Inc. Other names may be trademarks of their respective owners.