eResearchTechnology (eRT) Agrees to Acquire the Centralized ECG Business ... ( Covance and eRT Enter into Exclusiv...)

eResearchTechnology (eRT) Agrees to Acquire the Centralized ECG Business of Covance

Date:11/27/2007

Covance and eRT Enter into Exclusive Marketing Agreement to Offer eRT's

Cardiac Safety Services to Covance's Clients for 10 Years

PHILADELPHIA, Nov. 27 /PRNewswire-FirstCall/ -- eResearchTechnology, Inc. (eRT), (Nasdaq: ERES), a leading provider of technology and services to the pharmaceutical, biotechnology and medical device industries, announced today that it has agreed to acquire the centralized ECG business of Covance Inc. In addition, Covance and eRT have entered into an exclusive ten-year marketing agreement to supply eRT's centralized cardiac safety services to Covance's clients. It is expected that the acquisition will close on or before November 28, 2007.

"By acquiring the centralized cardiac services of Covance, eRT is furthering its commitment as a leader in the cardiac safety field. The scale, expertise, and ancillary technology benefits that will be derived from the acquisition will allow us to provide better and more cost-effective services to our valued clients and to the drug development industry," said Dr. Michael McKelvey, President and CEO of eRT. "By engaging in this long-term strategic relationship with the world's largest publicly-traded CRO, eRT is looking to extend its global leadership position in the area of cardiac safety."

"Covance remains fully committed to providing our clients with integrated drug development solutions, including critical cardiac safety data in clinical projects," said Joe Herring, Chairman and CEO of Covance. "Under the new marketing arrangement, we believe our clients will benefit from eRT's industry-leading centralized ECG services. The transaction also allows Covance's management team to focus more attention on growing our service offer
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