UPPER SADDLE RIVER, N.J., Sept. 25 /PRNewswire/ -- PDI (Nasdaq: PDII)
announced today that it has acquired InServe(R) Support Solutions, based in
Novato, CA, in a cash purchase transaction. InServe is the leading nationwide
supplier of supplemental field-staffing programs for the medical devices &
diagnostics industries. The acquisition of InServe accelerates the formation
of PDI's Medical Devices & Diagnostics Division, which will allow PDI to
expand its reach into both medical device and diagnostics companies and the
InServe provides hands-on clinical education and after-sales support to
maximize product utilization and customer satisfaction. InServe employs over
900 field-based employees comprised of nurses, medical technicians and other
clinicians who visit hospitals and alternate-site institutions. InServe's
clients include many of the leading medical device and diagnostics companies,
including Becton Dickinson, Roche Diagnostics and Johnson & Johnson. The
transaction is expected to be neutral to PDI's consolidated earnings in 2001
and 2002. InServe's 2001 net revenue is expected to be between $10 and
The worldwide medical device and diagnostics industry is a $180 billion
market expected to grow to $250 billion by the end of 2004. Lloyd Fishman, a
24-year veteran of the medical device industry, has been named Vice President
and General Manager for PDI's Medical Devices & Diagnostics division. Mr.
Fishman has held senior positions in sales, marketing, and business
development with both small and large companies. Most recently he was with
Johnson & Johnson where he headed worldwide marketing for their vascular
access business unit.
PDI's Medical Devices & Diagnostics Division will provide fully integrated
sales and marketing solutions specifically designed for the medical device &
diagnostics industries. InServe's expertise in after-sales support completes a
total value proposition that PDI believes will help it to design complete
marketing solutions for medical device & diagnostics companies.
According to PDI Vice Chairman and CEO, Charles T. Saldarini, "PDI has
always been on the leading edge of our industry in looking for new ways to
grow. We believe we can leverage our industry leading sales and marketing
capabilities together with InServe's to provide another platform for growth.
The acquisition of InServe demonstrates our commitment to expanding our
business model. We now have the ability to access acute care institutions
which will positively impact all segments of our business".
PDI is an innovative sales and marketing company serving the
pharmaceutical, biotech, and medical devices & diagnostics industries.
Partnering with clients, PDI provides product-specific plans designed to
maximize profitability throughout a product's lifecycle from pre-launch
through maturity. With proven industry experience and over 5,000 sales and
marketing professionals, PDI has the demonstrated ability to deliver results.
The Company is recognized as an industry-leader based on its track record
of innovation and its ability to keep pace in a rapidly changing industry. PDI
leverages its expertise in sales, brand management and product marketing,
marketing research, medical education, medical affairs, and managed markets
and trade relations to create solutions that meet strategic objectives and
provide incremental value for product sales.
For more information, visit the Company's website at
In accordance with the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995, the Company notes that statements in this
release which look forward in time involve risks and uncertainties that may
cause actual results or achievements to materially differ from those indicated
by the forward-looking statements. The Company's plans and objectives are
based on assumptions involving judgments with respect to future economic,
competitive and market conditions and future business decisions, all of which
are difficult or impossible to predict accurately and many of which are beyond
the control of the Company. Therefore, there can be no assurance that the
forward-looking statements will prove to be accurate. The Company's documents
filed with the SEC identify important factors that may cause the actual
results to differ materially from those indicated by the forward-looking
MAKE YOUR OPINION COUNT - Click Here