Lansdale, PA – June 23, 2009: CRF Health, the electronic Patient Reported Outcomes (ePRO) solutions company, today announced record results for the last five months. CRF Health’s total revenue grew by 61 percent and service revenue increased by 65 percent compared to the prior year-to-date figures. The growth was driven by a 53 percent increase over prior year of signed commitments and came from both new and existing customers. The impressive growth is even faster than the company expected - service revenue is currently 33 percent above budgeted targets and total additions to backlog are 41 percent ahead of target.
CRF Health’s profits are also on the rise. After achieving record earnings in 2008, the company is building on its profitability in 2009 and has already surpassed both its full year 2008 as well as full year 2009 budgeted income.
This period of growth comes at a time of reinvigoration at CRF Health with a new management team in place. Rachael King, the then COO was promoted to CEO in September 2008. A new Chief Financial Officer, Jeffery S. Payne, and VP of Global Sales and Marketing, Mary E. Briggs were appointed in January 2009. Finally, this month, a new Chief Operating Officer, John C. Jordan, joined the executive team.
Coinciding with the increase in client contracts, CRF Health recently introduced an updated version of its TrialMax® 4.0 ePRO software suite, with additional functionality and enhancements. Additionally, 2008 saw the launch of the first studies using CRF Health’s Windows Mobile® device technology. This technology is now deployed globally on multiple studies for various clients with impressive results. The recent launch of the TrialSlate™ application, the CRF Health tablet offering, has also resulted in an increase in CRF’s ability to offer site-based questionnaire support and grow its service offering.
Rachael King, CEO, said “2009 has seen a strong period of growth for CRF Health and we believe we are poised for our next phase. The recent increase in the number of new contracts and increased business from existing clients is a testament to the value our technology and services bring to our client base. The new additions to our executive team are also helping us cement our position in the market as the undisputed leader in ePRO technology.”
About CRF Health
CRF Inc. d/b/a CRF Health is a global leader in ePRO (electronic Patient Reported Outcomes) solutions for the life sciences industry. Through innovative technology, a thorough understanding of drug development and mobile computing, CRF Health is driving the change to higher quality outcomes and more efficient paper-free clinical trials.
CRF Health’s ePRO technology has been used in more than 60 countries, on six continents and 68 regional languages, including 11 regional Indian dialects. CRF Health consistently demonstrates the industry’s highest patient compliance rates while delivering unrivalled data accuracy and unmatched patient and site acceptance.
Since its founding in 2000, CRF Health continues to provide true global ePRO delivery and service. Headquartered in the US, CRF Health operates its R&D center of excellence in Helsinki, Finland and has offices around the world.
For more information, please visit www.crfhealth.com
TrialMax®, TrialCollector®, TrialIntegrator®, TrialManager® and TrialStudio® are registered trademarks of CRF Health. All rights reserved. TrialLibrary™ and other CRF product references are either a trademark or service mark of CRF Inc. All rights reserved. All other trademarks and/or service marks are the property of their respective owners.
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