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Corporate Info: Press Room: Current

Radiant Acquires Four InSync Research Sites

November 27, 2000

KIRKLAND, WASHINGTON - Radiant Research Inc., a national site management organization (SMO) performing clinical trials, announced today that it has acquired four multispecialty investigative research sites from InSync Research of Aliso Viejo, CA. The acquisition follows Radiant's announcement last week of its initiation of a new research site in Moorestown, NJ, and its announcement in May of the acquisition of Hill Top Research's pharmaceutical division. Radiant now employs more than 600 investigators and site personnel experienced in conducting over 5,000 studies across 16 therapeutic areas.

Under the terms of the acquisition, Radiant purchases three multispecialty clinics in Southern California and one site in Arizona. The clinics include the Bristol Park Medical Group in Fountain Valley, Calif; Facey Medical Group in Mission Hills, Calif.; Riverside Medical Clinic in Riverside, Calif.; and the Arizona Medical Clinic in Peoria, Ariz.

"The SMO business is not as simple as many people thought it would be a few years ago," said Julie Thompson, InSync CEO. "InSync has invested several million dollars building our organization. Although we have an excellent foundation, it is clear that it will take a substantial additional investment to build our company to the size that offers true value to sponsors. Radiant is already there, so they were our logical choice. We've decided not to continue in the race."

"Frankly, we are not in the acquisition mode, so we were pleased that this opportunity presented itself," noted Mike Lester, Radiant CEO. "After our acquisition of Hill Top's pharma division in May, we aimed our strategic focus from acquisitions to operational excellence. The development of our operational infrastructure has put us in the position of being able to seize opportunities such as these. Most importantly, for Radiant's customers, this means we will be able to offer them even more capacity for our study conduct services."

Radiant intends to model the newly acquired InSync research sites after its highly successful Austin site-one of the largest investigative sites in the country. InSync is considering its strategic alternatives for its remaining three sites which Radiant elected not to acquire. "Our preference will be to transition those studies back to our investigators," said Thompson. "Our focus was and will be on patient safety."

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About Radiant Research
Based near Seattle, Washington, Radiant Research (radiantresearch.com) is a comprehensive clinical research and development company serving the biopharmaceutical and medical device industry. Radiant is comprised of more than 30 wholly-owned premier clinical research centers nationwide, employing over 500 clinical research professionals exclusively focused on providing professional, high quality study conduct and drug development services. In the past four years, Radiant has conducted more than 8,000 clinical trials across 18 therapeutic specialties.

Contact:  
Michael K. Lester
Chief Executive Officer
RADIANT RESEARCH
(425) 468-6200
Pamela M. Spaniac
Chief Financial Officer
RADIANT RESEARCH
(425) 468-6200