iCardiac Technologies has been acquired by ERT, a global data and technology company that minimizes uncertainty and risk in clinical trials. Financial terms of the transaction were not disclosed.
The acquisition enables ERT to expand its portfolio of proven cardiac safety solutions, specifically through the addition of iCardiac’s sophisticated, algorithm-driven technology, which supports efficient, cost-effective and regulatory-compliant methods of conducting QT assessments in early phase clinical trials, officials said. Through these expanded capabilities, ERT is better positioned to meet its customers’ unique needs at every phase of clinical development.
“This is a natural fit between two organizations with rich histories of innovation that have shaped the clinical trial landscape,” said James Corrigan, President & CEO, ERT. “The iCardiac acquisition expands ERT’s ability to deliver solutions that help our customers create novel therapies in the fastest, most efficient and cost-effective manner possible. This includes greater flexibility in early phase trials, as well as a stronger partner who can support the entire development lifecycle.”
Alex Zapesochny, President and CEO of iCardiac, will join ERT’s executive team to lead the company’s Cardiac Safety business, which includes ERT’s existing Cardiac Safety services as well as those offerings recently acquired via Biomedical Systems.
“iCardiac has introduced several breakthrough innovations over the past decade, including High Precision QT and Early Precision QT methodologies,” Zapesochny said. “I look forward to continuing this tradition of helping customers navigate an increasingly complex clinical development landscape and bring new treatments to market faster.”
Zapesochny co-founded iCardiac Technologies in 2006, based on technology developed at the University of Rochester. The company has grown to more than 200 employees since then. Most recently it ranked No.3 on the Rochester Top 100, a list of the area’s fastest-growing private companies.