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Clinical Data Eyes European Markets with $3M Purchase of Genome Express

NEW YORK, March 7 (GenomeWeb News) - Clinical Data has acquired Genome Express for €2.7 million ($3.15 million). That amount represents €200,000 in cash and the balance in 123,179 shares of Clinical Data common stock.

 

Clinical Data CEO Israel Stein said the acquisition would enable the company to expand into European markets.

 

"From both a financial and product perspective, and in terms of Genome Express' geographic reach and client base of over 2,000 active customers, this acquisition provides Clinical Data with an ideal opportunity to support additional European initiatives," he said in a statement.

 

Stein said the transaction would be accretive to earnings "over the relatively near term."

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