Columbia West Capital News
02.20.06 CWC closes $18 million sale of Clickfind to Datatrack


Columbia West Capital, LLC is pleased to announce that DATATRAK
a technology company focused on global eClinical solutions for the
clinical trials industry, reported it has acquired the outstanding stock
of ClickFind, Inc., of Bryan, Texas, a privately-held company focused
on the provision of integrated technology solutions for clinical trials.
The transaction provides for a total consideration of $18 million
inclusive of $4 million each of cash and three-year notes and
1,026,522 restricted shares of DATATRAK common stock priced at
$9.25 per share. According to the Purchase Agreement, the sellers’
stock will remain restricted for 12 months.

The acquisition of the expansive and integrated software architecture
of ClickFind, Inc. immediately fulfills DATATRAK’s strategy of being
able to provide its customers with the broadest multi-component
eClinical capability in the clinical trials market.

DATATRAK will be able to leverage its current global deployment
experience in 55 countries to allow for expansion of the former
ClickFind product suite into a worldwide scope. Over the past five
years, ClickFind’s product suite has been used in 83 clinical trials in
19 countries involving 35,000 patients at more than 1,600 research
sites. These additions, together with DATATRAK’s extensive
experience, lead to a combined total for both companies of more than
230 clinical trials involving data collection in more than 100,000
patients at approximately 10,000 research sites worldwide.

ClickFind management was advised by Columbia West Capital, LLC
on this transaction.