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.