Business
In-Touch Insight Systems Inc. acquires the Field Research division of NAVEX Global Inc.
OTTAWA, April 2, 2013 /CNW/ - In-Touch Insight Systems Inc. ("In-Touch") (TSXV: INX) anno...
About this update from Intouch Insight Ltd.
[{"type":"text","content":"\n\n\n\n\n\nOTTAWA, April 2, 2013 /CNW/ - In-Touch Insight Systems Inc. (\"In-Touch\") (TSXV: INX) announces that it\n has acquired the Field Research (\"FR\") division of NAVEX Global Inc.\n (\"NAVEX\"). FR provides overt and covert on-site evaluations and\n inspections, primarily in the United States with some audits in Canada,\n to gauge compliance with legislation, regulations and organizational\n policies and procedures such as the following:\n\n\nFR offers a wide variety of options to assist pharmaceutical companies\n in compliance with the Prescription Drug Marketing Act's (PDMA)\n guidance for a proactive sample accountability program. The\n Prescription Drug Marketing Act (PDMA) is a United States federal law\n that was enacted to ensure that drug products purchased by consumers\n are safe and effective, and to avoid the unacceptable risk to U.S.\n consumers from counterfeit, adulterated, misbranded, sub-potent or\n expired drugs.\n\n\nFR is approved by the three major credit bureaus (Experian®, Equifax®,\n TransUnion®) to provide standard and custom physical site inspections\n that validate business legitimacy and prospective customer intent prior\n to the sale of personal data. The Fair Credit Reporting Act (FCRA) is a\n United States federal law that regulates the collection, dissemination,\n and use of consumer information, including consumer credit information.\n\n\n\"We have researched and followed the legislated/regulated compliance\n market for several years and have been actively searching for effective\n ways to enter this market. The acquisition of the FR division from\n NAVEX provides us with an excellent market entry point, as it has\n Fortune 1000 customers in place and complete operational capability.\n Looking forward, the combination of the FR along with our mobile web\n data capture technology will provide the combined entity with a\n significant differentiation over the competition\", said Michael\n Gaffney, Chief Executive Officer of the Company.\n\n\nThe purchase of FR from NAVEX of certain assets and the assumption of\n certain liabilities, was for a cash purchase price of one million\n dollars ($1M) and is anticipated to add more than two million dollars\n ($2M) in annual revenues to In-Touch. The Company expects increased\n revenues from this division in the future now that FR has ...