LOUISVILLE, Colo., July 17, 2008 (PRIME NEWSWIRE) -- PROMOTECH, an inVentiv Health company (Nasdaq:VTIV) and a leading provider of non-personal marketing solutions in the pharmaceutical, healthcare and life science industry, has built a new literature warehouse in Louisville, Colorado, to accommodate its growing business and increased client activity.
The 135,000-square-foot warehouse was built within the Colorado Technology Center, the same office park where PROMOTECH's administrative offices and prescription drug warehouse are located. The new facility allowed PROMOTECH to consolidate three other literature facilities, enabling the company to significantly increase efficiencies.
PROMOTECH's revenue has grown by more than 200 percent over the last five years, due largely to changes in the business environment of its pharmaceutical clients. With a focus on managing their budgets effectively, a growing number of pharmaceutical companies are turning to PROMOTECH for support with non-personal market services such as direct mail, literature fulfillment and printing. The new warehouse will enable PROMOTECH to meet those needs, while also preparing for future growth.
"We're thrilled that healthcare clients are increasingly seeking PROMOTECH's help in delivering marketing and sales solutions," said Warren Merlino, executive vice president and managing director at PROMOTECH. "Our new literature warehouse significantly expands our capacity to deliver upon their expectations."
The new facility is equipped with state-of-the-art technology including a Manhattan Warehouse Management System, Cisco Phone Switch, and Xerox iGen3 110 Digital Production Press. These systems facilitate faster and more efficient business solutions for PROMOTECH's clients.
To commemorate the opening of the warehouse, a grand opening celebration was held June 12 and included a VIP breakfast, tour, ribbon cutting ceremony and luncheon. Special guests included Chuck Sisk, Mayor of the City of Louisville; Renny Fagan, Chief of Staff for Senator Ken Salazar; and officers from the Colorado Office of Economic Development and Colorado Bio Science Association. Former NFL player Dave Logan served as Master of Ceremonies, and Denver Bronco Rod Smith gave the keynote address.
PROMOTECH's core competencies include warehouse and fulfillment, tele-services (inbound/outbound/data entry), database management, e-services, printing, direct mail and coordination of inbound freight. Through these competencies, PROMOTECH creates customized solutions that will directly meet their clients' marketing needs while adding value to their firm.
About inVentiv Health
inVentiv Health, Inc. (Nasdaq:VTIV) is an insights-driven global healthcare leader that provides dynamic solutions to deliver customer and patient success. inVentiv delivers its customized clinical, sales, marketing and communications solutions through its four core business segments: inVentiv Clinical, inVentiv Communications, inVentiv Commercial, and inVentiv Patient Outcomes. inVentiv Health's client roster is comprised of more than 350 leading pharmaceutical, biotech, life sciences and healthcare payor companies, including all top 20 global pharmaceutical manufacturers. For more information, visit www.inventivhealth.com.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks that may cause inVentiv Health's performance to differ materially. Such risks include, without limitation: our ability to sufficiently increase our revenues and maintain or decrease expenses and cash capital expenditures to permit us to fund our operations; our ability to continue to comply with the covenants and terms of our credit facility and to access sufficient capital to fund our operations; our ability to grow our existing client relationships, obtain new clients and cross-sell our services; our ability to successfully operate new lines of business; our ability to manage our infrastructure and resources to support our growth; our ability to successfully identify new businesses to acquire, conclude acquisition negotiations and integrate the acquired businesses into our operations; any disruptions, impairments, or malfunctions affecting software as well as excessive costs or delays that may adversely impact our continued investment in and development of software; the potential impact of government regulation on us and on our clients base; our ability to comply with all applicable laws as well as our ability to successfully implement from a timing and cost perspective any changes in applicable laws; our ability to recruit, motivate and retain qualified personnel, including sales representatives; the actual impact of the adoption of certain accounting standards; our ability to maintain technological advantages in a variety of functional areas, including sales force automation, electronic claims surveillance and patient compliance; changes in trends in the healthcare and pharmaceutical industries or in pharmaceutical outsourcing; and our inability to determine the actual time at which the liquidation of the Columbia Strategic Cash Portfolio will be completed or the total losses that we will actually realize from that investment vehicle. . Readers of this press release are referred to documents filed from time to time by inVentiv Health Inc. with the Securities and Exchange Commission for further discussion of these and other factors.