Image Solutions, Inc. (ISI), a global technology company and a proven leader in delivering software and services, reported a 60 percent increase in 2006 revenue over the same period in 2005 with strong profit and cash flow. ISI’s solutions support paper and electronic regulatory document submissions and clinical trials management in regions worldwide.
“Our sales performance this year was very strong and represents our most successful year in our 15 year history,” said ISI CEO and President, Jinsoo Kim. “Customer adoption of our technologies and service offerings has been extremely strong this year, and the flexibility of our global solution portfolio has enabled ISI to capture the accelerating market growth in the United States, Europe and Asia.”
ISI achieved dramatic revenue growth and an increase in the number of new clients. Most revenue was derived from ISI’s core competencies in electronic submission services, software license revenue and professional consulting.
Significant Achievements in 2006 Included:
Increased its core client base by more than 50 percent to a total of 120 clients, including the top 50 Pharmaceutical and Biotechnology organizations worldwide, as well as many mid-sized and emerging companies.
Expanded worldwide professional staff and facilities in 2006, increasing the number of employees and office facilities worldwide by almost 50 percent.
Hit major milestones in electronic submissions (eCTDs): 600 eSubmissions and more than 350 eCTD's
Launched a flexible regulatory solutions platform that leverages Microsoft .NET Framework and is based on reusable software objects that can quickly accommodate new standards and adapt to a variety of client environments and regulatory requirements.
Experienced a significant increase in the volume of large global projects, in addition to the number and diversity of projects for smaller to mid-size Pharmaceutical and Biotechnology organizations.
ISI’s CEO and President, Jinsoo Kim’s appointed as a finalist for Ernst & Young’s Entrepreneur of the Year (EOY) Award.
ISI’s sixth nomination to the Deloitte & Touché New Jersey Technology Fast 50 list.
“Growing demand for business process outsourcing and global solutions that improve workflow, speed regulatory review and improve drug manufacturer’s time-to-market continue to drive demand for ISI’s unique ability to blend software and services for process support solutions,” said Peter Kim, CFO and Vice President of Finance. “Many of our clients are seeing long-term productivity benefits by adopting ISI’s suite of solutions and services early in the drug development lifecycle, particularly for global implementations. Our solutions are designed to meet the unique needs of our global customers and the emerging standards being set by regulatory agencies worldwide.
“Further, with the tight integration of ISI’s flagship products, eCTDXPress, ISIPublisher and ISIRegTracker, along with our tools and templates, ISI can help facilitate submission document authoring, lifecycle management and publishing, while gaining greater acceptance among global pharmaceutical organizations seeking the efficiencies that can be realized through web-based enterprise collaboration and multi-region submissions,” continued Kim.
ISI has worked extremely hard over the past few years to broaden its solutions portfolio across the drug development continuum, incorporating into its solutions many of the complex requirements that clients require. “Having been strategic in our product development efforts and our professional services offerings has enhanced our already strong technology position within the Life Sciences industry, and will continue to advance ISI’s future expansion into new markets. Combined, the offerings represent a unique solution for any organization seeking to facilitate secure, compliant, enterprise-wide regulatory and clinical solutions,” added Paul Chung, Senior Vice President of Software and Service Operations at ISI.
ISI continued its practice of contributing 10 percent of net profit each year to charitable organizations like the United Way, Salvation Army, American Red Cross, UNICEF, Wishing Well Foundation, Habitat for Humanity, Compassion International, World Vision, Special Olympics – NJ, NJ Wheat Mission, Leukemia Society of America, Elizabeth Glaser Pediatric AIDS Foundation, Community Food Bank of New Jersey, Employment Horizons, Market Street Mission, Literacy Volunteers of Morris County and NJ Deaf Children’s Association.
CEO Jinsoo Kim summarized the company’s predicted growth in 2007, “ISI expects to see continued growth in pharmaceutical market share over the next year, and will continue to grow our best-in-class technology and solutions approach including the enhancement of its clinical solution suite to accommodate the industry’s current business processes and a move to Electronic Data Capture.”
About Image Solutions, Inc. (ISI)
Founded in 1992, Image Solutions, Inc. (imagesolutions.com) is a proven market leader in providing submissions solutions, process services and consulting to Life Science organizations as a way to improve clinical and regulatory processes that bring new medicines to market. ISI was among the first professional services firm to deliver electronic submissions to the industry and has since delivered more than 600 electronic submissions. ISI serves the top 50 Pharmaceutical and Biotech organizations, in addition to the top companies in other regulated industries.
ISI is a privately held company with headquarters in Whippany, New Jersey and operations throughout the US, Europe and Asia. For more information, visit the company website.
Image Solutions, Inc., eCTDXPress, ISIPublisher and ISIRegTracker are trademarks or registered trademarks of Image Solutions, Inc. which may be registered in the United States and internationally. Other brand names may be trademarks or registered trademarks of others.