Medical Tech Firm eResearch Technology Inc. (ERT) (ERES) Being Sold for $400 Million

4/10/2012 8:38:45 AM

Medical technology services provider eResearch Technology Inc. has agreed to be acquired by the private equity firm Genstar Capital LLC in a deal valued at about $400 million. The Philadelphia company provides technology and services that help medical device and drug companies interpret data related to cardiac safety. The company said Tuesday that Genstar will pay $8 per share in cash for each eResearch share, a 2 percent premium over the stock's closing price of $7.84 on Monday.

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