Acquisition of BioClinica, Inc. by JLL Partners, Inc. May Not Be in BioClinica, Inc. Shareholders' Best Interests

     Acquisition of BioClinica, Inc. by JLL Partners, Inc. May Not Be in
                BioClinica, Inc. Shareholders' Best Interests

PR Newswire

SAN DIEGO and NEWTOWN, Pa., Jan. 31, 2013

SAN DIEGO andNEWTOWN, Pa., Jan. 31, 2013 /PRNewswire/ --Shareholder rights
attorneys at Robbins Arroyo LLP are investigating the acquisition of
BioClinica, Inc. (NASDAQ: BIOC) by JLL Partners, Inc. BioClinica provides
clinical trial solutions to pharmaceutical, biotechnology, and medical device


On January 30, 2013, BioClinica announced that it had entered into a
definitive merger agreement to be acquired by a holding company controlled by
JLL Partners. Pursuant to the agreement, BioClinica's shareholders will
receive $7.25 in cash for each share of common stock. The transaction has
been approved by the board of directors of BioClinica. Additionally,
BioClinica's current President and CEO, Mark L. Weinstein, will lead the new

The Board of Directors' Actions May Prevent BioClinica Shareholders from
Receiving the Maximum Value for Their Stock

Robbins Arroyo LLP's investigation focuses on whether the board of directors
at BioClinica is undertaking a fair process to obtain maximum value and
adequately compensate its shareholders or seeking to benefit themselves. The
$7.25 per share offer price is substantially below the $9 target price set by
an analyst at Benchmark Company on November 9, 2012.

Further, on November 8, 2012, BioClinica reported financial results for the
third quarter ended September 30, 2012, reflecting record service revenues and
a strong increase in Non-GAPP operating income over the same period for the
prior year. Specifically, the company reported service revenues of $19.2
million for the quarter, an increase of 16% compared to the same period in
2011. In addition, Non-GAAP operating income increased 26%, from $2 million
to $2.6 million, over the same period the previous year. Moreover,
BioClinica's President and CEO Mark Weinstein, announcing the company's third
quarter results, concluded that "[o]ur backlog and strong proposal pipeline
position us well for future growth."

Given these facts, the firm is examining the board of directors' decision to
sell BioClinica now rather than allow shareholders to continue to participate
in the company's continued success and future growth prospects. 

BioClinica shareholders have the option to file a class action lawsuit against
the company to secure the best possible price for shareholders and the
disclosure of material information so shareholders can vote on the transaction
in an informed manner. BioClinica shareholders interested in information about
their rights and potential remedies can contact Darnell R. Donahue at (800)
350-6003,, or via the shareholder information form
on the firm's website.

Robbins Arroyo LLP is a nationally recognized leader in securities litigation
and shareholder rights law. The firm represents individual and institutional
investors in shareholder derivative and securities class action lawsuits, and
has helped its clients realize more than $1 billion of value for themselves
and the companies in which they have invested. For more information, please
go to

Press release link:

Attorney Advertising. Past results do not guarantee a similar outcome.

Darnell R. Donahue
Robbins Arroyo LLP
(619) 525-3990 or Toll Free (800) 350-6003

SOURCE Robbins Arroyo LLP

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