PDI Discontinues InServe Business Unit
Monday, 05 December 2005
PDI, Inc. a diversified sales and marketing services provider to the pharmaceutical industry, announced that it is discontinuing its InServe business unit.
InServe provides clinical after sales support to medical devices and diagnostics companies. Nurses, medical technologists, and other clinicians, employed by InServe, train and provide clinical education and after sales support to the medical staff of hospitals and clinics that recently purchased equipment.
Through September 30, 2005, InServe generated revenue of $4.2 million. The Company expects to be taking a writedown of intangible assets and goodwill attributed to InServe in the fourth quarter of 2005.
Today's action is part of PDI's plan to return the company to profitability and to focus on its core business of servicing the pharmaceutical industry. In addition, the Company is reducing expenses, investing in new business development and marketing resources, and using its balance sheet to drive shareholder value including making accretive acquisitions.