ARX's CoSign Digital Signature Solution Provides Security, FDA Compliance, and Annual Cost Savings of $150,000 at MEDRAD

Boston , California June 23, 2008

A recent analysis by MEDRAD, a worldwide leading provider of medical devices and services that enable and enhance imaging procedures of the human body, found that the ARX's CoSign(R) digital signature technology will produce a cost savings of $150,000 annually.

Creating a completely interoperative electronic workflow across dozens of business sites using the CoSign technology, MEDRAD now electronically generates, signs, sends and archives tens of thousands of field service reports in compliance with U.S. Food and Drug Administration (FDA) regulations.

"The cost of CoSign will pay for itself in just three months, and allows more time for our field reps to concentrate on work, not paperwork," says Angela Gasper, IT Project Manager at MEDRAD.

A required internal process that typically took two weeks is now completed in just 60 seconds with CoSign. CoSign's software-independent portability also provides MEDRAD with an enabling technology that offers great efficiency gains while still fitting their required business process.

"CoSign implementation in the life sciences industry has increased 6,000 percent in three years, providing companies and research organizations with a cost savings of up to 90 percent over alternate digital signatures approaches," says Rodd Schlerf, Life Science and Healthcare Practice Manager, ARX.

"CoSign provides immediate payback for small, medium and large organizations, including leading life science organizations like Novartis and Pfizer," Schlerf says. "Our technology offers secure electronic records and achieves compliance with FDA regulations, saving these organizations huge amounts of money and more importantly -- people's time."

CROs and CSOs Lead Adoption of CoSign

Contract Research Organizations (CROs) represent some of the most substantial deployments of CoSign digital signatures.

"We currently have three of the top 10 largest CROs as CoSign users, but we are equally proud of the fact that our digital signature solution is affordable and easy to deploy for many smaller CRO companies, some of which have fewer than 50 total employees," says Schlerf.

One of the most common applications for CoSign at CROs is enabling Clinical Research Associates to digitally sign Monitor Trip Reports. One large CRO estimates that they will save over $500,000 annually in priority mailing costs alone.

Many of the world's largest Clinical Service Organizations (CSOs) have now gone live with CoSign, including more than 20 central labs and vendors providing Interactive Voice Response Systems (IVRS), Electronic Data Capture (EDC) and Clinical Trial Management Systems (CTMS) services.

ClinPhone, the world's leading provider of eClinical Technology Services, is a prime example of an organization that has significantly reduced paper, microfilming and archiving costs. In addition to improving workflows, the company has also reduced time spent prepping for and supporting audits.

"To obtain an approval on a project before using CoSign required us to fax documents from our headquarters to branches around the world. It could take three to four weeks to get signatures from all the parties. Today the process is completed in 10 minutes. CoSign paid for itself just in terms of increased productivity," says Daljit S. Cheema, ClinPhone's Chief Operating Officer.

About MEDRAD

MEDRAD, Inc. is a worldwide leading provider of medical devices and services that enable and enhance imaging procedures of the human body. Used in diagnostic imaging, MEDRAD's product offerings include a comprehensive line of vascular injection systems, magnetic resonance (MR) surface coils and accessory products, and equipment services. MEDRAD is a recipient of the 2003 Malcolm Baldrige National Quality Award in the manufacturing category, the top honor a U.S. company can achieve for business excellence. For more information please visit www.medrad.com/.

CoSign makes it easy to digitally sign transactions, documents, and records by embedding the standard signature technology directly into mainstream business applications. CoSign produces a signature record for every signature it captures. This Portable Signature Format (CoSign PSF™) allows anyone to seamlessly verify and retain proof of identity, intent, and document integrity without costly, complicated, or proprietary software. CoSign keeps your business running smoothly by fully automating and quickly scaling processes at a low cost and with proper controls. Learn more at www.arx.com/products/cosign_moreinfo.php.

About ARX - The Digital Signature Company

ARX (Algorithmic Research) is a global provider of cost-efficient digital signature solutions for industries such as life sciences, healthcare, government, and engineering. ARX engineers and scientists have more than 20 years of experience in security and standard digital signature application. ARX helps businesses secure, streamline, and scale their business processes and transactions with the proper controls required by legislation, regulation, and industry best practice. Visit us at www.arx.com.

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CoSign and SAPI are registered trademarks and CoSign PSF is a trademark of Algorithmic Research, Ltd. All other trade names and trademarks are the property of their respective holders.

Press Contact:
Edna Kaplan
KOGS Communication
781-639-1910/phone
kaplan@kogspr.com