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Recently, a subsidiary of PAREXEL International Corp (PRXL - Snapshot Report), Perceptive Informatics, introduced an upgraded version of its IMPACT clinical trial management system (CTMS). IMPACT CTMS solution reports, plans and tracks clinical trials, for its clients which includes many pharmaceutical and biotechnology companies.

According to Perceptive Informatics, the enhanced features of this new system, including improved data entry as well as site management and monitoring capabilities, will help customers keep up with rapid evolution in technology used in clinical trials.

Overall, the upgraded version of IMPACT CTMS solution will be more flexible as well as improve the speed and effectiveness of their clinical development programs. Perceptive's enhanced version is a customizable system that allows managers the choice of selecting the most suitable information for clinical use and then configures it consequently. This system has over 26,000 users who can study thousands of subjects and has millions of visitors.

Currently, Parexel carries a Zacks Rank #3 (Hold). This leading biopharmaceutical services company provides clinical research, consultation, and commercialization as well as technology products to various industries such as pharmaceutical, biotechnology and medical devices.

Based in Waltham, MA, the company operates in three major segments — clinical research services, Parexel consulting and medical communications services and perceptive informatics. PAREXEL operates in 73 locations throughout 51 countries around the world.

Other medical product stocks worth considering are Air Methods Corp. (AIRM - Snapshot Report), ICON Public Ltd (ICLR - Snapshot Report) and Catamaran Corp (CTRX - Snapshot Report). While Air Methods Corp. carries a Zacks Rank #1 (Strong Buy), ICON Public Limited and Catamaran Corporation carry a Zacks Rank #2 (Buy).

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