Bio-Imaging Technologies, Inc. (NDAQ: BITI) shares moved higher after a large shareholder recommended changes to improve the firm in a Schedule 13D filing with the SEC. Heathinvest Partners disclosed a 5.3% stake in the firm and said they are very frustrated with the recent performance of the company that has resulted in the deterioration of value in 2008. Although the Imaging Services division, which has grown 19%, and the newly acquired Phoenix Data Systems unit seem to be developing well, the company's share price has declined 66% year-to-date. "We believe that the source[More...]

Bio-Imaging Technologies, Inc. (BITI) is a contract healthcare service organization that provides support to the pharmaceutical, biotechnology and medical device industries during clinical trial processes. Bio-Imaging reported second quarter results this morning that surpassed analysts’ estimates. Revenues were $19.3 million, an increase of 65% year over year and higher than consensus of $17.3 [...]