CoreCare Systems forms joint venture to establish brain research center.ERDENHEIM, Pa.--(BUSINESS WIRE)--July 1, 1997--CoreCare Systems Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on BB:CRCS CRCS Canadian Red Cross Society CRCS Clinical Record Cover Sheet CRCS Coalition to Reduce Class Size CRCS Coordinator of Reserve Component Support CRCS Centralized Routing and Centralized Scheduling ), a regional provider of mental healthcare services, has formed a joint venture with HZI Research Center Inc. of Tarrytown, N.Y., to establish a brain research center, it was announced today by Thomas T. Fleming, chairman. The new joint venture, Neuro-Core Research Center, will be located at Kirkbride Center, a 27-acre medical complex being developed by CoreCare Systems in Philadelphia. "The pharmaceutical industry is relying more heavily on outsourcing for the testing of new compounds and the development of new markets for existing compounds," Fleming said. "The Neuro-Core Research Center has all the ingredients for attracting federal and pharmaceutical grant money, including a large, dedicated clinical facility in a prime location, a strong existing patient base from which to call volunteers and highly qualified, well-connected medical directors." CoreCare Systems will distribute products developed at the Neuro-Core Research Center through Memory Centers of America and through Quantum/Managed Mental Health Systems Inc., a nationwide network of nearly 3,000 clinical psychologists This list includes notable Clinical Psychologists and contributors to Clinical psychology, some of whom may not have thought of themselves primarily as Clinical psychologists but are included here because of their important contributions to the discipline. which CoreCare Systems has agreed to acquire. HZI Research is the parent company of NeuroCorp Ltd., a supplier of contract research in psychopharmacology psychopharmacology (sī'kōfär'məkŏl`əjē), in its broadest sense, the study of all pharmacological agents that affect mental and emotional functions. and Alzheimer drug research. NeuroCorp and CoreCare Systems formed a joint venture last year to develop new products, including treatments for memory disorders. The joint venture also operates Memory Centers of America, which provides diagnostic, preventive and treatment services to persons who suffer from dementia and other memory disorders. Clinical activities at the Neuro-Core Research Center will include phase I, II, III, and IV pharmacologic trials. The Center will have an FDA-approved Investigation Review Board and an inpatient and outpatient clinical research unit. Data gathered from ongoing research will be analyzed and used to assist in determining the efficacy and dosing of psychopharmacologic medications. Clinical directors of Neuro-Core Research Center are: Dr. Turan Itil, president of HZI, a World Health Organization senior researcher, clinical professor of psychiatry at the New York University New York University, mainly in New York City; coeducational; chartered 1831, opened 1832 as the Univ. of the City of New York, renamed 1896. It comprises 13 schools and colleges, maintaining 4 main centers (including the Medical Center) in the city, as well as the School of Medicine and an international authority on the clinical application of dynamic brain mapping Brain mapping is a set of neuroscience techniques predicated on the mapping of (biological) quantities or properties onto spatial representations of the (human or non-human) brain resulting in maps. All neuroimaging can be considered part of brain mapping. , and Dr. David Baron, executive vice president and medical director of Core Care Systems, a clinical professor of psychiatry at Temple University School of Medicine The Temple University School of Medicine (TUSM), located on the Health Science Campus of Temple University in Philadelphia, PA, is one of 6 schools of medicine in Pennsylvania conferring the doctor of medicine (M.D.) degree. , former deputy clinical director and current guest researcher at the National Institute of Mental Health The National Institute of Mental Health (NIMH) is part of the federal government of the United States and the largest research organization in the world specializing in mental illness. . CoreCare Systems, operator of the Kirkbride Center in Philadelphia, is a regional behavioral healthcare delivery network providing vertically integrated treatment services in eastern Pennsylvania and New Jersey with annual revenues in excess of $20 million. The company also operates a nationwide network of nearly 3,000 clinical psychologists and, through joint venture partnerships, also is involved in the research, testing and distribution of treatments for Alzheimer's Disease Alzheimer's disease (ăls`hī'mərz, ôls–), degenerative disease of nerve cells in the cerebral cortex that leads to atrophy of the brain and senile dementia. and other memory disorders. CONTACT: CoreCare Systems Inc., Erdenheim Thomas T. Fleming, 215/836-2530 |
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