Four industry leaders have formed Neolytica, a Web-enabled, single point of contact for outsourcing and contracting analytical testing services.
According to the partners, Air Products and Chemicals, The Dow Chemical Company, and Intertek Testing Services, nearly $10 billion in analytical services are currently being outsourced and the anticipated growth is more than 20% per year.
Neolytica aims to simplify outsourcing by identifying the most appropriate resources from a network of qualified labs, initiating contracts, managing multiple projects with multiple labs and customising reports and tests to meet customer specifications.
Future target market segments for Neolytica will include metals, pharmaceuticals, agrochemicals, electronics, and biotech industries.
The operational launch date for Neolytica is planned for the first half of 2002.
Financial terms of the agreement were not disclosed.