OR WAIT null SECS
A $800-million acquisition of MPI Research expands Charles River's offerings for early-stage contract research.
Charles River Laboratories International announced on Feb. 13, 2018 that it has entered into a definitive agreement to acquire MPI Research for approximately $800 million in cash, expanding its early-stage contract research offerings for the biopharmaceutical and medical device markets.
MPI, a Mattawan, MI-based non-clinical contract research organization (CRO), provides comprehensive testing services from its one-million-sq.-ft. facility. The acquisition will add ototoxicity and abuse liability capabilities to Charles River’s services, and will expand
existing capabilities in general and specialty toxicology, including ophthalmology, juvenile toxicity, molecular biology, and surgery, as well as medical device testing, Charles River reports.
In the announcement, Charles River reported strategic benefits of expanding its biotechnology client base, adding infrastructure for safety assessment, and generating revenue growth.
The transaction is expected to close in the second quarter of 2018, according to a Charles River press statement.
Source: Charles River Laboratories