Charles River Laboratories International (MA, USA) has announced it is to acquire MPI Research (MI, USA) for approximately $800 million.
MPI Research is a leading CRO, providing testing and diagnostic services to medical technology and biopharmaceutical companies globally.
The purchase is set to enhance Charles River’s position as a premier early-stage CRO, as explained by the company’s Chairman and CEO, James Foster: “MPI is an exceptional strategic fit for Charles River because it incorporates the key attributes we require in an acquisition: access to growing end markets, high-quality services, scientific expertise, and complementary capabilities.”
The acquisition is intended to advance Charles River’s access to growing markets by expanding client bases and service portfolios, as well as building scale to meet demands.
The transaction is expected to close in the second quarter of 2018, with an anticipated value of between $170 and $190 million being added to Charles River’s 2018 revenue.