WILMINGTON, Mass.--(BUSINESS WIRE)--Apr. 3, 2018--
Charles River Laboratories International, Inc. (NYSE: CRL) announced
today that it has completed the previously announced acquisition of MPI
Research for approximately $800 million in cash, subject to certain
customary adjustments.
MPI is a premier non-clinical contract research organization (CRO)
providing comprehensive testing services to biopharmaceutical and
medical device companies worldwide. Acquiring MPI will enhance Charles
River’s position as a leading global early-stage CRO by strengthening
its ability to partner with clients across the drug discovery and
development continuum.
James C. Foster, Chairman and Chief Executive Officer of Charles River
Laboratories, commented, “We are pleased to welcome the exceptional team
at MPI Research to the Charles River family. The addition of MPI’s
scientific expertise, high-quality services, and complementary
capabilities will enable us to enhance the support we can provide to
clients, as they address the complex challenges of drug discovery and
early-stage development. The acquisition of MPI also enhances our
ability to achieve our long-term growth goals by building scale to meet
current and future demand, and by expanding our biotechnology client
base, the fastest-growing market segment.”
Caution Concerning Forward-Looking Statements
This news release includes forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995. Forward-looking
statements may be identified by the use of words such as “anticipate,”
“believe,” “expect,” “will,” “may,” “estimate,” “plan,” “outlook,” and
“project” and other similar expressions that predict or indicate future
events or trends or that are not statements of historical matters.
Forward-looking statements include statements in this news release
regarding the acquisition of MPI Research and Charles River’s
expectations with respect to the impact of MPI Research on Charles
River, its service offerings, client perception, revenue, revenue growth
rates, and earnings; Charles River’s projected future performance
including revenue and earnings per share; Charles River’s expected
operational synergies; as well as Charles River’s future growth in the
area of safety assessment. Forward-looking statements are based on
Charles River’s current expectations and beliefs, and involve a number
of risks and uncertainties that are difficult to predict and that could
cause actual results to differ materially from those stated or implied
by the forward-looking statements. Those risks and uncertainties
include, but are not limited to, the ability to successfully integrate
the acquisition of MPI Research. A further description of these risks,
uncertainties, and other matters can be found in the Risk Factors
detailed in Charles River's Annual Report on Form 10-K as filed on
February 13, 2018, as well as other filings we make with the Securities
and Exchange Commission. Because forward-looking statements involve
risks and uncertainties, actual results and events may differ materially
from results and events currently expected by Charles River, and Charles
River assumes no obligation and expressly disclaims any duty to update
information contained in this news release except as required by law.
About Charles River
Charles River provides essential products and services to help
pharmaceutical and biotechnology companies, government agencies and
leading academic institutions around the globe accelerate their research
and drug development efforts. Our dedicated employees are focused on
providing clients with exactly what they need to improve and expedite
the discovery, early-stage development and safe manufacture of new
therapies for the patients who need them. To learn more about our unique
portfolio and breadth of services, visit www.criver.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20180403005760/en/
Source: Charles River Laboratories International, Inc.
Charles River Laboratories International, Inc.
Investor Contact:
Susan
E. Hardy, 781-222-6190
Corporate Vice President, Investor Relations
susan.hardy@crl.com
or
Media
Contact:
Amy Cianciaruso, 781-222-6168
Corporate Vice
President, Public Relations
amy.cianciaruso@crl.com