Charles River Laboratories International (NYSE: CRL) said today that it has finished its previously announced $800 million purchase of MPI Research.
Mattawan, Mich.–based MPI is a non-clinical contract research organization (CRO); it provides comprehensive testing services to medical device and biopharmaceutical companies around the world. Officials at Wilmington, Mass.–based Charles River think the MPI acquisition will boost Charles River’s position as a global early-stage CRO; MPI will strengthen Charles River’s ability to partner with clients.
“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,” Charles River CEO James C. Foster said in a news release.
‘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,” Foster said.
Also today, Charles River Laboratories International announced that it has closed on its previously announced unregistered offering of $500 million in aggregate principal amount of its 5.5% senior notes due 2026.
