Charles River Laboratories Acquires Cognate BioServices

Charles River Laboratories Acquires Cognate BioServices

Charles River Laboratories International, Inc. (NYSE: CRL) is significantly boosting its capabilities with a new acquisition. The research giant is buying Cognate BioServices, Inc. from EW Healthcare Partners for $875 million. The acquisition and associated fees are expected to be financed through Charles River’s existing credit facility and cash. Cognate BioServices is a cell and gene therapy contract development and manufacturing organization (CDMO). The company has extensive experience producing various cell types and technologies used in cellular immunotherapy and immuno-oncology, regenerative medicine, and advanced cell therapy. Cognate BioServices’ minority shareholders include... Read More »
Other Services Diversify, but CRO and Outpatient Care still lead

Other Services Diversify, but CRO and Outpatient Care still lead

In 2017, our annual Health Care Services Acquisition Report, the Other Services sector featured six particularly active subsectors. Last year we had 13. Other Services includes areas such as specialty pharmacy, urgent care and ambulatory surgery centers and medical staffing companies. All are experiencing significant changes. In 2017 we reported 153 deals in Other Services, compared with 179 in 2018. A new notable field includes deals involving medical transportation services. There were a total of 10 deals in this category. Perhaps the most significant transaction was Beekman Investment Partners III, LP’s purchase of REVA, Inc., the largest global fixed-wing air medical platform in... Read More »
Charles River Laboratories Purchases France-based Citoxlab

Charles River Laboratories Purchases France-based Citoxlab

Charles River Laboratories International (NYSE: CRL), a global early-stage contract research organization (CRO), announced it has purchased the French non-clinical lab Citoxlab. Based in Evreux Cedex, France, the target specializes in regulated safety assessment services, non-regulated discovery services, and medical device testing. The deal cost Charles River $510 million, roughly 13.8x EBITDA for Citoxlab. The acquisition strengthens Charles River’s services in general and in specialty toxicology, preclinical medical device testing, non-regulated discovery solutions, and genomics research. The deal is expected to add $115-$130 million to Charles River’s 2019 revenue. On a trailing... Read More »