Harvard Bioscience announces acquisition of Coulbourn Instruments

Harvard Bioscience, Inc. (Nasdaq:HBIO), a global developer, manufacturer, and marketer of a broad range of tools to advance life science research and regenerative medicine, today announced that it has acquired the business of Coulbourn Instruments through a purchase of substantially all of Coulbourn's assets.

Coulbourn Instruments is a privately held manufacturer of behavioral measurement products, with a strong focus on systems for assessing learning and memory utilized in research laboratories. This acquisition is complementary to the current Harvard Apparatus behavior research products, thereby strengthening the company's position in this approximate $40-50 million market. 

Chane Graziano, CEO of Harvard Bioscience, commented, "The acquisition of Coulbourn provides us another well established brand in our portfolio of products and enables us to provide our customers a broader range of tools, expanded technical support and a strong direct sales team in the behavior research market. Additionally, we expect this acquisition to be immediately accretive to earnings and, going forward, we expect to add approximately $4 million in annual revenues."

Paul Mazzucco, President of Coulbourn Instruments, added, "We are delighted to join the Harvard Bioscience family of companies. Coulbourn's  U.S. presence, manufacturing and distribution capabilities and Harvard's behavioral product portfolio complement each other well. We expect that the combination of both companies' strengths will produce an environment for accelerated growth going forward. Coulbourn has achieved an almost 40 year history of leadership in the Behavioral Sciences market and I can think of no company better suited to deliver our commitment to customer satisfaction and quality standards to a broader global market than Harvard Bioscience. We are proud to be part of the team and look forward to what the future holds."