Charles River Laboratories International, Inc. (NYSE: CRL) announced
today that it has acquired Accugenix, Inc., the premier global provider
of cGMP-compliant contract microbial identification testing, for
approximately $17 million in cash. This acquisition strengthens Charles
River's Endotoxin and Microbial Detection (EMD) portfolio of
products and services by providing clients with state-of-the-art
microbial detection services for manufacturing in the biopharmaceutical,
medical device, nutraceutical and consumer care industries. The
acquisition is expected to be neutral to earnings per share on both a
GAAP and non-GAAP basis in 2012. In 2013, it is expected to represent
approximately 1% of total net sales and be slightly accretive to both
GAAP and non-GAAP earnings per share.
Accugenix is an acknowledged industry leader in species-level
identification and strain typing of bacteria and fungi that are
recovered from manufacturing facilities. The company has invested in
proprietary library databases which allow it to identify over 5,000
species of organisms. Utilizing state-of-the-art and proprietary in
vitro technologies, coupled with scientific expertise and analysis,
Accugenix excels in providing accurate, time-effective and
cost-effective microbial identification services required to meet
internal quality standards and government regulations.
James C. Foster, Chairman, President and Chief Executive Officer of
Charles River said, "The acquisition of Accugenix is the first step in
our broader strategy to become the premier provider of rapid microbial
and endotoxin detection products and services to the biopharmaceutical
industry. Over the next several years, we intend to enhance our
capabilities through both product extensions and acquisitions. We
believe that execution of this strategy will advance our position as the
market leader in endotoxin and microbial detection."
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