Charles River Laboratories International has signed a binding offer to acquire Citoxlab, a non-clinical contract research organization (CRO), for EUR 448 million in cash (or approximately $510 million based on current exchange rates), Charles River announced on Feb. 13, 2019. The proposed transaction, subject to customary closing adjustments, is expected to close in the second quarter of 2019. When complete, Citoxlab’s shareholders are expected to enter into a definitive purchase agreement.
Citoxlab specializes in regulated safety assessment services, non-regulated discovery services, and medical device testing. The CRO has operations in Europe and North America, which would strengthen Charles River’s position in growing end markets, enhance its global scale and geographic footprint, and augment its scientific capabilities.