Charles River Laboratories International, Inc. (NYSE: CRL) announced today that it has completed the previously announced acquisition of HemaCare Corporation (OTCMKTS: HEMA) for approximately $380 million in cash, or $25.40 per HemaCare share. HemaCare will become part of Charles River’s Research Models and Services segment.
HemaCare is a leader in the production of human-derived cellular products for the cell therapy market. The business supplies critical biomaterials, including a wide range of human primary cell types, as well as cell processing services to support the discovery, development, and manufacture of cell therapies, including allogeneic (donor-derived cells) and autologous (patient-derived cells) programs. Acquiring HemaCare expands Charles River’s scientific capabilities in the emerging, high-growth cell therapy sector, creating a comprehensive portfolio of early-stage research and manufacturing support solutions to help cell therapy developers and manufacturers advance their critical programs from basic research and proof-of-concept to regulatory approval and commercialization.
James C. Foster, Chairman, President and Chief Executive Officer of Charles River Laboratories, commented, “We are pleased to welcome the talented team at HemaCare to the Charles River family. The addition of HemaCare’s cellular products enhances our ability to provide a comprehensive cell therapy solution from discovery through commercialization, which will enhance our clients’ efficiency and accelerate their speed-to-market. The acquisition of HemaCare is a key element of our strategy to fully support our clients’ early-stage drug research efforts, achieve our long-term growth goals, and enhance shareholder value.”
Source: BusinessWire
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