Charles River Laboratories Inc. said it will acquire a 75 percent ownership stake in Vital River, a Chinese provider of research models and related services for nearly $27 million.
Through this acquisition, Charles River will provide research models and associated services to the emerging China market for drug discovery and development. The deal is expected to close in the first quarter of next year, subject to customary closing conditions, including Chinese regulatory approvals.
For the last 10 years, Vital River has been a licensee for production and distribution of Charles River research models in China, with sites which reflect Charles River facility design.
The agreement also provides an option for Charles River to acquire the remaining 25 percent of Vital River at a later date.
Earlier this month, Charles River entered into a partnership with AstraZeneca for outsourced regulated safety assessment and drug metabolism and pharmacokinetics development. Last month, Charles River opened a new 60,000-square-foot biomedical diagnostic testing facility in Wilmington.
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