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Charles River International Laboratories Inc. CRL acquired Explora BioLabs Holdings Inc.a contracted vivarium research service provider, for $295 million.

  • California-based Explora BioLabs operates more than 15 preclinical vivarium facilities, offering turnkey rental space in biohubs in Southern California, San Francisco and Boston-Cambridge, with an expansion planned for Seattle in 2022.
  • With more than 100 employees, it also offers contract vivarium management, staffing and regulatory solutions to manage client research sites.
  • The acquisition of Explora BioLabs complements and expands the Charles River Accelerator and Development Lab (CRADL) operation, which is part of Charles River’s Insourcing Solutions business.
  • CRADL offers a full-service, turnkey vivarium rental space.
  • Read more : Charles River’s fourth quarter earnings beat street expectations, reaffirm FY22 outlook.
  • The combined Explora BioLabs and CRADL operation will include at least 25 vivarium facilities by 2022, offering more than 300,000 square feet of turnkey rental capacity.
  • Explora BioLabs is now part of the company’s Research Models and Services segment.
  • Explora BioLabs achieved annual revenue of approximately $38 million in 2021.
  • Charles River expects the transaction to be slightly accretive to non-GAAP EPS from 2023.
  • The company held cash and cash equivalents of $246.3 million as of December 25, 2021.
  • Price Action: Shares of CRL are down 1.87% at $283.25 in the last check trading session on Wednesday.