Bioanalytical Systems announced the Company has entered into an agreement to purchase substantially all of the assets of Pre-Clinical Research Services (PCRS), a provider of surgical and medical device contract research services.
“We have great respect for the people and services provided by PCRS, and believe the current facilities in Ft. Collins, Colorado, will be an excellent location for future growth,” said Bob Leasure, BASi’s President and Chief Executive Officer. “Our Companies have worked together for several years on multiple projects. Becoming one with PCRS will allow us to provide broader services in more areas of research and development than ever before. The combination will further expand our toxicology business and brings the ability to provide surgical services for pharmaceutical and medical device clients. We believe this addition is perfectly aligned with our strategy of being right-sized; small enough to be flexible and responsive, and comprehensive enough to have meaningful impact on our clients’ product development needs. The facilities and leadership team at PCRS are an excellent complement to our already strong team, and we look forward to working with them to continue to build this team and expand the business in the future.”
“At PCRS we have catered to clients that were focused on medical devices and surgical models—it has become our brand,” Dr. Donald Maul, founder and president of PCRS, said. “Very often we needed to rely on outside collaborators to fully support a project. By coming together with BASi, we will become much more comprehensive and have the ability to provide bioanalytical, histology, pathology, and pharmacokinetic evaluations. The combination will also afford our clients the ability to work in non-human primate models. Formalizing our partnership with BASi makes it easier for our clients to do more sophisticated projects with a provider that is dedicated to providing quality service.”
The transaction is subject to customary closing processes and is anticipated to close within calendar 2019. A Current Report on Form 8-K containing further details regarding the contemplated transaction has been filed by BASi and is available on the U.S. Securities and Exchange Commission’s EDGAR website.