BASi Announces Expansion into Surgical Models and Medical Devices with Agreement to Purchase Pre-Clinical Research Services
November 08 2019 - 3:00PM
Bioanalytical Systems, Inc. (NASDAQ:BASI) (“BASi” or the
“Company”), a leading provider of nonclinical and analytical
contract research services, today announced that the Company has
entered into an agreement to purchase substantially all of the
assets of Pre-Clinical Research Services, Inc. (“PCRS”), a premier
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.” Dr.
Donald Maul, founder and president of PCRS, added, “At PCRS we have
catered to clients that were focused on medical devices and
surgical models—it has become our brand. 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.”
By combining BASi and PCRS, our clients will have the ability to
work with one provider having expertise in a broad range of
scientific disciplines, including:
- Pharmacology
- Toxicology
- Drug Metabolism
- Pharmacokinetics
- Bioanalysis
- Intravascular Device and Structural Heart Models
- Surgical and Medical Devices
- Scientific and Regulatory Consulting
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.
About Bioanalytical Systems, Inc.
BASi is a pharmaceutical development company providing contract
research services and monitoring instruments to emerging
pharmaceutical companies and the world's leading drug development
companies and medical research organizations. The Company focuses
on developing innovative services supporting its clients’ discovery
and development objectives for improved decision-making and
accelerated goal attainment. BASi’s products focus on increasing
efficiency, improving data, and reducing the cost of taking new
drugs to market. Visit www.BASinc.com for more
information about BASi.
This release may contain forward-looking statements that are
subject to risks and uncertainties including, but not limited to,
risks and uncertainties related to changes in the market and demand
for our products and services, the development, marketing and sales
of products and services, changes in technology, industry and
regulatory standards, the timing of acquisitions and the successful
closing, integration and business and financial impact thereof and
various market and operating risks, including those detailed in the
Company's filings with the U.S. Securities and Exchange
Commission.
FOR MORE INFORMATION:
Company Contact:Jill C. BlumhoffChief Financial
OfficerPhone: 765.497.8381jblumhoff@BASinc.com
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