Overview
Fisher Scientific International Inc. (NYSE: FSH) announced on April 11, 2006, that it has entered into a definitive agreement to acquire privately held Clintrak Pharmaceutical Services, a leading provider of clinical-trial label generation and supply-chain management services, for $125 million in cash from a group of investors led by Bear Growth Capital Partners.
Fisher is funding the acquisitions with cash-on-hand and bank borrowings.
Significance
The acquisition of Clintrak Pharmaceutical Services will not only enhance Fisher’s existing biopharma services offering, which includes a full range of clinical-trial materials, logistics, analytical testing and bio-specimen management services, but also add complementary expertise in the area of complex clinical-trial labeling services.
The company expects the acquisitions will have no effect on its 2006 earnings per share and that they will be accretive in 2007.
Crosstree’s Role
Crosstree Capital Partners was the exclusive financial advisor for Clintrak Pharmaceutical Services.
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