Charles River Laboratories International, Inc. has entered into a definitive agreement to acquire MPI Research for approximately $800 million in cash.

MPI is a non-clinical CRO providing testing services to biopharmaceutical and medical device companies worldwide. The acquisition expands Charles River’s client base, providing access to growing end markets, builds scale, and expands its service portfolio, adding ototoxicity and abuse liability capabilities, and capabilities in general toxicology and specialty toxicology, including ophthalmology, juvenile toxicity, molecular biology, and surgery, as well as medical device testing.

James C. Foster, chairman and chief executive officer of Charles River Laboratories, said, “In addition to meeting our disciplined acquisition criteria, MPI is an exceptional strategic fit for Charles River because it incorporates the key attributes we require in an acquisition: access to growing end markets, high-quality services, scientific expertise, and complementary capabilities. MPI’S one-million-square-foot, single-site facility in Michigan will provide needed capacity to meet current and future demand.”

For 2017, MPI is expected to generate annual revenue of approximately $240 million. The transaction, subject to customary closing conditions, is expected to close in 2Q18. The acquisition is expected to add $170 to $190 million to Charles River’s 2018 revenue, and $260 to $280 million to 2019 revenue. MPI is expected to be reported as part of Charles River’s Discovery and Safety Assessment segment.