Bioanalytical Systems, Inc. (BASi) has announced plans to restructure its bioanalytical laboratory operations, a move expected to reduce operating costs by more than $2 million annually.

BASi will consolidate its laboratory in McMinnville, OR into its 117,000-sq.-ft. headquarters facility in West Lafayette, IN. Additionally, the company is evaluating actions to improve the financial performance of its laboratory in Warwickshire, UK. The company expects to record a charge of approximately $1.9 million in its second fiscal quarter ending March 31, 2012 associated with the restructuring.

BASi president and chief executive officer Tony Chilton said, “BASi is known for providing outstanding bioanalytical services for our clients. By eliminating redundancies in expensive laboratory equipment and improving laboratory utilization, we expect this restructuring to strengthen our ability to meet our clients’ needs even as it dramatically reduces our operating costs.”

As part of the restructuring, Dr. Lori Payne, Ph.D., will move from general manager of the McMinnville laboratory to the role of vice president, Bioanalytical Operations, at the West Lafayette location. Dr. Payne joined BASi in 2003. Mr. Chiltom remarked, “Lori has done an outstanding job of improving efficiency and reducing costs at our Oregon facility, and we are excited to have her join our senior management team in this key position.”