Charles River buys imaging company for $12.5M

By Associated Press
September 15, 2008 | Comments (0)

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Charles River Laboratories International Inc. has bought Molecular Imaging Research Inc. for about $12.5 million in cash, the company said Monday.

Molecular Imaging Research, or MIR Preclinical Services, is based in Ann Arbor, Mich. The privately held company provides imaging and other services to pharmaceutical and biotechnology clients and has expertise in oncology and inflammation.

Charles River Discovery Services, which provides services to evaluate the efficacy of compounds, said that with the acquisition it will have expertise in four key therapeutic areas including metabolic and cardiovascular diseases and oncology and inflammation.

Shares of Charles River fell $1.31, or 2 percent, to close at $63.35 on Monday.

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