Charles River announces acquisition of Accugenix

Charles River Laboratories International, Inc. (NYSE: CRL) announced today that it has acquired Accugenix, Inc., the premier global provider of cGMP-compliant contract microbial identification testing, for approximately $17 million in cash. This acquisition strengthens Charles River's Endotoxin and Microbial Detection (EMD) portfolio of products and services by providing clients with state-of-the-art microbial detection services for manufacturing in the biopharmaceutical, medical device, nutraceutical and consumer care industries. The acquisition is expected to be neutral to earnings per share on both a GAAP and non-GAAP basis in 2012. In 2013, it is expected to represent approximately 1% of total net sales and be slightly accretive to both GAAP and non-GAAP earnings per share.

Accugenix is an acknowledged industry leader in species-level identification and strain typing of bacteria and fungi that are recovered from manufacturing facilities. The company has invested in proprietary library databases which allow it to identify over 5,000 species of organisms. Utilizing state-of-the-art and proprietary in vitro technologies, coupled with scientific expertise and analysis, Accugenix excels in providing accurate, time-effective and cost-effective microbial identification services required to meet internal quality standards and government regulations.

James C. Foster, Chairman, President and Chief Executive Officer of Charles River said, "The acquisition of Accugenix is the first step in our broader strategy to become the premier provider of rapid microbial and endotoxin detection products and services to the biopharmaceutical industry. Over the next several years, we intend to enhance our capabilities through both product extensions and acquisitions. We believe that execution of this strategy will advance our position as the market leader in endotoxin and microbial detection."