CIT/ABC acquires assets of LAB Research Inc

1st April 2013

Applied Biology Company (ABC), the holding company of CIT Safety & Health Research Laboratories (CIT), a player among European preclinical CROs, has announced the purchase of substantially all of the assets of LAB Research Inc (LAB Research), consisting of three facilities located in Canada, Denmark and Hungary.
Through this acquisition, the newly created CIT-LAB group becomes one of the top five preclinical CROs, with consolidated sales of USD 103 million (EUR 74 million) and a staff of 830, spread over five sites in France (Evreux and Saint-Nazaire), Canada (Laval), Denmark (Lille Skensved) and Hungary (Veszprém). The financial details of the agreement were not disclosed.
CIT is an established player in the field of preclinical contract research with more than forty years of experience. The CIT-LAB group looks forward to fulfilling even more of the research outsourcing needs of its clients, especially in North America, thanks to LAB Research’s facilities based in Canada. The Scandinavian and Central Europe facilities are also a key asset since this broader geographical positioning will allow closer support for a larger number of customers, an important advantage for running projects successfully.
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