The Smithers Avanza Toxicology Services Business Unit Acquired by Bioanalytical Systems, Inc. “BASi”
AKRON, Ohio--(BUSINESS WIRE)--May 1, 2019--The Smithers Avanza Toxicology Services business unit in Gaithersburg, MD, a boutique contract research organization (CRO) specializing in general toxicology, vaccine safety and developmental and reproductive toxicology (DART), announced today that it will be acquired by Bioanalytical Systems, Inc. (NASDAQ:BASI) (“BASi” or the “Company”). The Smithers Avanza Bioanalytical Services business is not included in this sale.
“Selling a business unit is never an easy decision, but we recognized that the scope and scale of BASi coupled with our team’s scientific expertise would benefit our clients and team tremendously. Operating as a single site toxicology business presented operational efficiency challenges that could only be overcome with the added sites and in-house capabilities of BASi,” said Michael Hochschwender, President and Chief Executive Officer, The Smithers Group, Inc. “We are very proud of the accomplishments and reputation of the Gaithersburg Toxicology Services team. We are thankful to our loyal clients who supported this business and are confident they will enjoy a seamless transition to BASi.”
Robert Leasure, Jr., BASi’s President and Chief Executive Officer, commented, “The acquisition of the Smithers Avanza Toxicology Services business unit solidly supports BASi’s vision of strategic growth. With strong demand for our services, we needed to add space and talent. The team that is joining us from Smithers in Gaithersburg will allow us to provide more resources to our clients, while remaining small enough to be flexible and responsive. Not only will the Gaithersburg site provide increased capacity for routine safety assessment, we also gain significant expertise in developmental and reproductive toxicology.”
The Smithers Group is an independent global leader in delivering trusted solutions by integrating science, technology, and business expertise. Our companies are innovative in adding value throughout the life cycle of our clients’ products, utilizing testing, consulting, information, and compliance services. We are committed to delivering accurate data, on time, with high-touch.
Each of our companies specializes in technology-based services, and focuses on defined, manageable markets. Their niche market strategy fosters stability and longevity and enables them to leverage their technical and brand equity to compete effectively on a global basis.
Important: This divestiture does not include the large molecule bioanalytical services division known as Smithers Avanza Bioanalytical Services, LLC.
For more information about the Smithers portfolio of services, visit https://www.smithers.com/.
View source version on businesswire.com:https://www.businesswire.com/news/home/20190501005633/en/
CONTACT: Smithers Contact:
David L. Schwarz
Vice President, Marketing & Strategic Planning
Jill C. Blumhoff
Chief Financial Officer
KEYWORD: UNITED STATES NORTH AMERICA INDIANA MARYLAND OHIO
INDUSTRY KEYWORD: HEALTH BIOTECHNOLOGY HOSPITALS INFECTIOUS DISEASES PHARMACEUTICAL RADIOLOGY OTHER HEALTH RESEARCH OTHER SCIENCE SCIENCE MANAGED CARE
SOURCE: Smithers Avanza
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PUB: 05/01/2019 09:32 AM/DISC: 05/01/2019 09:32 AM