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Charles River acquires biological services provider HemaCare for $380M

Charles River Laboratories International Inc. completed the acquisition of biological services provider HemaCare Corp. for about $380 million in cash, equivalent to $25.40 per HemaCare share.

HemaCare produces human cellular products, which support medical research and drug development, for use in the cell therapy market. Charles River said the acquisition will complement its portfolio of early-stage research and manufacturing products and increase revenue by at least 30% annually over the next five years.