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Caliper Completes Acquisition of CRI

By a GenomeWeb staff reporter

NEW YORK (GenomeWeb News) – Caliper Life Sciences today said that it has completed the acquisition of privately held Cambridge Research & Instrumentation for approximately $20 million.

Caliper announced the deal to acquire the Woburn, Mass.-based firm two weeks ago. The acquisition expands Caliper's life sciences tools portfolio in clinical research, pathology, and clinical market applications.

Caliper paid approximately $7.9 million in cash, $10.3 million in stock, and assumed around $1.8 million of debt. The common stock portion included issuing around 1.6 million shares of its common stock.

"CRi's products provide an entry point for Caliper to address the expanding billion-dollar tissue imaging and digital pathology clinical research market," Caliper President and CEO Kevin Hrusovsky said in a statement. "In addition, CRi's technologies enhance our toolkit of proprietary technologies for creating new product solutions to advance our vision to transform 'sick care' to 'health care' through next-generation biomarker discovery, patient stratification studies, and companion diagnostics for personalized medicine."

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