Fisher Scientific To Acquire Clintrak
Hampton Union, Friday, April 14, 2006
[The following article is courtesy of the Hampton Union and Seacoast Online.]
HAMPTON (AP) - Fisher Scientific International Inc., a distributor of scientific equipment and instruments, said it will acquire Clintrak Pharmaceutical Services for $125 million in cash from a group of investors, including Bear Growth Capital Partners.
Clintrak, a provider of clinical-trial printing services, had 2005 revenue of about $31 million. The acquisition is expected to close in the second quarter, Fisher officials said.
Fisher also acquired TC Tech, a supplier of sterile fluid-handling bags and fluid transfer components. Terms were not disclosed.
Fisher is funding the acquisitions with cash-on-hand and bank borrowings. The company does not expect the acquisitions to affect 2006 earnings per share and to be accretive, or growing in size by external addition, in 2007.
Shares of Fisher fell 2 cents to close at $67.23 on the New York Stock Exchange.