Canadian Medical near U.S. research unit acquisition

Article Abstract:

Canadian Medical Laboratories Ltd., a Toronto, Ontario-based medical laboratory company, is close to completing an acquisition deal with Summit Research Network of Portland, OR. Under the terms of the deal, Canadian Medical will purchase a 55% interest in Summit for C$13.6 million. The deal would enable Canadian Medical to make a significant entry into the US clinical research market. Canadian Medical President and Chief Executive Officer John Mull said Summit's role is to serve as a base for further acquisitions that would eventually make Canadian Medical a chief player in the consolidation of site management organizations, SMOs. Summit performs central management functions for its four clinics in Portland; Denver, CO; and Detroit and Okemos, MI.

Comment:

Is close to completing its C$ 13.6 mil acquisition of 55% interest in Summit Research Network of Portland, OR

Asset sales & divestitures, Acquisitions & mergers, Research & Development, Scientific Research and Development Services, Ontario, Oregon, R&D Facilities, Research institutes, Laboratories, Summit Research Network, Canadian Medical Laboratories Ltd.

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BioChem to target major acquisition, likely in U.S

Article Abstract:

BioChem Pharma Inc., a Montreal, Quebec-based company, is looking to acquire a company that could be worth up to C$1 billion, as part of its goal to become an international integrated pharmaceutical firm. Initially, BioChem may acquire a US company, although it is also interested in expanding in Europe. BioChem Chief Executive Officer Francesco Bellini said the company intends to stay and expand in fields such as cancer, antiviral and antibacterial because it is where the money is. Gradually, the company will get out of the diagnostic business, in which BioChem makes medical instruments, tests and kits. An acquisition deal is likely to happen in 1999, according to Bellini.

Comment:

Is looking to acquire a co that could be worth up to C$1 bil, as part of its goal to become an intnl integrated pharma firm

Strategy & planning, Biological Product (except Diagnostic) Manufacturing, Biological Products, Quebec, Shire BioChem Inc.

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