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Caliper Life Sciences to Acquire Cambridge Research & Instrumentation
Date:12/9/2010

imaging systems, we see an opportunity to leverage CRi's advanced multiplex technology towards unmet needs in a rapidly changing market, in this case the billion-dollar tissue imaging and digital pathology clinical research market.  With CRi's technologies in our toolkit, we will be able to offer a more comprehensive suite of tools and services to address the important emerging trend toward personalized medicine."

"We are delighted for CRi to join Caliper," said George Abe, President and CEO of CRi.  "Caliper's market leadership and extensive corporate relationships within the biotech and pharmaceutical industries, coupled with its rich culture of nurturing and commercializing innovative technologies, make Caliper the right partner to fully realize the market potential of CRi's portfolio of multiplexed imaging technologies."

Abe will join Caliper as Senior Vice President, Cellular & Tissue Analysis, reporting directly to Kevin Hrusovsky, Caliper's President and CEO.  In this role, Abe will be responsible for directing the growth and strategic direction of the tissue analysis business.

CRi's headquarters and manufacturing operations will be consolidated with Caliper's existing operations in Hopkinton, Mass.  The manufacturing relocation is expected to occur in mid-2011, at which time the CRi Woburn facility will be closed.  Approximately 75% of CRi's 49 employees will be offered continuing employment with Caliper.  Overall, Caliper expects to incur restructuring, integration, and initial capital investment costs of approximately $2.5 million, occurring mainly in 2011, in order to achieve anticipated business combination synergy cost benefits of between $2.5 - $3.0 million per year, which will be fully phased in by the end of 2011.  The transaction is expected to be EBITDA accretive in 2011.

CRi's multispectral imaging technology is revolutionizing the analysis of tissue samples. Over the last decade,
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SOURCE Caliper Life Sciences, Inc.
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