Inotiv, Inc. Announces the Acquisition of the Rabbit Breeding and Supply Business of Robinson Services Inc. (“RSI”)
January 06 2022 - 8:33AM
Inotiv, Inc. (NASDAQ: NOTV) (the “Company”, “We”, “Our” or
“Inotiv”), a leading contract research organization
specializing in nonclinical and analytical drug discovery and
development services and research models and related products and
services, today announced the acquisition of the rabbit breeding
and supply business of Robinson Services Inc. (“RSI”), a North
Carolina-based provider of high-quality animal models.
The acquisition is another step in Inotiv’s
strategic plan for building its Research Models and Services
(“RMS”) business. The acquisition consisted of the purchase of
certain assets used by RSI in the acquired business, including the
RSI customer list, a covenant not to compete from RSI and a
one-year supply agreement for rabbits to be provided by RSI to
Inotiv, which is subject to extension by mutual agreement. Inotiv
plans to consolidate the RSI business into existing Inotiv
facilities during 2022.
“The acquisition of RSI’s rabbit breeding capacity will enhance
our plan to optimize the global footprint of our RMS business,”
said Jim Harkness, Inotiv’s Chief Operating Officer, RMS. “We will
achieve our plans by leveraging existing capabilities and network
capacity to deliver the broadest range of options to our
clients.”
Kevin Robinson, RSI’s Chief Executive Officer
added, “After providing services and capabilities in this space for
over thirty-five years, we wanted to ensure exceptional,
uninterrupted service to our valued clients with our decision to
retire from this component of our business. I’m confident this
agreement with Inotiv will do exactly that, in addition to opening
the door for our clients to the full depth and breadth of Inotiv’s
comprehensive research and discovery solutions.”
About the Company
Inotiv, Inc. is a leading contract research
organization dedicated to providing nonclinical and analytical drug
discovery and development services and research models and related
products and services. The Company’s products and services focus on
bringing new drugs and medical devices through the discovery and
preclinical phases of development, all while increasing efficiency,
improving data, and reducing the cost of taking new drugs to
market. Inotiv is committed to supporting discovery and development
objectives as well as helping researchers realize the full
potential of their critical R&D projects, working together to
build a healthier and safer world. Further information about Inotiv
can be found here: https://www.inotivco.com/.
This release contains forward-looking statements
that are subject to risks and uncertainties including, but not
limited to, risks and uncertainties related to changes in the
market and demand for our products and services, the development,
marketing and sales of products and services, changes in
technology, industry and regulatory standards, the timing of
acquisitions and the successful closing, integration and business
and financial impact thereof, the impact of the COVID-19 pandemic
on the economy, demand for our services and products and our
operations, including the measures taken by governmental
authorities to address the pandemic, which may precipitate or
exacerbate other risks and/or uncertainties and various other
market and operating risks, including those detailed in the
Company's filings with the U.S. Securities and Exchange
Commission.
Company Contact |
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Investor Relations |
Inotiv, Inc. |
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The Equity Group Inc. |
Beth A. Taylor, Chief Financial Officer |
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Kalle Ahl, CFA |
(765) 497-8381 |
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(212) 836-9614 |
btaylor@inotivco.com |
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kahl@equityny.com |
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Devin Sullivan |
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(212) 836-9608 |
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dsullivan@equityny.com |
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