CANTEST Acquires Specialty Analytical Laboratory
News Apr 06, 2006
CANTEST Ltd. has announced the acquisition of Elemental Research Inc. (ERI), a highly-specialized, North Vancouver-based laboratory, which primarily services the pharmaceutical market.
The acquisition of ERI is another step in the significant expansion program CANTEST's BioPharma Services group has been undergoing. It was preceded by a $1.5 Million investment in two API 5000 LC-MS/MS™systems in January, the acquisition of controlling interest in Prime Trials, a clinical trial facility, in February and the establishment of a Biopharmaceutics group in March.
"ERI augments our BioPharma Services group by increasing the capacity within our bioanalytical group and allowing us to offer material science testing services to those in the pharmaceutical, medical device and packaging sectors." says Don Enns, President and CEO of CANTEST.
"The capabilities added can also be utilized in other lines of our business, which will accelerate our growth and go hand-in-hand with the expansion of our existing facility in
We are pleased that Dr. David Gray, former President of ERI, has agreed
to join CANTEST as Laboratory Director for the BioPharma Services group. He will support the integration of the two organizations and oversee the
day-to-day functions of the division."
"ERI's corporate values of continuous improvement, regulatory compliance, technical innovation and client satisfaction are mirrored in CANTEST's corporate philosophy, and I'm very confident that the merging of the two entities will clearly benefit those we serve." adds Dr. Gray.