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Charles River (CRAI) Announces bioStrategies Acquisition

Charles River Associates CRAI have had an impressive run in the past month. The stock gained 20.5%, significantly outperforming the 5.7% rise of the industry it belongs to and the 5.4% rally of the Zacks S&P 500 composite.

Charles River Associates Price

Charles River Associates Price
Charles River Associates Price

Charles River Associates price | Charles River Associates Quote

The company yesterday announced that it has acquired Chicago-based consulting firm, bioStrategies Group, which specializes in developing commercial strategies for new and existing healthcare products and technologies, and is now a part of Charles River’s Life Sciences Practice.

The transaction was completed on Nov 29, with Charles River buying all of the assets of bioStrategies and adding 17 employees including Chris Schneider and Mike Kaestle. Both are now vice presidents at CRAI’s Life Sciences Practice.

Charles River’s Benefits

The acquisition expands Charles River’s geographic presence and adds to its already strong team of highly qualified senior officials who are focused on generating balanced and profitable growth across the organization through optimum organic and inorganic means, strengthening client relationships and simplifying internal processes.

"I look forward to working with Mike and Chris, both of whom have the kind of institutional knowledge and subject matter expertise that our clients rely on to help them anticipate trends and break through strategic barriers," said CRA’s Life Sciences Practice Leader and Vice President, Gregory K. Bell. "Furthermore, they are bringing a strong team of experienced consultants and we look forward to collaborating with them in addressing our clients’ most critical needs," he added.

Zacks Rank and Stocks to Consider

Charles River currently carries a Zacks Rank #3 (Hold). You can seethe complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Some better-ranked stocks in the broader Zacks Business Services sector are Booz Allen Hamilton Holding Corporation BAH and Cross Country Healthcare, Inc. CCRN.

Booz Allencarries a Zacks Rank #2 (Buy) at present. BAH has a long-term earnings growth expectation of 8.9%.

Booz Allen delivered a trailing four-quarter earnings surprise of 8.8% on average.

Cross Country Healthcare is currently a Zacks #2 Ranked stock. CCRN has a long-term earnings growth expectation of 6%.

CCRN delivered a trailing four-quarter earnings surprise of 10.1% on average.

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