Adicon Holdings Limited has entered into a definitive agreement to acquire Crown Bioscience International from JSR Life Sciences for $204 million, enhancing its capabilities in the global CRO market and positioning itself as a leader in integrated laboratory services.

Information on the Target

Adicon Holdings Limited (HKEX: 9860.HK) is a prominent independent clinical laboratory service provider based in China. The company offers a wide range of diagnostic testing services to hospitals, health check centers, and biopharmaceutical companies through an extensive network of self-operated laboratories across the country. Adicon's portfolio includes routine and specialized tests across various disease categories, underpinned by internationally accredited laboratories that adhere to ISO15189 standards. The company's commitment to operational excellence and quality assurance has established it as a trusted partner in the advancement of precision diagnostics within China.

Company Overview

Crown Bioscience, a subsidiary of JSR Life Sciences, operates as a global contract research organization (CRO) specializing in the fields of oncology and immuno-oncology. The company is dedicated to assisting biotech and pharmaceutical firms in drug discovery and development by providing customized solutions spanning from preclinical research to clinical trial support. Crown Bioscience boasts the largest collection of patient-derived xenograft (PDX) models commercially available, along with a comprehensive array of tumor organoid models. Their operations extend across multiple countries, including robust facilities in the US, Europe, and the Asia-Pacific region, which meet the highest industry standards.

Industry Overview in China

The clinical laboratory industry in China has experienced significant growth, driven by an increasing demand for precision diagnostics amid an evolving healthcare landscape. As the Chinese population ages and chronic diseases become more prevalent, there is an urgent need for advanced d