“With the addition of Xenometrics, CiToxLAB Group has consolidated revenues of $148 million and a staff of 1,200, in France, Canada, Hungary, Denmark, and now the United States.” – McGuigan. Silicon Prairie News. 2017.
In nature, we often see symbiotic relationships between animal species. We sometimes see mutually beneficial relationships in the Kansas City business world, as well. For example, the acquisition of Xenometrics by Citoxlab was beneficial to both organizations.
Acquiring Xenometrics adds to the success of Citoxlab by strengthening its position in the United States.
“We were actively looking for an investment opportunity in the US as part of our growth strategy. This is important to better serve our US clients and I am very happy that we have identified the right opportunity with Xenometrics and successfully closed this acquisition,” said Citoxlab Group’s chairman and CEO, Jean-Francois Le Bigot, in the 2017 Citoxlab press release announcing the acquisition.
Being acquired by Citoxlab also added to the successful reputation of Xenometrics. In the press release, Xenometrics founder and CEO, Alfred Botchway, said of Citoxlab:
“We have been well aware of their excellent reputation as a science-driven CRO. In addition to this, I also realized that they have an impressive long-term development strategy, which is rare nowadays. We are very confident that joining the Citoxlab Group is a true opportunity for the future development of Xenometrics and its staff.”
Both Xenometrics and Citoxlab benefitted from their partnership. Orbis Biosciences® knows relationships are important. Orbis will continue to build relationships within the industry, to learn from other organizations and collaborate with them in return.