Solvias Acquires Chemic Labs

Solvias, an analytical testing, contract research, development and manufacturing company, has acquired Chemic Laboratories, Inc. based in Canton, MA. The acquisition provides Solvias with a strong presence in the U.S. and highly complementary lab testing capabilities. Financial terms were not disclosed.

Chemic expands Solvias' global presence and portfolio of integrated testing and analytical services.

Chemic is Solvias' first acquisition since partnering with health care investors Water Street Healthcare Partners and JLL Partners in June 2020 to strategically grow the company. Solvias has since recruited industry leaders to join its board and began a program to significantly upgrade and expand its information technology platform and infrastructure to support further global expansion plans. The company is pursuing organic investments and acquisitions to add specialized capabilities to support clients in the growing areas of biologics and cell & gene therapies.

Joseph St. Laurent, co-founder, president and chief scientific officer, Chemic, said, "In the 20+ years we have grown Chemic, Solvias is the only organization we have encountered that shares our vision and has the team to build a world-renowned organization. Solvias is highly regarded for its scientific expertise, innovation and outstanding customer service. Together, we share a deep-seated commitment to our clients and complementary scientific knowledge and analytical services on a global scale."

Scott A. Goodrich, co-founder and site head, Chemic, added, "This is a great opportunity to further expand our offering in the Boston area, United States and beyond."

Karen Huebscher, Ph.D., chief executive officer, Solvias, said, "We are making great progress toward our goal of building Solvias into a global leader at the forefront of our industry. In a short amount of time, we have grown our teams, advanced organic initiatives and completed a strategic acquisition. Our combination with Chemic provides us with an important presence in the United States and extends our scientific capabilities to meaningfully benefit our customers and our mission of helping them bring safer and better products to market faster."

Chemic's co-founders, St. Laurent and Goodrich, will join Solvias' leadership team and continue to lead operations in the U.S. They also will continue to operate Chemic's product development businesses as separate entities.