Harlan Holdings Ltd. acquired Israeli Businesses from Inotiv, Inc. for $3.7 million.
August 28, 2023
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Harlan Holdings Ltd. acquired Israeli Businesses from Inotiv, Inc. on August 29, 2023. The sale includes Inotiv's 100.00% ownership in Israel RMS and Israel RMS?s 62.50% ownership interest in Israel CRS. Inotiv received cash of approximately $1.2 million, including an adjustment for the cash balance at the closing of the sale, a note receivable of approximately $2.5 million, including an adjustment for certain reimbursed costs, to be paid in two annual installments on the first and second anniversaries of the closing, and ownership of the Teklad diet manufacturing facility in the U.S., which the Company previously leased, as part of the consideration received for this sale.
Harlan Holdings Ltd. completed the acquisition Israeli Businesses from Inotiv, Inc. for $7.5 million on August 29, 2023. Consideration for the sale consisted of $1 million in cash, an excess cash adjustment of $0.316 million, real property valued at $3.7 million and a promissory note receivable in the aggregate amount of $2.45 million, with quarterly payments of interest and principal payments on the first anniversary of the closing date.
Inotiv, Inc. is a contract research company, which is engaged in providing nonclinical and analytical drug discovery and development services to the pharmaceutical and medical device industries and selling a range of research-quality animals and diets to the same industries, as well as academia and government clients. Its products and services focus on bringing new drugs and medical devices through the discovery and preclinical phases of development. It operates through two segments: Discovery and Safety Assessment (DSA) and Research Models and Services (RMS). The DSA segment supports the discovery, nonclinical development and clinical development needs of researchers and clinicians for primarily small molecule drug candidates, as well as biotherapeutics and biomedical devices. The RMS segment offer access to a range of small and large research models for basic research and drug discovery and development, as well as specialized models for specific diseases and therapeutic areas.
INOTIV, INC. 
