MACKINAC ISLAND — It’s been nearly one year since Kalamazoo became a “laboratory” for a new form of philanthropy-backed municipal finance.
MATTAWAN — The proposed sale of MPI Research Inc. to Charles River Laboratories International Inc. for $800 million would end local ownership for a company that’s one of the largest employers in the greater Kalamazoo area.
MPI Research Inc. is selling to rival Charles River Laboratories International Inc. for $800 million in cash.
KALAMAZOO — About a year ago, William Johnston and Bill Parfet, two local businessmen with long-time connections to Southwest Michigan, approached the city of Kalamazoo with a potentially transformational proposal.
If Mark Gurney can’t find the capital he needs in Michigan, his drug development firm is poised to look for it elsewhere.
In a message to suppliers and study sponsors announcing his retirement, the 69-year-old Parfet, who founded the company 20 years ago, wrote that the Mattawan-based MPI Research will soon become the fourth largest pre-clinical contract research organization with about 1,300 employees and annual revenues of nearly $200 million.