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On Assignment acquires Valesta for $17.6M

On Assignment acquires Valesta for $17.6M

On Assignment Inc. has announced that it is buying Valesta, a European provider of specialized staffing in clinical research, for approximately $17.6 million with an opportunity to earn an additional $7.1 million over three years.

The company said the acquisition expands its presence internationally and enhances its services within the life sciences sector. On Assignment expects the acquisition will boost earnings per share this year.

Valesta is headquartered in Mechelen, Belgium and has offices in Spain and The Netherlands.

On Assignment plans to use cash and its senior credit facility to finance the deal.

The transaction is expected to close Monday.

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