Core Insights - Registrar Corp has acquired CMC Medical Devices, enhancing its capabilities in clinical, regulatory, and compliance services for medical device manufacturers [1][2] - The acquisition aims to integrate Registrar Corp's network with CMC's offerings, facilitating a combined service to assist companies in navigating regulatory frameworks [2][4] - This development is expected to ease global expansion for manufacturers by minimizing expenses, challenges, and timelines associated with regulatory compliance [4] Group 1: Acquisition Details - Registrar Corp acquired CMC Medical Devices, a company based in Spain, specializing in clinical and regulatory services [1] - CMC operates in over 70 countries, focusing on Medical Device Regulation (MDR) and In Vitro Diagnostic Regulation (IVDR) compliance [1][3] Group 2: Service Integration - The acquisition allows Registrar Corp to provide services as an authorized representative in multiple regions, including Australia, China, the US, the UK, the EU, and Switzerland [2] - Registrar Corp will manage Free Sale Certificates, streamlining export documentation and supporting quicker product approvals [3] Group 3: Benefits to Manufacturers - The combined services will support medical device and IVD firms throughout all phases of product compliance and commercialization [5] - CMC's clinical network enables Registrar Corp to offer additional services such as data gathering plans and post-market clinical follow-up reporting [3][5]

Q1 2025 Financial Performance - Q1 2025 revenue reached $662 million, reflecting a 7% growth in constant currency[6] - Recurring revenue experienced an 11% growth in constant currency[6] - Instrument sales increased by 4% as reported and 11% in constant currency[6] - Non-GAAP EPS for Q1 2025 was $2.25, a 2% increase, with a 7% growth in constant currency[6] Growth Drivers and Market Segmentation - Instrument sales showed strong growth, with Pharma up 14%, Industrial up 10%, and Academic & Government up 7% in constant currency[9] - Asia showed the strongest geographic growth at 13%, followed by the Americas at 6%, and Europe at 1% in constant currency[19] - Waters segment grew 8% while TA segment grew 1%[19] Innovation and Idiosyncratic Growth - Next-Gen Flagship HPLC sales grew over 3 times year-over-year, representing approximately 20% of HPLC sales[14] - Waters Xevo TQ Absolute sales grew 56% year-over-year[14] - QA/QC testing of GLP-1 drugs is expected to contribute an average 30bps growth annually from 2024 to 2030[15] - PFAS testing is a $400 million global market, estimated to grow approximately 20%[15] FY & Q2 2025 Guidance - The company projects constant currency revenue growth of +5% to +7% for FY 2025 and Q2 2025[21] - The company projects Non-GAAP EPS of $12.75 to $13.05 for FY 2025 and $2.88 to $2.98 for Q2 2025[21]