Professional staffing provider On Assignment Inc. on Monday said it acquired Sharpstream, a provider of search services for executive and middle managers in the life sciences industry, for $5.5 million.

The Calabasas company, which specializes in the life sciences industry, said London-based Sharpstream expands its business into the United Kingdom and Northern Europe and enables it to enter the Asia and Latin America markets.

“We view this acquisition as an opportunity to enhance our life sciences offerings and to further expand our global presence,” said Chief Executive Peter Dameris in a statement. “We hope to use (Sharpstream’s) Shanghai office as a base of operations (in Asia).”

Sharpstream had about $5 million in revenue last year. The deal includes a two year earn-out provision. Sharpstream Chief Executive Martin Reynolds and other officials will stay with the company.

On Assignment shares were down 1 cent, or less than a percent, to $4.42 in midday trading in the Nasdaq,