Breaking News From Pharma & Bio Ingredients
SeraCare Acquires Serological's Celliance Assets
Posted on 2005-11-29 12:24:00
SeraCare Life Sciences, Inc. today announced that it has signed an agreement to purchase the Milford, MA diagnostic manufacturing facilities and product lines of the Celliance subsidiary of Serologicals Corporation for $3.7 million in cash plus the assumption of certain liabilities.
Michael F. Crowley, Jr., President and CEO of SeraCare Life Sciences said, "This acquisition will increase our portfolio of products in the areas of molecular diagnostic reagents, diagnostic intermediates and substrates. In connection with this acquisition, we will assume the lease on Celliance's state of the art manufacturing, storage and distribution facility located near our West Bridgewater manufacturing site. We believe the proximity of these two diagnostic manufacturing facilities will allow us to achieve synergies in the areas of manufacturing, staffing and distribution."
SeraCare expects the acquisition to be accretive to earnings by the first fiscal quarter following the closing of the acquisition, which, subject to the satisfaction of customary closing conditions, is expected to be completed in January 2006.
Subscribe via RSS
