SeraCare Life Sciences Acquires KPL
Expands Product Offering for Diagnostics Research
Milford, Massachusetts, August 19, 2013 – SeraCare Life Sciences, a leader in life science products for the diagnostic industry, has acquired Kirkegaard & Perry Laboratories (KPL). KPL is a leading provider of antibodies and related reagents for the diagnostic and life sciences markets. With the acquisition, SeraCare has expanded its portfolio of products designed to help diagnostic researchers develop innovative in vitro diagnostic assays through both off-the-shelf products and custom antibody design.
“The diagnostics industry requires high quality materials for use in assay design, development of components for regulated kits, and validation of these products as they move from the laboratory to the clinic,” said Charles Mamrak, CEO of SeraCare. “SeraCare strives to facilitate its customers’ product development efforts, allowing researchers to focus on the science, specifically the design and launch of cutting-edge new assays. The addition of KPL will enable SeraCare to more fully meet the needs of these diagnostic researchers, fueling their innovation by providing reliable and qualified materials for use in these assays.”
By acquiring KPL, SeraCare has built upon its leading position as a life science consumables provider for diagnostic research. KPL’s portfolio of products includes high quality immunochemicals for in vitro diagnostics, including primary and secondary antibodies as well as reagents and kits targeting ELISA, western blotting, immunohistology, protein labeling, nucleic acid labeling, sample preparation, protein purification, and recombinant protein detection and analysis. These products will support SeraCare’s expansion from its core strength of providing biological products and control materials for infectious disease, women’s health, and genetic testing into oncology, autoimmune, allergy and companion diagnostics.
“SeraCare is an ideal fit for KPL, bringing two product offerings together under one company, and positioning us well to reach a broader audience within the diagnostic market,” said Albert Perry, President and CEO of KPL. “Our product portfolios, research and development, and manufacturing expertise are complementary and will enable us to deliver a full suite of capabilities to the diagnostics market.”
SeraCare secured funding for the acquisition and refinanced its existing debt with Madison Capital Funding and BB&T Capital Partners. This new financing relationship strengthens SeraCare’s capital base for future growth both organically and through additional acquisitions. Kirkland & Ellis LLP provided legal advice to SeraCare for the transaction.
About SeraCare Life Sciences, Inc.
SeraCare, a portfolio company of Linden Capital Partners, works with diagnostics researchers, IVD manufacturers, and clinical laboratories to shape the future of medical diagnostics. Our innovative portfolio includes ACCURUN® quality controls, AccuTrak™, AccuSpan™, AccuSet™ and AccuVert™ panels, SeraCon™ processed plasma, specialty human blood products, and Complete BioCollections™ materials. SeraCare helps bridge the gap between today’s diagnostic solutions and tomorrow’s emerging technologies for molecular diagnostics, next generation sequencing, and companion diagnostics. For more information, visit www.seracare.com.
About Linden Capital Partners
Linden Capital Partners is a Chicago-based private equity firm focused exclusively on leveraged buyouts in the healthcare and life science industries. Linden's strategy is based upon three elements: i) healthcare and life science industry specialization, ii) integrated private equity and operating expertise, and iii) strategic relationships with large corporations. Linden invests in middle market platforms in the medical products, specialty distribution, and services segments of healthcare.
KPL was founded in 1979 to develop, manufacture, and market high quality immunochemicals for life science and in vitro diagnostics. KPL was the first company to commercialize affinity purified secondary antibodies, a valuable tool for biological research and in vitro diagnostic testing. Since then KPL has introduced over 800 reagents and complete assay kits for protein visualization and nucleic acid detection that address the needs of cell biology, immunology, protein chemistry, and molecular biology scientists. For more information, visit www.kpl.com.
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