SeraCare Life Sciences acquires KPL
Move is seen as a way to expand product offering for diagnostics research
MILFORD, Mass.—SeraCare Life Sciences, which deals in life science products for the diagnostic industry, hasacquired Kirkegaard & Perry Laboratories (KPL), which it describes as "a leadingprovider of antibodies and related reagents for the diagnostic and lifesciences markets."
With the acquisition, SeraCare is expanding itsportfolio of products designed to help diagnostic researchers developinnovative in-vitro diagnostic assays through both off-the-shelfproducts and custom antibody design.
"The diagnostics industry requires high-quality materials for use inassay design, development of components for regulated kits, andvalidation of these products as they move from the laboratory to theclinic," said Charles Mamrak, CEO of SeraCare. "SeraCare strives tofacilitate its customers' product development efforts, allowingresearchers to focus on the science, specifically the design and launchof cutting-edge new assays. The addition of KPL will enable SeraCare tomore fully meet the needs of these diagnostic researchers, fueling theirinnovation by providing reliable and qualified materials for use inthese assays."
KPL's portfolioof products includes immunochemicals for in-vitrodiagnostics, including primary and secondary antibodies as well asreagents and kits targeting ELISA, Western blotting, immunohistology,protein labeling, nucleic acid labeling, sample preparation, proteinpurification and recombinant protein detection and analysis.
Theseproducts reportedly "will support SeraCare's expansion from its core strength ofproviding biological products and control materials for infectiousdisease, women's health, and genetic testing into oncology, autoimmune,allergy and companion diagnostics," according to SeraCare
"SeraCare is an ideal fit for KPL, bringing two product offeringstogether under one company, and positioning us well to reach a broaderaudience within the diagnostic market," said Albert Perry, president andCEO of KPL. "Our product portfolios, research and development, andmanufacturing expertise are complementary and will enable us to deliver afull suite of capabilities to the diagnostics market."
SeraCare secured funding for the acquisition and refinanced its existingdebt with Madison Capital Funding and BB&T Capital Partners, and the company said thisnew financing relationship strengthens SeraCare's capital base forfuture growth both organically and through additional acquisitions.