To better target its efforts to the IVD market, SeraCare Life Sciences, a portfolio company of Linden Capital Partners serving both the IVD and clinical-laboratory markets, has sold its biorepository, biobanking, and laboratory services business to Precision Health Holdings Inc.
The transaction includes the transfer of biorepository assets and employees. Financial terms of the transaction were not disclosed.
SeraCare Life Sciences has reorganized into three market-based commercial business units: IVD Research, IVD Processing, and Clinical Laboratory. The new structure is designed to "deliver greater insight into customer needs while streamlining business processes," according to the company. In addition, SeraCare has hired five new key executives to lead the company’s commercial business units as well as operations, research and development, and quality organizations.
“Our industry is entering a period of great change as new diagnostics technologies enable an unprecedented level of personalized medicine,” said Charles Mamrak, CEO of SeraCare. “Our customers need our help in turning these changes into business opportunities. Allowing our customer-facing personnel to focus on a single, key market will make it easier for them to anticipate and meet these customers’ needs.”