fyi, news released...Gordon
Monday May 3, 12:17 pm Eastern Time
Company Press Release
Biopool International Announces Sale of BCA
Division
VENTURA, Calif.--(BUSINESS WIRE)--May 3, 1999--Biopool International Inc.
(Nasdaq:BIPL - news) Monday announced that effective April 30, 1999, the company
completed the transaction to sell its immunohematology (blood bank reagent) business to
Immucor Inc. (Nasdaq:BLUD - news) of Norcross, Ga.
The Asset Purchase Agreement resulted in a cash payment of $4.45 million, subject to certain adjustments that may be upward
or downward based upon actual assets transferred. Biopool has retained ownership of the plant, property, and equipment in
the West Chester, Pa., facility and will operate the facility on behalf of Immucor during a transition period.
As previously reported, Biopool expects to generate significant liquidity with this cash sale and by realizing additional cash from
the sale of its West Chester facility in the coming months.
Immucor, founded in 1982, manufactures and sells a complete line of reagents and systems used by hospitals, reference
laboratories and donor centers to detect and identify certain properties of the cell and serum components of blood prior to
transfusion. Immucor markets a complete family of automated instrumentation for all of its market segments.
Founded in 1987, Biopool International develops, manufactures, and markets a full range of test kits to assess and diagnose
disorders of blood coagulation, thrombotic risk factors, fibrinolysis, platelet function, and the vascular system and specialty
toxicology controls used to monitor and measure the presence of drugs of abuse.
The company's product line is sold to hospitals, clinical laboratories, commercial reference laboratories, and research
institutions on a worldwide basis by the company's own sales representatives, as well as through an extensive network of
distributors. To learn more about Biopool, visit the company's Web site at biopool.com.
This news release contains forward-looking statements regarding the generation of significant liquidity, which are based upon
current expectations that involve a number of risks and uncertainties including, but not limited to, technological innovations of
competitors, changes in health care regulations, litigation claims, foreign currency fluctuation, product acceptance or changes in
government regulation of the company's products, as well as other factors discussed in the company's last report on Form
10-K-SB under ''Risk Factors.'' |
