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SeraCare Divests Biorepository, Biobanking Businesses

NEW YORK (GenomeWeb News) – SeraCare Life Sciences announced late on Thursday a reorganization of its business after selling off certain segments.

The Milford, Mass.-based firm sold its biorepository, biobanking, and laboratory services business to Precision Health Holdings for an undisclosed amount and restructured its operations into three units — IVD Research, IVD Processing, and Clinical Laboratory.

The new structure of the company, it said, will "deliver greater insight into customer needs while streamlining business processes."

"The sale of our biorepository business is an important element in our growth strategy for SeraCare," CEO Charles Mamrak said in a statement. "We can now more freely serve our growing customer base in the in vitro diagnostics market and execute on our mission of improving quality of life by advancing a global understanding of disease."

Private equity firm Linden Capital Partners acquired SeraCare in 2012 for about $82 million.

Based in Chevy Chase, Md., Precision Health Holdings provides biorepository and biobanking services, AccuCell products, and some laboratory services.

As part of its reorganization, SeraCare announced new executive appointments. Russell Garlick joins the company as chief scientific officer; Cheri Walker is the chief commercial officer and will act as the head of the IVD research and clinical laboratory business units and oversee corporate development; Ann McCormick is the chief operating officer; Joe Kozma is vice president of IVD Process Solutions; and Lisa Alexander is vice president of Quality and Regulatory.