NEW YORK (GenomeWeb News) – SeraCare Life Sciences has signed a definitive agreement to be acquired by private equity firm Linden Capital Partners for $4 per share, or around $82 million.
The purchase price represents a 25 percent premium to the 30-day volume-weighted average stock price of SeraCare. The Milford, Mass.-based firm, which makes life sciences tools including molecular biomarkers and controls, would become a private company, wholly owned by Linden.
SeraCare said that its board of directors has unanimously approved the deal. The firm also intends to hold a special meeting of shareholders for approval of the transaction, and if it gains that approval it expects to close the deal in the second quarter.
"Linden is a natural strategic fit for SeraCare with a proven record of operating successful companies in the healthcare and life sciences sectors," Greg Gould, interim president, CEO, and CFO of SeraCare, said in a statement. "Linden's acquisition of SeraCare recognizes our accomplishments and translates them into significant value for our shareholders."
In early Monday trade on the Nasdaq, shares of SeraCare climbed 10 percent to $3.93. Its 52-week high is $4.48.