Biopool Acquires Blood Analysis Product Line

Biopool International in Ventura has completed its previously announced acquisition of the blood group serology business from Organon Teknika Corp.

Organon Teknika is a business unit of Akzo Nobel, with headquarters in the Netherlands.

The acquired business will be known as the BCA division of Biopool and will operate out of its current 36,000-square-foot facility in West Chester, Pa.

BCA currently includes 50 workers at the Pennsylvania location and 10 outside employees dedicated to sales, marketing and technical service for BCA products. Other assets that were acquired by Biopool include equipment, technology and certain cell lines used in the BCA business.

The acquisition was structured as an asset purchase, with total consideration of $4.5 million paid in cash at closing on Dec. 31. Funding of the purchase price was provided through a $3.5-million loan and private placement of 500,000 shares of common stock.

The BCA line consists of more than 75 products used by blood-bank facilities in hospitals, blood centers and commercial reference laboratories to screen for specific antibodies and group and type whole blood. These products have been sold in more than 30 countries through Organon Teknika-affiliated firms.

Biopool and Organon Teknika have a two-year agreement that allows for the continued distribution of these products through Organon Teknika’s worldwide affiliates.

“Based on 1996 results, we expect revenues of the BCA product line to exceed $8 million in 1997, which should more than double Biopool’s 1997 revenues over 1996,” said Michael D. Bick, Biopool’s chairman and chief executive officer.