Biopool International Announces Sale of BCA Division.VENTURA, Calif.--(BUSINESS WIRE)--May 3, 1999-- Biopool International Inc. (Nasdaq:BIPL BIPL Biphase Level ) 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 BLUD Be Loyal Until Death (gaming clan) ) 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 West Chester, borough (1990 pop. 18,041), seat of Chester co., SE Pa., W of Philadelphia; inc. 1799. Primarily residential, West Chester was long the trade and processing center for an agricultural region that is now mainly suburbs. , 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 Noun 1. blood coagulation - a process in which liquid blood is changed into a semisolid mass (a blood clot) blood clotting clotting, coagulation, curdling - the process of forming semisolid lumps in a liquid , thrombotic risk factors, fibrinolysis fibrinolysis /fi·bri·nol·y·sis/ (fi?brin-ol´i-sis) dissolution of fibrin by enzymatic action.fibrinolyt´ic fi·bri·nol·y·sis n. pl. , platelet function, and the vascular system and specialty toxicology toxicology, study of poisons, or toxins, from the standpoint of detection, isolation, identification, and determination of their effects on the human body. Toxicology may be considered the branch of pharmacology devoted to the study of the poisonous effects of drugs. 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 http://www.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 An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called 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." |
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