Biopool International completes acquisition of Blood Group Serology business from Organon Teknika.

VENTURA, Calif.--(BUSINESS WIRE)--Jan. 6, 1997--Biopool International Inc. (NASDAQ:BIPL) Monday announced that effective Dec. 31, 1996, the company completed the previously announced acquisition of assets of the Blood Group Serology (BGS) business from Organon Teknika Corp.

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

The acquired business will be known as the BCA Division of Biopool International to recognize the history and quality reputation originating from Biological Corporation of America (BCA), founded in the mid-1970s. The division will operate out of its current 36,000-square-foot facility in West Chester, Pa.

The BCA Division currently includes 50 employees at the Pennsylvania location and 10 outside employees dedicated to sales, marketing and technical service for BCA products. Other assets acquired 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 Dec. 31, 1996. Funding of the purchase price was provided by a combination of a new $3.5 million term loan facility from Sanwa Bank and a private placement of 500,000 shares of common stock for net proceeds of approximately $1,020,000.

The private placement was arranged by International Capital Partners (ICP) of Stamford, Conn., and funded by Zesiger Capital Group LLC of New York.

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

Simultaneously with the closing, Biopool and Organon Teknika entered into a two-year distribution agreement that allows for the continued distribution of these products through Organon Teknika's worldwide affiliates.

Michael D. Bick, Ph.D., chairman and chief executive officer of Biopool, stated: ``We look forward to the challenges of integrating this acquisition into Biopool International and are very excited about the prospects for growth, capitalizing on the synergies between Biopool's historical business base and the new BCA business.

``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. This acquisition, combined with expected internal growth, positions the company to meet our goals of continued growth in revenues and profitability.''

This news release contains forward-looking statements. For a description of factors that may affect the company's operating results, see the ``Risk Factors'' contained in the company's annual report on Form 10-K for the year ended Dec. 31, 1995, on file with the Securities and Exchange Commission.

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, as well as specialty chemistry controls used to monitor and measure the presence of drugs of abuse.

The company's products are sold to hospitals and clinical and reference laboratories on a worldwide basis through an extensive network of distributors.

CONTACT: Biopool International Inc., Ventura

Michael D. Bick or Carol Hill, 805/654-0643