SeraCare Life Sciences Names Tom Lawlor as Global Chief Operating Officer - Lawlor to Oversee Domestic and International Operations and Direct Integration of Acquisitions -.OCEANSIDE, Calif. -- SeraCare Life Sciences, Inc. (Nasdaq: SRLS SRLS Stimulated Raman Loss Spectroscopy ), a provider of biological materials and services essential for research applications, the manufacture of diagnostic tests, and the commercial production of therapeutic drugs, announced today that it has named Thomas Lawlor, 47, as the Company's Global Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. . Mr. Lawlor will be based in Massachusetts, working from SeraCare's West Bridgewater facility, in close proximity to SeraCare's other East Coast facilities in Massachusetts and Maryland. Mr. Lawlor brings to SeraCare nearly 18 years of life sciences and biotech industry management experience, with a focus on blood and plasma-based products and services. He joins SeraCare from Haemonetics Corporation (NYSE NYSE See: New York Stock Exchange : HAE) in Braintree, Massachusetts For geographic and demographic information on the census-designated place Braintree, please see the article Braintree (CDP), Massachusetts. Braintree is a town in Norfolk County, Massachusetts, United States. The population was 33,828 at the 2000 census. , where he has been for 18 years, most recently as Vice President of U.S. Blood Bank and Field Services Operations. In this position, Mr. Lawlor was responsible for sales, marketing, and service and clinical training programs across the country. Previously, as Vice President of Haemonetics' U.S. Surgical, Plasma and Field Service Operations, Mr. Lawlor managed $110 million in revenues, successfully integrated two acquisitions and achieved sales and gross profit margin Gross profit margin Gross profit divided by sales, which is equal to each sales dollar left over after paying for the cost of goods sold. gross profit margin A measure calculated by dividing gross profit by net sales. improvements across the businesses. Prior to joining Haemonetics in 1986, Mr. Lawlor fulfilled various technical and managerial positions at Intermetrics, Inc. Michael Crowley, Jr., SeraCare Life Sciences CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. said, "Through our recent acquisitions and internal growth, SeraCare has now reached a size and scope of operations where we can truly utilize and benefit from the addition of a Chief Operating Officer, particularly one possessing Tom's substantial operating experience and record of accomplishment. We are pleased to welcome Tom to our organization and are confident that he will play a very important role in SeraCare's growth, particularly in the near term, as we work to integrate our acquisitions effectively and develop new revenue and margin improvement opportunities." Commenting on his new position, Tom Lawlor said, "I am very pleased to join the SeraCare team as COO and to contribute to their innovative strategy and aggressive, long-term growth goals. I believe my work experience and industry knowledge will enable me to get up to speed very quickly and make important contributions to the Company's expanding ability to service clients worldwide." In accordance with the terms of his employment agreement, on December 13, 2004, the Company granted to Mr. Lawlor a nonqualified stock option to purchase 160,000 shares of the Company's common stock at an exercise price equal to the closing price per share of the Company's common stock on December 13, 2004. The stock option vests in three equal annual installments and expires six years from the date of grant. Vesting of the stock option may be accelerated under the circumstances described in the stock option agreement. The stock option was not granted under the Company's Stock Incentive Plan and will not be submitted to the shareholders for approval. About SeraCare Life Sciences: SeraCare Life Sciences, Inc. is a manufacturer and provider of biological products and services for diagnostic, therapeutic, drug discovery, and research organizations worldwide. The Company's offerings include plasma-based therapeutic products, diagnostic products and reagents, cell culture products, specialty plasmas, in vitro in vitro /in vi·tro/ (in ve´tro) [L.] within a glass; observable in a test tube; in an artificial environment. in vi·tro adj. In an artificial environment outside a living organism. stabilizers, and the Global Repository(R), comprised of clinical samples (DNA DNA: see nucleic acid. DNA or deoxyribonucleic acid One of two types of nucleic acid (the other is RNA); a complex organic compound found in all living cells and many viruses. It is the chemical substance of genes. , RNA RNA: see nucleic acid. RNA in full ribonucleic acid One of the two main types of nucleic acid (the other being DNA), which functions in cellular protein synthesis in all living cells and replaces DNA as the carrier of genetic , tissue, and serum) for the application of human genetics Human genetics A discipline concerned with genetically determined resemblances and differences among human beings. Technological advances in the visualization of human chromosomes have shown that abnormalities of chromosome number or structure are surprisingly to target validation for drug discovery. SeraCare is headquartered in Oceanside, CA, and maintains facilities in Cambridge and West Bridgewater, MA; Frederick and Gaithersburg, MD; and Hatboro, PA. For more information please visit www.seracare.com or divisional websites at www.bbii.com and www.getdna.com. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. for Forward-Looking Statements: Certain statements contained in this press release may be deemed to be forward-looking statements under federal securities laws, and the Company intends that such forward-looking statements be subject to the safe harbor created thereby. The Company cautions that these statements are qualified by important factors that could cause actual results to differ materially from those reflected by the forward-looking statements. Information on factors that could affect the Company and its financial results is included in the Company's report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended September 30, 2004 filed with the Securities and Exchange Commission (SEC) as well as the Company's other periodic filings with the SEC. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. |
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