Serologicals Corporation enters into letter of intent to acquire Southeastern Biologics.ATLANTA--(HealthWire)--Jan. 5, 1996--Serologicals Corporation (Nasdaq: SERO SERO Southeast Regional Office SERO Sekundaerrohstoffe (recycling, former GDR) SERO Syringe Exchange Resources Online SERO System Engineering/Engineer Release Order SERO Site Emergency Response Organisation (nuclear) ) today announced that it has entered into a letter of intent to acquire Southeastern Biologics of Austin, TX, subject to certain conditions. Southeastern Biologics, with 1995 revenues of approximately $5 million, operates 6 FDA FDA abbr. Food and Drug Administration FDA, n.pr See Food and Drug Administration. FDA, n.pr the abbreviation for the Food and Drug Administration. licensed donor centers in the U.S. Southeastern's centers specialize in the collection of antibodies used to produce intravenous immuneglobulin (IVIG IVIG Intravenous immunoglobulin, see there ), a therapeutic antibody-based product that boosts the human immune system immune system Cells, cell products, organs, and structures of the body involved in the detection and destruction of foreign invaders, such as bacteria, viruses, and cancer cells. Immunity is based on the system's ability to launch a defense against such invaders. and is used to treat patients whose immune systems have been compromised. Consummation of the acquisition is subject to, among other things, satisfactory completion of due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. by Serologicals, receipt of requisite consents and approvals and execution of a definitive acquisition agreement. "The acquisition of Southeastern will allow Serologicals to expand its national donor center infrastructure while acquiring a quality company that has a fine record of productivity," said Harold J. Tenoso, Ph.D., President and 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. of Serologicals Corporation. "These additional six donor centers in the South, Southwest and Midwest, will also increase our access to an expanded network of donors for rare antibodies used to manufacture our specialty antibody-based products." Serologicals Corporation, headquartered in Atlanta, GA, is a leading worldwide provider of specialty human antibody-based products and services to major healthcare companies through its three subsidiaries; Bioscot, Ltd., Edinburgh, Scotland; Serologicals Inc., Atlanta, GA and Seramune, Inc., Colorado Springs, CO. The Company's services, including donor recruitment, donor management and clinical testing services, enable it to provide value-added products that are used as the active ingredients in therapeutic products for the treatment and management of Rh incompatibility Rh incompatibility, n a condition in which two groups of blood cells are antigentically different because of the presence of Rh factor in one group and the absence of the Rh factor in the other. See also Rh factor. in newborns, rabies and hepatitis and in diagnostic products such as blood typing reagents and diagnostic test kits. CONTACT: Douglas Knowles Karen Bergman Serologicals Corporation Clarence Swearngan, Jr. (404) 296-5595 Burns McClellan, Inc. (212) 505-1919 |
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