Viracor-IBT Laboratories Acquires Assets of the National Institute of Transplantation
Expands laboratory operations to help more U.S. transplant patients
Lee's Summit, MO - November 13, 2013 - Viracor-IBT Laboratories, Inc. announced today it has signed a definitive agreement to purchase all assets associated with the laboratory operations of the National Institute of Transplantation (NIT), a non-profit organization committed to advancing the science and practice of transplantation. This includes the acquisition of NIT's Los Angeles, California-based serology and HLA laboratory operations. The transaction is expected to close in early December 2013, pending regulatory approval.
The acquisition will help perpetuate and extend the missions of the NIT and Viracor-IBT, with a goal to improve the lives of more patients across the U.S. The NIT performs serology testing on donor blood to determine the general acceptability of a donor's organs and tissue to suitable recipients. It is one of the only laboratories in the U.S. to provide these specialized results within six to eight hours. Its histocompatibility and genomics laboratories test donor/recipient pairs for HLA genetic compatibility, improving the chances for long-term graft survival, lowering rejection rates and incidents of infection. NIT's expertise in pre-transplant testing complements Viracor-IBT's capabilities in post-transplant diagnostics, providing more full-service transplant diagnostic solutions to patients. Viracor-IBT currently serves approximately sixty percent of the nation's transplant programs by helping clinicians diagnose and differentiate BMT and SOT complications.
"Viracor-IBT and NIT have a shared passion for and extensive expertise in, innovative transplant diagnostics with accelerated turnaround times. This acquisition is an excellent strategic extension of our capabilities, allowing us to provide pre- and post-transplant testing to more patients across the U.S. Expanding Viracor-IBT's laboratory operations into the Pacific Time Zone will also allow us to better serve patients in this geographic region with more timely results. Viracor-IBT is confident this will bring continued benefits to the industry and the patients we serve," said Thomas W. Burnell, PhD, President and CEO of Viracor-IBT Laboratories.
"We're pleased this strategic transaction will allow for the continued expansion of laboratory services to the transplant community, and will extend the NIT Foundation's ability to fund transplant research and education," said Justin R. Dooley, CEO of NIT and board member of the NIT Foundation.
About Viracor-IBT Laboratories
With nearly 30 years of specialized expertise in infectious disease, immunology and allergy testing, Viracor-IBT is committed to helping medical professionals, national and regional reference labs and biopharmaceutical companies solve challenging and often life-threatening problems. Viracor-IBT is passionate about delivering value to its clients by providing timely, actionable information, never losing sight of the connection between the testing it performs and the patients it ultimately serves. Viracor-IBT is majority owned by Ampersand Capital Partners, a healthcare-focused, middle market private equity firm. For more information, please visit www.viracoribt.com
About The NIT
The Mendez National Institute of Transplantation is a public non-profit organization that adheres to its founding mission to advance the science and practice of transplantation through research, technical service, and educational programs. The NIT's laboratories have become centers of exciting discovery for the science and practice of organ transplantation, using the latest in science and technology to provide services that greatly contribute to organ transplant research, clinical practice and patients' quality of life. Its serology laboratory is unmatched in size by any of its kind in the world, and its histocompatibility and genomics laboratories have made immeasurable contributions to organ transplantation research. For more information, visit www.transplantation.com
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Thomas W. Burnell