BioSpace.com

Biotech and Pharmaceutical
News & Jobs
Search the Site
 
   
Biotechnology and Pharmaceutical Channel Medical Device and Diagnostics Channel Clinical Research Channel BioSpace Collaborative    Job Seekers:  Register | Login          Employers:  Register | Login  

NEWSLETTERS
Free Newsletters
Archive
My Subscriptions

NEWS
News by Subject
News by Disease
News by Date
PLoS
Search News
Post Your News
JoVE

CAREER NETWORK
Job Seeker Login
Most Recent Jobs
Browse Biotech Jobs
Search Jobs
Post Resume
Career Fairs
Career Resources
For Employers

HOTBEDS
Regional News
US & Canada
  Biotech Bay
  Biotech Beach
  Genetown
  Pharm Country
  BioCapital
  BioMidwest
  Bio NC
  BioForest
  Southern Pharm
  BioCanada East
  US Device
Europe
Asia

DIVERSITY

INVESTOR
Market Summary
News
IPOs

PROFILES
Company Profiles

START UPS
Companies
Events

INTELLIGENCE
Research Store

INDUSTRY EVENTS
Biotech Events
Post an Event
RESOURCES
Real Estate
Business Opportunities

 News | News By Subject | News by Disease News By Date | Search News
eNewsletter Signup
Miles
Km80.5

   

Linden Acquires Hycor Biomedical Business from Agilent Technologies Inc. (A) (JOBS)


2/3/2010 6:40:10 AM

Bookmark and Share

CHICAGO & SANTA CLARA, Calif.--(BUSINESS WIRE)--Linden LLC, a Chicago-based healthcare private equity firm, today announced it has acquired Hycor Biomedical Inc. from Agilent Technologies (NYSE:A - News). Hycor develops, manufactures and markets in vitro diagnostic products for the global allergy, autoimmune and urinalysis markets. Agilent acquired Hycor through its acquisition of Stratagene in 2007. The terms of the agreement were not disclosed.

Founded in 1981 and based in Garden Grove, Calif., Hycor is a global manufacturer and marketer of in vitro diagnostics products. A series of acquisitions since its founding have expanded the company’s presence into urinalysis, allergy and autoimmune products used in clinical laboratories, hospitals and doctors’ offices worldwide. Among its products, Hycor markets the HYTEC, KOVA and AUTOSTAT brands. The company is focused on delivering products that provide the highest value to clinicians through innovation, reliability and customer service.

“We believe Hycor has great opportunities outside of the Agilent portfolio,” said Nick Roelofs, President of Agilent’s Life Sciences Group. “Hycor is an innovative, profitable and growing business, but it does not fit the core focus of our life science business. Agilent is pleased that Linden is the buyer because of its strong healthcare and diagnostics expertise coupled with its track record of investing in and growing businesses.”

Richard Novak, a Linden Operating Partner and former Chief Operating Officer of Laboratory Corporation of America (NYSE:LH - News), will serve as Chairman of Hycor. “The Hycor platform is well-positioned to compete in the high-growth segments of in vitro diagnostics for allergy and autoimmune testing,” said Novak. “Additionally, Hycor’s market leadership in urinalysis products provides the business an attractive platform for international expansion.”

Thomas Weisel Partners LLC acted as exclusive financial advisor to Agilent for this transaction.

About Agilent Technologies

Agilent Technologies Inc. is the world’s premier measurement company and a technology leader in communications, electronics, life sciences and chemical analysis. The company’s 17,000 employees serve customers in more than 110 countries. Agilent had net revenues of $4.5 billion in fiscal 2009. Information about Agilent is available on the Web at www.agilent.com.

About Linden LLC

Linden is a Chicago-based private equity firm focused exclusively on leveraged buyouts in the healthcare and life science industries. Linden’s strategy is based upon three elements: i) healthcare and life science industry specialization, ii) integrated private equity and operating expertise, and iii) strategic relationships with large corporations. Linden’s portfolio includes BarrierSafe Solutions International, Behavioral Centers of America, Corpak MedSystems, Drayer Physical Therapy Institute, Focused Health Solutions, Hycor Biomedical, and Ranir. For additional information, please visit www.lindenllc.com.

Contact:

Agilent Eric Endicott, +1-408-553-2005 eric_endicott@agilent.com or Linden LLC Chris Tofalli, +1-914-834-4334 ctofalli@lindenllc.com

Read at BioSpace.com

   

ADD TO DEL.ICIO.US    ADD TO DIGG    ADD TO FURL    ADD TO STUMBLEUPON    ADD TO TECHNORATI FAVORITES