Sentigen Holding Corp. Announces The Sale Of Its Specialty Media Division To Serologicals Corporation's (SERO) CHEMICON International, Inc. (SERO)
10/19/2005 5:12:48 PM
PHILLIPSBURG, N.J.--(BUSINESS WIRE)--Feb. 22, 2005--Sentigen Holding Corp. (NasdaqSC: SGHL) today announced it has sold the Specialty Media Division of its wholly-owned subsidiary, Cell & Molecular Technologies, Inc. to Chemicon International, Inc., a wholly-owned subsidiary of Serologicals Corporation (Nasdaq: SERO).
Under the terms of the agreement, Serologicals agreed to pay Sentigen Holding Corp. $6.5 million in cash, subject to certain post-closing adjustments and escrow, for the assets of the division. In addition to the purchase price Serologicals has retired the mortgage note with a balance of $243,310 on the division's facility at 580 Marshall Street, Phillipsburg, NJ 08865.