OCEANSIDE, Calif.--(BUSINESS WIRE)--April 26, 2006--SeraCare Life Sciences, Inc. (“SRLSQ”) today announced plans to consolidate facilities and streamline operations. The Company will move its Oceanside, CA operations into its Milford, Massachusetts plant which was acquired from Celliance earlier this year.
Commenting on the consolidation, Tom Lawlor, Chief Operating Officer and Interim CEO, stated: “We have been planning this move for a while and believe this natural integration will eliminate redundancies, improve the quality of our products and services, and achieve synergies that will help drive the organizational efficiencies to the next level.”
Mr. Lawlor continued: “This consolidation allows us to take full advantage of the breadth and depth of our organization. The state-of-the-art facilities and integrated systems in Milford will facilitate higher levels of service and support to our customers. We anticipate no impact upon product delivery during the transition. Over the longer term, customers will benefit from better service and enhanced offerings.”
Consolidating operations into Milford, a cGMP compliant, ISO 9001 certified facility, will increase process efficiencies, streamline manufacturing, centralize inventory control, and integrate quality control systems.
SeraCare Life Sciences Inc. is a manufacturer and provider of biological products and services to diagnostic, therapeutic, drug discovery, and research organizations. The Company’s offerings include plasma-based therapeutic products, diagnostic products and reagents, cell culture products, specialty plasmas, in vitro stabilizers, and the SeraCare BioBank(TM), a proprietary database of medical information and associated blood, plasma, DNA and RNA samples. Headquartered in Oceanside, CA, SeraCare conducts business throughout the world. For additional information about SeraCare Life Sciences Inc., please visit the Company’s web site at http://www.seracare.com.
Safe Harbor 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. Such forward looking statements include the Company’s expectation that (i) its consolidations will generate cost savings while also improving efficiencies and product delivery time; (ii) there will be no interruption in the Company’s delivery of its high quality clinical biosamples during these consolidations; (iii) over the longer term, the Company’s customers will benefit from higher levels of customer service and enhanced product offerings. 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. Such factors include, but are not limited to (i) the Company’s ability to continue as a going concern; (ii) the Company’s ability to obtain court approval with respect to motions in the Chapter 11 proceeding prosecuted by it from time to time; (iii) the ability of the Company to develop, prosecute, confirm and consummate a plan of reorganization with respect to the Chapter 11 case; (iv) risks associated with third parties seeking and obtaining court approval to terminate or shorten the exclusivity period for the Company to propose and confirm a plan of reorganization, for the appointment of a Chapter 11 trustee or to convert the case to a Chapter 7 case; (v) the ability of the Company to obtain and maintain normal terms with vendors and service providers; (vi) the Company’s ability to maintain contracts that are critical to its operations; (vii) the potential adverse impact of the Chapter 11 cases on the Company’s liquidity or results of operations; (viii) the ability of the Company to fund and execute its business plan; (ix) the ability of the Company to attract, motivate and/or retain key executives and employees; and (x) the ability of the Company to attract and retain customers. Information on these and additional factors that could affect the Company and its financial results is included in the Company’s report on Form 10-K for the year ended September 30, 2004 filed with the Securities and Exchange Commission (SEC) as well as the Company’s other public 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
Contact: Citigate Sard Verbinnen Andrew Cole/Robin Weinberg, 212-687-8080
Source: SeraCare Life Sciences, Inc.
