LGC Acquires SeraCare Life Sciences to Strengthen Position in Clinical Quality Control Market

Recently, VCBeat (WeChat Official Account: vcbeat) learned from foreign media reports that Linden Capital Partners, a Chicago-based healthcare private equity firm, has announced the sale of life sciences company SeraCare to LGC North America. No financial details of the transaction have been disclosed at this time.

LGC (Laboratory of the Government Chemist) was established in 1842 as the UK Government Chemist’s laboratory. It was privatized in 1996, becoming LGC Limited. The company is a market leader integrating laboratory services, measurement standards, reference materials, and laboratory proficiency testing. Over its 170-year history, LGC has grown into a group comprising the following divisions: LGC Standards, LGC Forensics, LGC Genomics, LGC Scientific Technologies, and LGC Health Sciences. The group’s technical expertise spans foundational research areas including R&D and quality control, pharmaceuticals and biotechnology, forensic science, life sciences, food chain safety, and environmental monitoring. Meanwhile, LGC plays a core role in projects aimed at raising testing standards and enhancing testing capabilities across numerous government and industrial sectors. LGC was acquired by KKR in 2015.

SeraCare Life Sciences, founded in 1984 and headquartered in Massachusetts, USA, is a manufacturer of biological products. For over three decades, it has been providing products and services to the global life sciences industry, serving as a trusted partner and global supplier to the diagnostic testing sector. The company advances clinical genomics, molecular, and serological diagnostics through innovative technologies, quality control, reagents, and biological materials.

Image from the SeraCare official website

As an ISO 13485-certified manufacturer with advanced technology, SeraCare is committed to advancing precision medicine and serving providers of NGS (Next-Generation Sequencing)-based tests, as well as developers and manufacturers of IVD (In Vitro Diagnostic) products.

In 2012, Linden Capital Partners acquired SeraCare. Under the leadership of Linden Capital Partners, the team continued to expand SeraCare’s business, serving more than 90% of the top IVD manufacturers worldwide and continually broadening its customer base. In 2013, SeraCare acquired KPL, an experienced supplier of primary and secondary antibodies. This acquisition provided a strategic complement to SeraCare’s product portfolio.

LGC’s acquisition of SeraCare builds on LGC’s existing portfolio of calibration verification materials and proficiency testing products, strengthening its position in the clinical quality control tools market.

Euan O’Sullivan, Managing Director of LGC’s Standards Division, stated: “We are delighted to welcome SeraCare into our Standards Division. The team will complement our existing calibration verification business, providing customers with a portfolio of quality control solutions. This significant acquisition will also strengthen our presence in the rapidly growing market for molecular diagnostics and NGS reference materials, complementing our genomics offerings.”

“SeraCare has enabled precision medicine by enhancing disease awareness and ensuring diagnostic accuracy, earning the trust and confidence of customers for over 30 years,” said Charlie Mamrak, CEO of SeraCare Life Sciences. “We are delighted to join LGC and become an integral part of its growing clinical diagnostics business.”

Linden Capital Partners, founded in 2002, is a Chicago-based private equity firm specializing in leveraged investments within the healthcare industry. The firm’s investment strategy is built on three pillars: healthcare specialization, integrated private equity and operational expertise, and strategic relationships with large corporations. Linden primarily invests in middle-market platforms across the medical products, specialty distribution, pharmaceuticals, and services sectors.

Founded in 1976, KKR is a veteran leader in leveraged buyouts and one of the most successful industrial investment firms in financial history. As one of the oldest and most experienced private equity investment institutions globally, KKR operates worldwide. Headquartered in New York, KKR maintains multiple offices in San Francisco, London, Paris, Hong Kong, Tokyo, Beijing, and other cities. As of June 30, 2013, KKR’s total assets under management reached $83.5 billion, with investors including corporate pension funds, public pension funds, financial institutions, insurance companies, and university endowments. KKR is committed to working closely with the management teams of its portfolio companies, leveraging its global resources and operational expertise to create value through equity investments.