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Thursday, Mar 28, 2024

HemaCare Expands into Florida

The Woodland Hills manufacturer of blood products and services HemaCare Corp. has purchased Teragenix Corp., a Fort Lauderdale, Fla., provider of human biological samples, for $4.8 million. HemaCare acquired the company in exchange for $2.3 million in cash and stock to be paid immediately; $700,000 in notes and assumed debt; $1.8 million paid over time tied to earnings. HemaCare, founded in 1978, has indicated in recent weeks that it plans to expand in the research sector. Privately-owned Teragenix had 2005 sales of $5 million and pre-tax profit of about $600,000. It also provides quality control products and clinical trial management services.

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