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VENTURA COUNTY REVIEW

Biopool Acquires Blood Firm, Sees Sales Doubling

November 12, 1996|LEO SMITH | TIMES STAFF WRITER

In a move expected to nearly double the company's annual sales, Ventura-based Biopool Intl. has signed an agreement to purchase the Blood Group Serology operation owned by Organon Teknika, a unit of Akzo Noble of Arnhem, the Netherlands.

Terms of the all-cash purchase, which must meet a number of conditions before it is approved, were not disclosed. The deal is expected to close by Dec. 31.

Biopool manufactures chemicals to help diagnose blood, vascular and other disorders, as well as detect drug abuse. The chemicals react with a patient's blood to test enzyme levels, glucose levels, uric acid content and other indicators of a patient's health.

Blood Group Serology produces a line of about 75 products used by blood banks, hospitals and other clinical laboratories in 30 countries to determine blood type and test for rare antibodies in blood.

Biopool posted net income of $1 million on revenue of $5.9 million for the third quarter ended Sept. 30, and company officials expect to reach $8 million in revenue by the end of 1996. Blood Group Serology is expected to post about $7 million in revenue for the year.

As part of the transaction, Biopool will acquire a 36,000-square-foot facility in West Chester, Pa., and about 50 employees at the site as well as 10 outside sales representatives, equipment and technology.

"In the simplest sense, BGS products are used to determine blood types and Rh factors and that is very, very actively being done because transfusion medicine continues to be big business," said Michael D. Bick, chief executive of Biopool.

"BGS has a good quality product, a good customer base and they bring in a sales organization that makes it easier for us to grow our own business," he said. "The sales people give us existing market presence for the BGS business and will help us capitalize on that business to sell more of our Biopool products."

Bick said the expertise needed by clinical and sales staff used for BGS and Biopool are a good fit.

"There is very similar technical knowledge and the skill needed to sell the products used is common," he said. "The decision-making within the lab setting [for both product lines] will be done by the same people or groups."

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