Navigation Links
Riverside Partners Sells MicroCal to GE Healthcare
Date:9/30/2008

BOSTON, Sept. 30 /PRNewswire/ -- Riverside Partners, based in Boston, MA, is pleased to announce the sale of its portfolio company, MicroCal, to GE Healthcare, a unit of General Electric Company (NYSE: GE).

MicroCal, based in Northampton, MA, develops and manufactures microcalorimeters that provide detailed information on the structure, function and binding properties of a wide range of biomolecules such as proteins, lipids, nucleic acids and antibodies. The growing trend towards structure-based drug design together with the expansion in biopharmaceutical development is driving an increase in the use of microcalorimetry as a standard technique in pharmaceutical research. MicroCal's proprietary technology provides scientists with detailed information across several stages of the drug discovery process, reducing the potential for late-stage drug candidate failures. MicroCal's technology is already used in over one thousand laboratories worldwide and annual revenues are growing at over 25%.

"The management team and employees at MicroCal have done a phenomenal job of innovation and execution during our partnership. Riverside is extremely proud to have been able to work with the company during a time of rapid growth and achievement," said Brian Guthrie, a General Partner at Riverside Partners and Board Director at MicroCal.

"We have appreciated the support, contributions and confidence of Riverside Partners, and now are ready to continue in a new chapter as part of GE Healthcare," said Dr. Richard Brown, CEO at MicroCal. "We see great potential for this business. The resources of GE Healthcare and the wider GE group will allow us to significantly widen our reach and to accelerate our ability to help scientists increase their understanding of molecular interactions. The MicroCal team very much looks forward to working with GE Healthcare to realize the potential of this great technology."

About Riverside Partners

Founded in 1989, Riverside Partners is a middle market private equity firm currently investing Riverside Fund III, L.P. The fund focuses on growth-oriented companies in the healthcare and technology industries. Riverside is particularly experienced at partnering with founders, owners and management teams and it brings substantial domain expertise and operating experience to its portfolio companies. The partners at Riverside have managed more than $500 million in investments in over 50 companies. We are currently focused on companies with revenues between $20 - $200 million and with $5 - $25 million of EBITDA.

About MicroCal

MicroCal is a research-based company that develops and manufactures the most sensitive and reliable microcalorimeters available, primarily for use in the life sciences. MicroCal equipment is in use in over 1,000 labs worldwide, both for R&D and commercial applications. MicroCal is based in Northampton, Massachusetts and was founded in 1977 by Dr. John Brandts, a professor of chemistry at the University of Massachusetts. The company has 75 employees and grew revenues by 25% in 2007 to $21 million.

About GE Healthcare

GE Healthcare provides transformational medical technologies and services that are shaping a new age of patient care. Our expertise in medical imaging and information technologies, medical diagnostics, patient monitoring systems performance improvement, drug discovery, and biopharmaceutical manufacturing technologies is helping clinicians around the world re-imagine new ways to predict, diagnose, inform, treat and monitor disease, so patients can live their lives to the fullest.

GE Healthcare's broad range of products and services enable healthcare providers to better diagnose and treat cancer, heart disease, neurological diseases and other conditions earlier. Our vision for the future is to enable a new "early health" model of care focused on earlier diagnosis, pre- symptomatic disease detection and disease prevention. Headquartered in the United Kingdom, GE Healthcare is a $17 billion unit of General Electric Company (NYSE: GE). Worldwide, GE Healthcare employs more than 46,000 people committed to serving healthcare professionals and their patients in more than 100 countries. For more information about GE Healthcare, visit our website at http://www.gehealthcare.com.


'/>"/>
SOURCE Riverside Partners
Copyright©2008 PR Newswire.
All rights reserved

Related biology technology :

1. Discovery by UC Riverside physicists could enable development of faster computers
2. UC Riverside researcher develops novel method to grow human embryonic stem cells
3. Operon Biotechnologies and DNA2.0 Announce Co-Marketing and Technology Development Partnership
4. NuVasive to Present at Thomas Weisel Partners Healthcare Conference
5. Monogram Biosciences to Present at the Thomas Weisel Partners Healthcare Conference 2007
6. GenVault Partnership with Genome Quebec Brings $3.3 Million Sale of Dynamic Archive Product
7. ADVENTRX Pharmaceuticals to Present at the 2007 Thomas Weisel Partners Healthcare Conference
8. Caliper Life Sciences Presentation at Thomas Weisel Partners Healthcare Conference to be Webcast
9. SuperGen to Present at Thomas Weisel Partners Healthcare Conference September 5th
10. NxStage Medical to Present at the Thomas Weisel Partners Healthcare Conference on September 5, 2007
11. AspenBio Pharma to Present at the Roth Capital Partners New York Investor Conference
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/27/2016)...  Liquid Biotech USA , ... Sponsored Research Agreement with The University of Pennsylvania ... cancer patients.  The funding will be used to ... clinical outcomes in cancer patients undergoing a variety ... employed to support the design of a therapeutic, ...
(Date:6/24/2016)... ... June 24, 2016 , ... While the majority of commercial spectrophotometers and fluorometers ... the 6000i models are higher end machines that use the more unconventional z-dimension of ... beam from the bottom of the cuvette holder. , FireflySci has developed several ...
(Date:6/23/2016)... 23, 2016   Boston Biomedical , an ... designed to target cancer stemness pathways, announced that ... Orphan Drug Designation from the U.S. Food and ... cancer, including gastroesophageal junction (GEJ) cancer. Napabucasin is ... inhibit cancer stemness pathways by targeting STAT3, and ...
(Date:6/23/2016)... ... 2016 , ... Charm Sciences, Inc. is pleased to announce ... Research Institute approval 061601. , “This is another AOAC-RI approval of the Peel ... President of Regulatory and Industrial Affairs. “The Peel Plate methods perform comparably to ...
Breaking Biology Technology:
(Date:4/13/2016)... 2016  IMPOWER physicians supporting Medicaid patients in ... clinical standard in telehealth thanks to a new partnership ... platform, IMPOWER patients can routinely track key health measurements, ... index, and, when they opt in, share them with ... a local retail location at no cost. By leveraging ...
(Date:3/29/2016)... 2016 LegacyXChange, Inc. (OTC: ... SelectaDNA/CSI Protect are pleased to announce our successful effort ... variety of writing instruments, ensuring athletes signatures against counterfeiting ... from athletes on LegacyXChange will be assured of ongoing ... Bill Bollander , CEO states, "By ...
(Date:3/22/2016)... PROVO and SANDY, Utah ... Ontario (NSO), which operates the highest sample volume laboratory ... and Tute Genomics and UNIConnect, leaders in clinical sequencing ... announced the launch of a project to establish the ... panel. NSO has been contracted by ...
Breaking Biology News(10 mins):