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SeraCare Life Sciences Secures $20 Million Credit Facilities
Date:1/6/2011

MILFORD, Mass., Jan. 6, 2011 /PRNewswire/ -- SeraCare Life Sciences, Inc. (Nasdaq: SRLS), a global life sciences company providing vital products and services to facilitate the discovery, development and production of human diagnostics and therapeutics, today announced that it has entered into a loan agreement that provides senior secured credit facilities in the aggregate amount of $20.0 million with Middlesex Savings Bank and Commerce Bank and Trust Company.  Subject to the terms of the loan agreement, SeraCare can use these funds for working capital, acquisitions, stock repurchases and other general corporate purposes.

"We see securing this loan as one of the first steps towards achieving our goal of doubling the size of SeraCare's business over the next three to four years through a combination of organic growth from our existing business and opportunistic acquisitions," commented Gregory Gould, Chief Financial Officer of SeraCare.  "We believe we are well positioned to grow our existing business over the next several years and can now leverage the strength of our balance sheet with the additional financial resources provided by these credit facilities to maximize SeraCare's opportunities."

Under the loan agreement, Middlesex Savings Bank and Commerce Bank and Trust Company will provide $12.0 million and $8.0 million, respectively, of the total $20.0 million credit facilities, and Middlesex Savings Bank will serve as administrative agent.  The credit facilities are comprised of a $5.0 million revolving line of credit and a $15.0 million term loan facility and are subject to various conditions and covenants.  Additional details can be found in SeraCare's Form 8-K filed with the Securities and Exchange Commission regarding the credit facilities.

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