Navigation Links
HYCOR Divests Urinalysis Business to Increase Focus on Allergy and Autoimmune Markets
Date:2/19/2013

GARDEN GROVE, Calif., Feb. 19, 2013 /PRNewswire/ -- HYCOR Biomedical, Inc. ("HYCOR"), a leading manufacturer and marketer of in vitro diagnostic products for the global allergy and autoimmune markets, today announced that it has sold its urinalysis business to an affiliate of One Rock Capital Partners, Laurel Crown Partners, and StoneCreek Capital. The sale includes the KOVA® system of urinalysis products. HYCOR is a portfolio company of Linden Capital Partners ("Linden").

"The divestiture of the urinalysis business represents an important step in our growth strategy for HYCOR and allows us to focus exclusively on the growing, global allergy and autoimmune sectors of in vitro diagnostics," said Richard Novak , Chairman of HYCOR's Board of Directors, and Operating Partner at Linden.

The urinalysis business will be named Kova International, Inc. and will continue to operate out of its Garden Grove, California manufacturing facility under the leadership of Vance Mitchell , who has more than 25 years of experience with the Kova urinalysis business. 

"With this action we are better positioned to grow our pipeline of allergy and autoimmune diagnostic products to serve the needs of our customers, whether they are leading clinical laboratories or integrated health networks," said Dick Aderman , President and CEO of HYCOR. "Healthcare providers are increasingly looking to innovations in in vitro diagnostics to provide accurate diagnosis of these prevalent and costly conditions."

Allergies represent the fifth leading chronic disease in the United States, with an estimated 60 million Americans suffering from one or more allergy types. Moreover, it is estimated that 30-40% of the world population is now affected by one or more allergic conditions. The symptoms of allergy can appear in the nose, ears, lungs, skin, digestive system or other parts of the body. Early diagnosis and treatment of allergy have been shown to modify the course of the disease and help prevent subsequent development of other more serious conditions. An autoimmune disorder is a condition that occurs when the immune system mistakenly attacks and destroys healthy body tissue. There are more than 80 different types of autoimmune disorders and diagnosis is a complex process. Focusing on the allergy and autoimmune markets provides important synergies as the diagnostics for these disease categories share commonalities such as platform, assay development and manufacturing, and also target the same end user and areas of the laboratory.

The transaction includes the transfer of urinalysis assets and employees. Financial terms of the transaction were not disclosed. Houlihan Lokey served as exclusive financial advisor to HYCOR and Kirkland & Ellis LLP provided legal advice to HYCOR for the transaction.

About HYCOR Biomedical, Inc.
Founded in 1981, HYCOR is a global manufacturer and marketer of in vitro diagnostics products. Since its founding, HYCOR has expanded its presence in allergy and autoimmune products used in clinical laboratories, hospitals and doctors' offices worldwide. Among its products, HYCOR markets the HYTEC™ and AUTOSTAT™ brands. The company is focused on delivering products that provide the highest value to clinicians through innovation, reliability and customer service. For more information, please visit www.hycorbiomedical.com.

About Linden Capital Partners
Linden Capital Partners is a Chicago-based private equity firm focused exclusively on leveraged buyouts in the healthcare and life science industries. Linden's strategy is based upon three elements: i) healthcare and life science industry specialization, ii) integrated private equity and operating expertise, and iii) strategic relationships with large corporations. Linden currently has investments in middle market platforms in the products, distribution, and services segments of healthcare. Visit Linden Capital Partners at www.lindenllc.com.


'/>"/>
SOURCE HYCOR Biomedical, Inc.
Copyright©2012 PR Newswire.
All rights reserved

Related medicine technology :

1. HYCOR Establishes Center Of Operations In Kassel, Germany To Provide Dedicated Support To European Distributors And Customers
2. Sean P. Nolan Joins InterMune as Executive Vice President and Chief Business Officer
3. Proprietary Medical Device Data Helps Businesses Adapt in the Shifting Healthcare Landscape, Post-Affordable Care Act
4. JACO Certified by the Womens Business Enterprise National Council
5. Sigma-Aldrich Corporations Sigma Life Science Business to Distribute Worldwide Olink Biosciences Protein Interaction Analysis Technology
6. Philadelphia Native And Author Of Book On Healthcare Industry Headlines Expert Panel At The Wharton Health Care Business Conference
7. Avanir Pharmaceuticals Reports Fiscal 2013 First Quarter Financial And Business Results
8. Intarcia Appoints Owen Hughes Chief Business Officer and Head of Corporate Development
9. Wacoms New DTU-1031 Provides Paperless Electronic Signature Solution for Businesses
10. Amgen To Webcast 2013 Business Review Meeting On February 7
11. Homecare Association Says CMS Pricing For DME Equipment Will Endanger Seniors, Cost Jobs, And Force Business Closures
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:4/20/2017)... 20, 2017  RXi Pharmaceuticals Corporation (NASDAQ: RXII), ... address significant unmet medical needs, today announced that ... consumer product development program, based on its proprietary ... Investigative Dermatology (SID) 76 th Annual Meeting.  ... the sciences relevant to skin health and disease ...
(Date:4/20/2017)... 20, 2017   ZappRx, Inc ., a digital health ... process, today announced it closed $25 million in Series B ... firm based in Seattle that is ... . The Series B round included participation from SR ... and GV (formerly Google Ventures). As part of ...
(Date:4/20/2017)... -- Eyevensys, a private biotechnology company developing ... technology that enables the safe, local, sustained production of ... range of ophthalmic diseases, announces it has received approval ... (MHRA) to advance its technology into clinical development. ... The EyeCET platform ...
Breaking Medicine Technology:
(Date:4/29/2017)... ... April 29, 2017 , ... TransDark is a set of dynamic transitions ... the next without having to set a single keyframe in Final Cut Pro ... video production. , TransDark features dynamic transitions that momentarily splits the RGB layers of ...
(Date:4/28/2017)... ... April 28, 2017 , ... An April 24th article on Yahoo! Beauty discusses ... with the help of a weight loss surgery. The woman, declaring “I will not hate ... been left following her dramatic weight loss. Dr. Feiz & Associates notes that, while it ...
(Date:4/28/2017)... ... 2017 , ... Beginning in 2017, Ridgecrest Herbals will be phasing out the ... ClearLungs Extra Strength formula. To ensure that the effectiveness of Clear Lungs Extra Strength ... , Removal of the homeopathic element , Adding their ...
(Date:4/28/2017)... ... April 28, 2017 , ... Ushio ... These lamps offer an instant energy-saving solution for F32T8 fluorescent lamps on most ... disconnect ballasts. These 50,000 hour rated lamps utilize the existing electronic ballast, saving ...
(Date:4/28/2017)... ... April 28, 2017 , ... From April 30 to May ... Medicine will host industry leaders for the annual spring Convention & Expo, called ... industry adapt to the issues currently affecting urgent care and on-demand healthcare. , ...
Breaking Medicine News(10 mins):