News. 28/02/24

Procuritas partners up with Precision BioLogic

Procuritas Capital Investors VII (Procuritas) acquires Precision BioLogic (PBI) and subsidiary (Affinity Biologicals), fast-growing niche leaders in hemostasis diagnostics and research. PBI has in recent years launched a number of successful diagnostics products and is active in a growing market, supported by long-term trends such as ageing population, emerging new therapies, and increased access to healthcare across the globe.  

“We are excited to team up with Procuritas for the next step in our growth journey. Believing in innovation through collaboration, this partnership opens new possibilities for us to expand our reach, accelerate progress, and make an even greater impact in the field of coagulation diagnostics. We see many new opportunities ahead while continuing our mission to drive diagnostics forward and improve lives worldwide”, says Paul Empey, President and CEO of Precision BioLogic.

“Precision has created value through collaborative relationships with our people, our customers, and our partners across the industry,” said Michael Scott, early investor and CEO for two decades. ”We know Procuritas shares these same values – so this change of ownership feels like a good landing spot for everyone. We would like to thank the many people who have contributed to the growth and success of Precision BioLogic over the past 30 years – and we offer warm wishes to the management team as they lead the company into a new era of opportunity and growth.”

Precision BioLogic is focused on FDA cleared reagents and plasma-based products for the North American and European markets. The company has a broad product offering, a successful financial track record, and a very experienced management team. Affinity Biologicals is active in hemostasis research as well as OEM and custom products and services. The investment follows Procuritas’ theme-based strategy and earlier investment in Nordic Biomarker, a leading Swedish provider of coagulation diagnostics assays. “We have kept a keen eye on Precision BioLogic for a while, and are impressed by the company’s excellent market reputation, high-quality reagents and R&D capabilities. We also see great potential in the coagulation diagnostics industry, which is supported by long-term underlying trends such as increased access to healthcare, development of new therapies, and an ageing population”, says Johan Conradsson, Co-Managing Partner at Procuritas.

For more information please contact
Anders Andrén, Head of Communications, Procuritas
anders.andren@procuritas.com
+46 76 133 99 40

Elaine Benoit, Marketing and Communications Manager, Precision BioLogic
ebenoit@precisionbiologic.com
+1 902 430 7795

About Precision BioLogic
The company was founded in 1983, with HQ in Halifax, Nova Scotia. Precision BioLogic is a niche player in the coagulation diagnostics market focused on FDA cleared reagents and frozen plasmas for the North American and European markets. Customers include key reference laboratories, hospitals, treatment centers and research groups. The company directly serves over 1,000 clinical laboratories throughout North America and has a network of distributors in Europe.

About Affinity Biologicals
The company was founded in 1987 and is a primary manufacturer of products used worldwide in thrombosis and hemostasis research and diagnostics. Its products include an extensive line of antibodies, human deficient plasmas, and more along with custom services including assay development. Precision BioLogic acquired Affinity Biologicals in late 2018, and together the two are advancing hemostasis diagnostics and research.

About Procuritas
Procuritas is a private equity investor, focused on investing in and growing mid-market companies. With a passion for business, hands-on active ownership approach and more than thirty-year record from a large variety of transactions, it has supported more than 45 companies in accelerating their growth and realizing their true business potential. Though based in Stockholm, Sweden, Procuritas’ companies are present around the world. As owners, Procuritas is characterized by its enthusiasm, commitment, and strong belief that it is an ally in the quest to build strong and sustainable businesses.

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