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Serologicals Proteins Inc history
Serologicals Proteins Inc company history timeline
The company had one product, Anti-D antibodies drawn from human plasma, which since 1968 had been added to immunoglobulin to prevent the death of infants susceptible to Hemolytic Disease of Newborns.
In 1971 he established Serologicals Corporation in Pensacola, Florida, as a single plasma donor center.
Founding the Company in 1971
1989: Bioscot, Ltd. is acquired.
Annual revenues topped $14 million in 1991 and approached $18 million a year later, but the company remained a minor player in its field, operating just eight donation centers.
In preparation for this move, the company's headquarters was relocated to Clarkson, Georgia, and in November 1994 Serologicals Holdings, Inc. was incorporated in Delaware.
In December 1994 the company acquired assets from Acadiani Group, paying $29.5 million.
Underwritten by Smith Barney Inc., Lehman Brothers Inc., and Volpe, Welty & Company, Serologicals completed its public offering in June 1995, selling 2.4 million shares of common stock at $11.50 per share, which resulted in a net of $24.6 million.
Serologicals' balance sheet at the end of 1996 reflected the company's growth in facilities.
Sumner, Gary, "Blood Antibodies Bolster Serologicals' Growth," Atlanta Business Chronicle, April 17, 1998.
The company added four nonspecialty donor centers and a clinical trial site in two separate transactions in 1998, paying some $5.5 million.
Although sales improved slightly, to $129.7 million, the company suffered a net loss of $15.5 million in 1999.
In May 2000, the company sold its Seramed, Inc. subsidiary, which operated 47 nonspecialty donor centers, to Aventis Bio-Services, Inc. for a net cash consideration of more than $20 million.
Revenues grew to $53.6 million in 2001, and net income improved to $17.1 million.
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