Invitrogen Corporation, a provider of essential life science technologies for disease research and drug discovery, has completed the sale of its BioReliance business unit to Avista capital partners for $210 million.
"The decision to sell BioReliance followed a thorough portfolio review aimed at identifying our core competencies," said Greg Lucier, chairman and CEO of Invitrogen. "This divestiture allows us to focus on our core platform of tools and technologies and to grow our position as the premier consumables company in the marketplace."
BioReliance is a contract service organization that provides biological safety, testing, toxicology, viral manufacturing and laboratory animal diagnostic services.
Invitrogen Corporation provides products and services that support academic and government research institutions and pharmaceutical and biotech companies worldwide in their efforts to improve the human condition. The company provides essential life science technologies for disease research, drug discovery, and commercial bioproduction.
Invitrogen's own research and development efforts are focused on breakthrough innovation in all major areas of biological discovery including functional genomics, proteomics, bioinformatics and cell biology -- placing Invitrogen's products in nearly every major laboratory in the world.