Nearly 270 employees at Lee’s Summit based ViraCor-IBT Laboratories are breathing a sigh of relief after learning no cuts will be made to the workforce after the sell of the company to a European-based operation.
Eurofins Scientific announced May 9 that it signed a definitive agreement to acquire ViraCor-IBT from majority owner Ampersand Capital and other shareholders for approximately $255 million.
ViraCor-IBT is an esoteric reference laboratory providing biologic and large molecular biomarker support, along with molecular testing to hospitals, physicians and biotech/pharmaceutical companies. The company is located at 1001 Technology Drive in Lee’s Summit and has a satellite lab in Los Angeles.
According to a press release announcing the acquisition, Viracor-IBT serves 550 institutional clients and more than 4,000 affiliated clinicians as well as 12 leading pharmaceutical companies across the United States and is expected to generate revenues in excess of $80 million for calendar year 2014.
Completion of the transaction is expected in the next 60 days and is subject to applicable regulatory approvals and customary closing conditions.
Once the sale is complete, the company will continue to be known as ViraCor-IBT Laboratories, Inc., the release stated.