BioLife Solutions Announces $73 Million Sale of its SciSafe Biostorage Subsidiary
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BioLife Solutions has sold its SciSafe biostorage subsidiary for $73 million in cash, allowing the company to focus on its higher-margin cell processing products and strengthen its balance sheet.
November 12, 2024 | 1:30 pm
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BioLife Solutions sold its SciSafe subsidiary for $73 million, enhancing its focus on higher-margin cell processing products and improving its financial position.
The sale of SciSafe for $73 million in cash provides BioLife Solutions with additional capital, allowing it to concentrate on its core business of cell processing products, which are higher-margin. This strategic move is likely to be viewed positively by investors, potentially leading to a short-term increase in the stock price.
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