BioLife Solutions, Inc. (Nasdaq: BLFS) (“BioLife” or the “Company”), a leading developer and supplier of cell processing tools for the cell and gene therapy (“CGT”) market, announces the sale of SAVSU Cleo Technologies, LLC. (f/k/a SAVSU Technologies, Inc.) (“SAVSU”), its wholly owned cold chain logistics subsidiary, for $25.5 million (subject to certain adjustments) in cash to Peli BioThermal, a global leader in temperature-controlled logistics solutions. Roderick de Greef, Chairman and CEO commented “This divestiture streamlines our product portfolio as well as our operations while focusing resources on creating shareholder value through high-margin recurring revenue.”
Read the full article: BioLife Solutions Announces the Sale of Its Evo Cold Chain Logistics Subsidiary //
Source: https://www.prnewswire.com/news-releases/biolife-solutions-announces-the-sale-of-its-evo-cold-chain-logistics-subsidiary-302576396.html