Lee’s Summit, MO and Lenexa, KS (June 30, 2009) – ViraCor Laboratories, the leader in molecular diagnostic testing for infectious diseases, and IBT Laboratories, a preeminent clinicaldiagnostics and biomedical-research laboratory specializing in immunology and allergy assays, today announced that the companies are merging to create a new specialty diagnostics laboratory.
Uniting the strengths of ViraCor and IBT, the new company has a strong research and development (R&D) infrastructure and broad scientific proficiency that will allow it to create an expanded menu of diagnostic tests to serve the unmet needs of physicians, hospitals and researchers in the immunology and infectious disease arenas nationwide. The company also will offer an extensive range of services to biopharmaceutical clients seeking support for discovery and clinical-trial testing.
“ViraCor and IBT share many values and areas of expertise and we have admired one another from afar for many years,” said John Martin, president of ViraCor, who will serve as president of the combined company. “Separately, our companies have become market leaders in niche areas and enjoyed significant growth over the last few years. Together, we have tremendous opportunity to grow and innovate. This merger gives ViraCor and IBT the combined scientific know-how and national network not only to reach additional customers who could benefit from our current test menu, but also to expand our services, providing the critical diagnostic information that clinicians need to improve health outcomes for patients.”
The merger of ViraCor and IBT creates a combined company with more than 200 employees that serves more than 4,000 physicians, hospitals, commercial laboratories and biopharmaceutical companies. The new company’s broad test menu includes cellular, immunology, and allergy testing services as well as molecular assays that detect and monitor microbial pathogens.
“This is an important day for our companies, our clients, our communities and our industry,” said Maureen Loftus, president of IBT, who will serve as chief business officer of the combined company. “ViraCor and IBT share a dedication to unsurpassed client service as well to pioneering science that addresses the unmet diagnostic needs of countless patients. By combining our expertise and resources, we have created a company with an unmatched commitment to patient care, a rich diagnostic test menu, and deep R&D capabilities that will continue to set new standards for quality service and science in the clinical laboratory industry.”
Established in 2000, ViraCor is a unique clinical reference and research laboratory with particular expertise in molecular infectious disease testing and in understanding the special needs of patients with compromised immune systems. These patients include those who have had organ transplants as well as cancer patients, individuals with autoimmune disorders and pre-term infants who have weaker immune systems. In addition to serving hospitals and physicians, ViraCor works with pharmaceutical companies and clinical researchers to conduct clinical trials.
IBT was founded in 1983 and is a premier allergy and immunology laboratory. It offers esoteric molecular and cellular immunology services for pharmaceutical clinical trials and patient care diagnostic testing. IBT’s extensive experience and leading-edge research enable it to offer clients the most advanced immunodiagnostic services available in areas such as immune deficiency, autoimmune disease, skin allergy, drug immunogenicity and immunogenomics.
The combined company will operate out of its two current laboratory facilities located 22 miles apart in Lee’s Summit, MO and Lenexa, KS. ViraCor founder and CEO Phillip “Flip” Short will step down from his role as CEO and serve on the company’s board of directors. IBT founder Dr. John Halsey will continue to work with the combined company as a consultant to ensure a successful transition. Dr. Laurence R. McCarthy, a Venture Partner at Ampersand Ventures who served as Executive Chairman of IBT’s board of directors, will serve as Executive Chairman of the combined company’s board of directors.
For more information about ViraCor and IBT and the merger, visit www.ViraCorIBT.com.
About ViraCor Laboratories
ViraCor Laboratories is a leading molecular diagnostic and research laboratory dedicated to providing innovative diagnostic testing to critical care patients and those with compromised immune systems, with expertise in infectious diseases and related pathogens, including viruses, protozoa and fungi. The company set the standard for the diagnostic industry by turning patient results around in less than 24 hours, unlike traditional lab results which can take three days to several weeks. The company is a trusted partner of transplant hospitals nationwide, including two-thirds of all pediatric transplant hospitals. www.viracor.com
About IBT Laboratories
A clinical diagnostic and research laboratory specializing in immunology and allergy testing, IBT provides diagnostic assays for physicians, hospitals, and commercial reference labs nationwide. IBT also provides biomarker and immunogenicity testing services to pharmaceutical and biotechnology companies and life-science researchers. Founded in 1983, IBT is located in Lenexa, Kansas, a suburb of Kansas City.