BioIVT, a provider of biospecimens, research models and services for drug and diagnostic development, announced that it has acquired Tennessee Blood Services (TBS), a commercial blood bank located in Memphis, Tennessee.
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TBS is FDA-registered to collect whole blood and blood products for diagnostic use by manufacturers and research facilities worldwide.
"We are delighted the TBS team is joining BioIVT and will manage our ninth blood donor center. They have a great reputation, long history in the industry, as well as considerable expertise in blood banking and operating a donor center. They also take pride in delivering products that are tailored to meet customers' specific needs. We appreciate and applaud that drive to achieve the highest level of customer satisfaction," said BioIVT CEO Jeff Gatz.
"This acquisition gives us increased control of our own supply chain for normal blood products, a strength that we have learned to appreciate even more during the pandemic. Memphis is a strategic transportation hub, offering geographical advantages to ensure that our fresh blood products get to clients as quickly and efficiently as possible," added Mr. Gatz.
This acquisition will give BioIVT greater capacity, flexibility, and control of its supply of fresh whole blood, plasma, serum, and red blood cell products from healthy donors of all demographics. The TBS donor center collects blood or plasma donations from approximately 50-60 people per day. BioIVT itself completes more than 11,000 collections a year.
Originally known as Mid-South Blood Service, Inc., TBS was founded by Harold Stamey and two other investors in November 1967. Prior to the acquisition, it was still run by Harold and his sons Robert, Steve, and Chris.
"BioIVT is well respected in the industry, has a strong customer base and sales organization, and a similar emphasis on excellent customer service," said Harold Stamey. "I am confident that our donors and customers will continue to have the same positive experience working with our company that they have come to expect over the years."
Financial details about this transaction were not disclosed. ■
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