ISSAQUAH, Wash., May 5, 2008 – Applied Precision® LLC a leading provider of imaging, measurement and analysis systems for the life sciences Industries today announced the sale of its Life Sciences business unit to a group led by Senior Management and Telegraph Hill Partners of San Francisco. The resulting company, Applied Precision, Inc., will be headquartered in its current Seattle area facilities in Issaquah, WA. Ron Seubert will continue as CEO and Chairman, Joe Victor as President, and Steve Reichenbach as Chief Financial Officer of the new Applied Precision. Applied Precision LLC previously sold its Semiconductor division in December, 2007 to Rudolph Technologies, Inc. (NASDAQ: RTEC).
“I am thrilled to have the opportunity to continue to lead Applied Precision in this next phase completely focused on our products in the Life Sciences and OEM markets”, said Seubert. “Our collaboration with Telegraph Hill Partners provides a breadth of experience in the life sciences industries that will be extremely beneficial as we expand our product lines and grow our business for the future.”
“We are delighted to partner with Senior Management in the acquisition of Applied Precision” said Robert Shepler, Managing Director of Telegraph Hill Partners. “Applied Precision has a great reputation for technology and innovation and we look forward to building on these core strengths and helping the team bring their products to a wider audience in the Life Science marketplace.”
Effective April 29, 2008, Applied Precision, Inc acquired all of the assets of the Life Sciences business unit of Applied Precision LLC including the DeltaVision® product line focused on microscopy based imaging systems and its OEM products including the arrayWoRx® scanner platform and precision control solutions.
About Applied Precision, Inc.
Applied Precision is a leading provider of imaging, measurement and analysis systems for the life sciences industries and OEM markets. Headquartered just outside of Seattle, Washington with sales centers in both Europe and Asia, Applied Precision has received multiple awards for its innovative new products. The company has also received recognition for its financial growth and is a five-time winner of the Deloitte & Touche Washington State Technology Fast 50 award. More information about Applied Precision is available at: www.appliedprecision.com.
About Telegraph Hill Partners
Telegraph Hill Partners invests in life science, medical device and healthcare companies with meaningful commercial revenues, superior economic business models, outstanding management teams and a commitment to profitability. For more information, visit www.thpartners.net.
Applied Precision, DeltaVision and arrayWoRx are registered trademarks of Applied Precision, LLC.