Tuesday, May 6, 2008

Applied Precision Sells Life Sciences Unit to Management, Venture Group

Applied Precision LLC, a manufacturer of imaging, measurement and analysis systems for the life sciences industry, announced Monday that it has sold its Life Sciences business unit to a group that includes its senior management team and Telegraph Hill Partners of San Francisco. The transaction became final April 29. Applied Precision said the resulting company is called Applied Precision Inc. and will remain at its current location in Issaquah, Wash., a Seattle suburb. Ron Seubert will stay on board with the new company as chief executive officer and chairman with Joe Victor as president and Steve Reichenbach as chief financial officer.