PRINCETON, N.J., April 7, 2010 (GLOBE NEWSWIRE) -- Orchid Cellmark Inc. (Nasdaq:ORCH), a leading international provider of identity DNA testing services, today announced it has acquired the paternity and immigration DNA testing business unit of Strand Analytical Laboratories, LLC.
Strand is a provider of forensic, medical, and paternity DNA testing services based in Indianapolis, Indiana.
Under terms of the contract, which were not disclosed, Orchid Cellmark will acquire the government paternity, private paternity, and immigration testing accounts of Strand. In 2009, Strand's paternity and immigration testing business unit had revenue of approximately $450,000. Strand will continue to service the clients of its other DNA testing business units.
"While Strand's paternity business is relatively small in size, the acquisition is consistent with our strategy to grow revenues," said Thomas Bologna, president and chief executive officer of Orchid Cellmark. "With virtually no customer overlap, Strand's paternity and immigration laboratory testing businesses fit well into our operations and will be serviced from our paternity facility in Dayton, Ohio," he added.
About Orchid Cellmark
Orchid Cellmark (Nasdaq:ORCH) is a leading international provider of DNA testing services primarily for forensic and family relationship applications. Orchid Cellmark is one of the largest providers of forensic DNA testing services, and its DNA results are used by the criminal justice system to assist with the identification of perpetrators, the exclusion of suspects and the exoneration of wrongfully convicted individuals. The company provides DNA family relationship testing to numerous child services organizations and individuals seeking to verify parentage. Orchid Cellmark also serves immigration and security authorities for DNA testing of individuals. In the agriculture field, the company provides DNA testing services for selective trait breeding. Orchid Cellmark's strong market positions in these areas reflect the company's accredited laboratories in the U.S. and U.K., its innovative genetic analysis technologies and expertise, and the company's reputation for exceptional quality, reliability and customer service for nearly two decades. More information on Orchid Cellmark can be found at www.orchidcellmark.com.
About Strand
Strand Analytical Laboratories, headquartered in Indianapolis, Indiana, is a leading provider of human identification DNA testing services, committed to improving the way DNA results are delivered and used. A unique expertise in both science and law provides Strand with the knowledge to deliver on-time, credible results, and the experience to advise customers on the proper interpretation and application of DNA evidence.
All statements in this press release that are not historical are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding expectations regarding Orchid Cellmark's business operations and outlook. Such statements are subject to the risks and uncertainties that could cause actual results to differ materially from those projected, including, but not limited to, uncertainties relating to technologies, product development, manufacturing, market acceptance, cost and pricing of Orchid Cellmark's products and services, dependence on government funding and collaborations, regulatory approvals, competition, intellectual property of others, patent protection, litigation, the timing of release of federal and state funds, the timing and amount of contracts put up for bid, and Orchid Cellmark's ability to successfully offer its services directly to U.K. police forces. These risks and other additional factors affecting these forward-looking statements and Orchid Cellmark's business are discussed under the headings "Risks Related to Our Business" and "Risks Associated with Our Common Stock" in Orchid Cellmark's Annual Report on Form 10-K for the year ended December 31, 2009, as filed with the Securities and Exchange Commission, and in other filings made by Orchid Cellmark with the Securities and Exchange Commission from time to time. Orchid Cellmark expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in Orchid Cellmark's expectations with regard thereto or any change in events, conditions, or circumstances on which any such statements are based, except as may be required by law.
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