BioCare to Become Separate Company January 1, 2017admin
Blood Systems, Incorporated has announced that the operations of BioCare, its plasma and biological therapeutics sales division, will be transferred to BioCare, Inc., a separate, for-profit subsidiary of Blood Systems, effective January 1, 2017. Blood Systems will own 100 percent of BioCare, Inc.
“While this is a big change in the way BioCare is structured as a separate legal corporation, our day-to-day operations and our workforce will stay the same,” said Linda Matthews, President of BioCare. “The only change we foresee in our day-to-day activity under the new structure is further opportunity for growth and expansion. Our manufacturer partners will not see any changes in the way we represent them and our customers will continue to receive the first class service they have grown accustomed to since our inception.”
Blood Systems established BioCare as an operating division in 1980 to further its charitable mission in the area of public safety by supplying blood derivatives to its customers. About 20 years later, around the year 2000, Blood Systems saw opportunities to extend services to benefit other healthcare facilities and communities and invested staff and resources to develop its signature consignment program.
The BioCare business model was built on three pillars: consignment programs serving acute facilities, a large field sales representation and a nationwide distribution network, resulting in revenue growth of nearly 2250% in the last 15 years.
For the past three years BioCare has expanded into the non-acute segment of specialty distribution and has experienced extreme growth in this area as well as a result of our ability to create customer solutions. Manufactures are increasingly turning to BioCare to develop distribution strategies to improve market access and launch new specialty products.
Blood Systems President and CEO Dan Connor said the decision was made to support the anticipated growth and strategic direction for BioCare, which has been the fastest growing division at Blood Systems in recent years with non-acute revenue having the most growth.
Founded in 1943 as the Salt River Valley Blood Bank in Phoenix, Arizona, Blood Systems is one of the nation’s oldest and largest non-profit transfusion medicine organizations.