HemaCare Corp. has acquired privately owned Teragenix Corp. for $4.8 million. Teragenix, which had 2005 sales of $5 million and pre-tax profit of about $600,000, is a provider of human biological samples, quality control products and clinical trial management services. The acquisition represents a significant step in furthering HemaCare’s strategy to expand product and service offerings for biotechnology, pharmaceutical and other research-focused organizations, according to a company statement.

Teragenix was acquired in exchange for a combination of cash, notes, assumed debt and HemaCare common stock valued at $4.8 million. Approximately $2.3 million in cash and stock will be paid immediately, subject to working capital adjustments, plus $700,000 in notes and assumed debt, and $1.8 million will be paid over time as part of a potential earn-out with specific earnings targets. Earn-out payments to the owners of Teragenix, both of whom are members of the management team and who will continue to operate the business, are due in installments based on financial results through 2008.

“We are delighted that Teragenix and its operating team will be joining HemaCare,” stated Judi Irving, HemaCare’s president and chief executive officer. “Teragenix has established a world wide network of clinical partners that provide it with a unique ability to collect and document biological samples essential for biomedical research. The research segment is a logical extension of our core blood products business and our strategic intention is to continue growing research sales both organically and through acquisition.”