Applied Precision Announces Sale Of Life Sciences Business Unit To Senior Management And Telegraph Hill Partners

Issaquah, WA - Applied Precision LLC, a leading provider of imaging, measurement and analysis systems for the life sciences Industries, recently 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.

"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.

SOURCE: Applied Precision LLC