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SOURCE IBS Capital LLC
Acquisition of IQuum by Roche should dramatically accelerate Roche's expansion into the molecular point of care diagnostic market
BOSTON, June 16, 2014 /PRNewswire/ -- IBS Capital LLC ("IBS"), a Boston based investment firm, today announced the sale of its equity investment in IQuum to Roche. IBS made its initial capital investment in IQuum in 1999 shortly after IQuum was founded and has remained IQuum's largest outside investor over the past fifteen years. David Taft, the President of IBS also served as a director on IQuum's Board of Directors since 1999. During this period, IQuum developed groundbreaking technology in molecular diagnostics. Mr. Taft stated, "IQuum's Laboratory-in-a-tube (Liat) System will dramatically improve the point of care segment of the diagnostics market and will bring significant benefits to Roche. In combination with Roche's extensive technological, marketing and financial resources, the Liat system will provide healthcare clinics and hospitals with fast, accurate and simple to use testing for a wide range of medical conditions."
About IBS Capital LLC
IBS Capital LLC ("IBS") is an investment management company based in Boston, MA. Founded in 1990, IBS is the General Partner of The IBS Turnaround Fund LP (U.S.) and the investment manager of The IBS Opportunity Fund Ltd. (non-U.S.). The IBS funds pursue an "event-driven" investment strategy with a focus on distressed, turnaround and special situation investments. The primary goal of the funds is to generate superior, long-term, after-tax returns through the purchase and sale of stocks and bonds of companies in US and emerging markets that have limited downside risk, but substantial appreciation potential. David Taft is the founder and President of IBS. For more information, please visit www.ibscapital.com.
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