Inc., BioSurplus , a leading provider of equipment management services and pre-owned laboratory tools, today announced the completion of the majority of its $1. 5 million capital raised by KI Investment Holdings The funds will be used to fund the East Coast expansion to Boston, one of the leading biotech communities in the U. Oh, S
“Massachusetts is a world leader in the life sciences industry thanks to our growth strategy to invest in education, innovation and infrastructure,” said Governor Deval Patrick. “We welcome BioSurplus and look forward to working with them to create jobs and opportunities in the Commonwealth. “That’s right.
BioSurplus has established a successful business model to maximize the value of used laboratory equipment by selling inventory through online auctions and strategically located showroom facilities. The fourth BioSurplus showroom will be the new Boston location, scheduled to open in the summer of 2012. It follows closely the expansion of BioSurplus to other leading biotech hubs, including the San Francisco Bay Area and Korea.
“We are eager to bring our current business model to the East Coast,” said Preston “Cinco” Plumb, President and CEO. “While we actively sell laboratory equipment across the country and worldwide through online auctions, we will be able to better serve the Eastern Coast biotech community with a physical showroom facility. This funding is instrumental in enabling businesses to expand into major biotech hubs, such as Boston. “That’s right.
“BioSurplus meets an unmet need in the biotech industry,” said Stan Sewitch, founder and one of the five directors of KI Investment Holdings. “BioSurplus, through its commitment to offer solutions for every stage of the laboratory equipment life cycle, from purchase and sale to equipment management and valuation services, provides optimal solutions for the national and global biotech community. Our firm invests in strong long-term business models that can grow profitably and create middle-class careers. BioSurplus is perfectly suited to our investment strategy “That’s right.
Since 2002, BioSurplus has put together a team of scientific experts to provide leading-edge solutions for every stage of the lab equipment lifecycle. From providing dynamic inventory websites, live and online auctions, developing software solutions that enable customers to manage their own equipment, offering turnkey solutions for the sale of surplus assets, BioSurplus is committed to maximizing the value and use of laboratory equipment for its customers. To this end, it has become a leading supplier of pre-owned laboratory tools and equipment management services.
BioSurplus is headquartered in San Diego and has large showrooms in San Diego, San Francisco Bay and Korea. BioSurplus provides services nationally and sells equipment worldwide. For more information, please visit the corporate website at