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US BioTek Acquiring RealTime Laboratories

NEW YORK – US BioTek Laboratories said Tuesday that it is acquiring Dallas-based mycotoxin testing specialty lab RealTime Laboratories for an undisclosed amount.

According to Shoreline, Washington-based US BioTek, the deal expands the capabilities and footprint of the combined organization and will accelerate the development of new tests.

RealTime is a CAP- and CLIA-accredited clinical and environmental diagnostic laboratory that specializes in testing for and identifying hazardous toxins from mold in humans, houses, and animals, as well as infectious diseases.

"By joining forces, we can provide our clients with a more comprehensive suite of diagnostic testing services," US BioTek CEO Jack Frausing said in a statement. "It will also position us for continued growth, innovation, and expansion of our test portfolio in the years to come. We are confident that it will benefit our clients, their patients, and our employees."

"This marks an exciting opportunity for RealTime and its employees," RealTime CEO Dave Murcott said in a statement. "By combining forces with another leading provider of specialty medical testing services, it allows us the ability to expand our services and reach a wider audience."

Both labs will continue operations at their respective locations in the Seattle and Dallas areas.