A previous biotechnology company focused on a chemistry-driven approach to target microbiomes to treat disease and improve health.
All operations within a biotechnology company were being shut down, resulting in a range of lab assets that needed to be cleaned, removed, and sold. The seller had no process in place to properly prepare the assets for disposition and EquipNet’s team had to manage all needs, including the inventory, cleaning, decommissioning, transportation, marketing, and sales of the assets.
Inventory included over 450 pieces of lab and analytical equipment including Mass Spectrometers, Cytometers, Gas Chromatographs, HPLCs, UPLCs, Liquid Handling Systems, PCR Thermal Cyclers, Centrifuges, Microplate Readers, and much more.
EquipNet needed to clear the facility as soon as possible to ensure the client’s expectations were met.
EquipNet’s expert team performed an onsite inventory and validation of all the assets, powered down all the systems, and began assessing each item to determine the cleaning needs. Since the equipment had not been used in some time, there was no concern of dangerous pollutants or chemicals. A specific cleaning solution was special ordered by EquipNet and all equipment was thoroughly washed and wiped down.
Once the cleaning and decommissioning process was complete, the equipment was transported to EquipNet’s warehouse to be placed on consignment.
The assets were uploaded onto EquipNet’s online global MarketPlace, and sales and marketing efforts began. To expedite the sales process, a dedicated online auction event was planned after a number of assets sold on the MarketPlace.
EquipNet cleared the client’s facility within the set timeframe along with powering down all systems and providing a thorough cleaning of each piece of equipment. Through EquipNet’s Proactive Asset Sales, over 45 listings were sold for a total return of over $930,000. The dedicated auction event brought in 290 bidders from over 25 countries across the globe, with sales totaling $900,000. The client recouped close to $2 million in total sales, resulting in a successful ROI from the closure.