January 3, 2017 / 9:38 PM / in 7 months

BRIEF-Biolife Solutions restructures biologistex joint venture

1 Min Read

Jan 3 (Reuters) - Biolife Solutions Inc

* Biolife Solutions restructures biologistex joint venture

* Biolife Solutions Inc - Biolife will convert its outstanding loan to JV into a capital contribution

* Announced restructuring of its biologistex CCM LLC joint venture formed with SAVSU Technologies LLC

* Biolife Solutions Inc - SAVSU will contribute all of its cold chain related operations, technology, IP and assets to JV

* Biolife Solutions Inc - Mike Rice, Biolife CEO, will remain a member of JV's management committee

* Biolife Solutions - ownership interest in JV to initially be reduced from 52 pct to 45 pct; JV's operating results to no longer be consolidated with co's results

* Biolife Solutions - to market and sell EVO subscriptions, provide ongoing fulfillment, customer support for 20 pct commission on revenue from sales, marketing Source text for Eikon: Further company coverage:

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