Lifecore Biomedical Receives Accelerated Payment of Remaining $10 Million in Proceeds From Prior Equipment Sale
Lifecore Biomedical, Inc. recently announced it has received the remaining $10 million in proceeds from the previously disclosed sale of its excess high-speed, multi-purpose 10-head isolator filler. The buyer elected to complete the full payment ahead of schedule, opting to deliver the remaining balance as a lump sum rather than over the originally agreed 18-month installment plan. Lifecore had previously received $7 million at the close of the $17 million transaction in early 2025.
“This welcome development further strengthens our balance sheet and underscores the disciplined capital management approach we are applying across the business,” said Ryan D. Lake, chief financial officer of Lifecore. “Combined with the recent installation of our high-speed 5-head filler, which supports up to $300 million in annual revenue generating capacity, this accelerated payment adds to the positive momentum we are building as we execute our long-term growth strategy. We remain focused on optimizing operations, aligning investments with strategic priorities, and delivering sustainable value to our customers and shareholders.”
As announced in January 2025, Lifecore sold the uninstalled 10-head isolator filler to a non-competitive buyer for $17 million, aligning its capital assets with operational and commercial needs.
Lifecore Biomedical, Inc. (Nasdaq: LFCR) is a fully integrated contract development and manufacturing organization (CDMO) that offers highly differentiated capabilities in the development, fill and finish of sterile injectable pharmaceutical products in syringes, vials, and cartridges, including complex formulations. As a leading manufacturer of premium, injectable-grade hyaluronic acid, Lifecore brings more than 40 years of expertise as a partner for global and emerging biopharmaceutical and biotechnology companies across multiple therapeutic categories to bring their innovations to market. For more information about the company, visit Lifecore’s website at www.lifecore.com.
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