Member In Focus
January 2025
Nova Scotia's Hidden Gem: Precision BioLogic's Global Impact in Medical Diagnostics

When Paul Empey was hired to be a consultant at Precision BioLogic, he had no idea he would one day become the company’s President and CEO. Originally from Boston, Empey had worked with a line-up of successful entrepreneurs, including John Risley of Clearwater Seafoods and Louis Deveau of Acadian Seaplants. He brought with him both ambition and enthusiasm.
Empey was hired to make recommendations for the 42-year-old company that specializes in frozen diagnostic products for bleeding and clotting disorders, its challenges, and its opportunities for growth. Turns out, the Board of Directors was so impressed with Empey’s innovative ideas that they offered him the top job.
That was a decade ago. Since then, there’s been massive product development, a fully executed strategic plan, the acquisition of another company—Affinity Biologicals in Ancaster, ON—plus sustained growth year after year.
“Our company is founded on the principles of respect, cooperation, collaboration, compassion, and accountability,” says Empey. “And it’s these values in action that have led to our success.” Indeed. Precision BioLogic is known the world over and has become synonymous with the ability of hemostasis labs to deliver timely and accurate results.
The key to Precision BioLogic’s success is their cryocheck™ brand of frozen hemostasis diagnostic products. “All our customers need to do is go to the freezer, pull out one of our products, thaw it, and within minutes it’s ready to use,” says Jon Geske, the company’s Chief Scientific Officer. “It’s incredibly fast and efficient.”

Jon Geske – Chief Scientific Officer
The customers that Geske is referring to are large laboratories in North America, Australia, New Zealand, Europe, and Asia, all of which have very strict regulatory and quality requirements. This means that Precision BioLogic has to invest in research and clinical studies before they can even submit a product to the regulatory body of each country (the FDA in the States or Health Canada here). “This is one of the reasons not everyone chooses to be a diagnostic company,” says Geske. “It takes a lot of time and intention to get to where we are.”
The company also needs to stay on top of the evolving needs of the laboratories and clinicians who use Precision BioLogic’s products. “Enhancing patient care is at the core of everything we do,” says CEO Empey. “ So, we love it when we hear back from our customers about what is working, what they struggle with, and what they actually need on the ground.”
In order to meet those needs, Precision BioLogic is continuing its expansion. In fact, there is the potential for huge growth on the horizon due to recently being acquired by Procuritas Capital Investors in Sweden. A private equity investor, focused on investing in and growing mid-market companies, Procuritas helps to build strong and sustainable businesses around the world. “They saw what we were doing, recognized our success, and decided to invest and continue to help us grow,” says Empey. “They are bringing a whole new level of excitement and potential to the future growth of our company.”
For instance, this year Precision BioLogic is adding 8000 square feet to its Dartmouth facility, headquarters for the company that employees 78 people and that happily calls Nova Scotia home. The fact that the province is a hotbed of bioscience has really benefitted the company. But when you add the other elements that Nova Scotia has to offer, it’s an unbeatable combination. “We love that we live and work in a place where it’s possible to have a wonderful quality of life, hire fantastic employees, and still have a world-wide reach,” says Geske.
Empey agrees. “Nova Scotia is a real hidden gem,” he says. “One of the big benefits of working in a less densely populated area is that the workforce feels more like family. We’ve got that in spades and are so grateful to our employees for their commitment and hard work.”
The next phase of Precision BioLogic’s strategic planning is to embrace bigger, more cutting-edge opportunities that carry more risk. “With risk comes reward,” says Empey. “Our hope over the next few years is to double in size by building on our history of excellence and our solid foundation.”
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