Garden Grove-based Hycor Biomedical Inc. said Wednesday that it’s moving its headquarters from Garden Grove to an undisclosed location in central Indiana, according to a report in the Indianapolis Star.
Hycor makes and sells tests for autoimmune diseases, allergies and urinalysis for clinical laboratories, hospitals and doctors’ offices.
The company was offered up to $640,000 in performance-based tax credits by Indiana state officials based on its job creation plans, the newspaper reported. Hycor's move will create 12 jobs by the end of this year and up to 20 potential jobs by 2013, according to the Star.
Besides the economic incentives, Indiana’s "central location" led Hycor to relocate, said Richard Aderman, Hycor’s chief executive, in a statement from the Indiana Economic Development Corp.
Hycor was once among Orange County’s smaller publicly traded companies. It was then sold to a pair of companies before being bought by Linden LLC, a Chicago private equity firm, in 2010.