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Techne Corp Announces Acquisition Agreement


Tuesday, 18 Jun 2013 07:00am EDT 

Techne Corp announced that it has agreed to acquire 100% ownership of Bionostics Holdings Limited and its operating subsidiary Bionostics, Inc. (Bionostics). Bionostics is engaged in the development, manufacture and distribution of control solutions that verify the proper operation of in vitro diagnostic (IVD) devices primarily utilized in point of care blood glucose and blood gas testing. Biosnostics has strategic supply relationships with virtually all global IVD device Original Equipment Manufacturers (OEMs). The transaction is expected to close in the first quarter of fiscal 2014, subject to the satisfaction of customary closing conditions, including the expiration or early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976. The acquisition is not subject to any financing contingencies. Techne, through its subsidiaries R&D Systems and R&D Systems Europe,is engaged in the development, manufacture and sale of biotechnology products and hematology calibrators and controls. Bionostics and Techne's Hematology Division will collectively operate under a new Clinical Controls Division of R&D Systems after close of the transaction. 

Company Quote

85.62
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3:32pm EDT