Navigation Links
Techne Corporation Announces Acquisition Completion
Date:7/22/2013

MINNEAPOLIS, July 22, 2013 /PRNewswire/ -- Techne Corporation (NASDAQ: TECH) (Techne) announced today that it has finalized its previously announced acquisition of Bionostics Holdings Limited and its operating subsidiary Bionostics, Inc. (Bionostics). Bionostics was acquired for approximately $104 million in cash, subject to adjustments following closing based on the final level of working capital. 

Bionostics is a global leader 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.  Bionostics has strategic supply relationships with virtually all global IVD device Original Equipment Manufacturers (OEMs).

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.

Bionostics was founded in 1981 and is based in Devens, Massachusetts.  Its controls are proprietary device-specific formulations which require FDA 510(k) approval.  Like the products made by R&D Systems' Clinical Controls Division, each control is also a component of the OEM's 510(k), making Bionostics' controls integral to each diagnostic device.  Controls for blood glucose and blood gas devices are the largest portion of Bionostics' business.  Bionostics recently launched coagulation device control products and is developing new controls for other growing diagnostic uses, particularly controls for cholesterol and HbA1c point-of-care testing (POCT) devices.

Fredrikson & Byron, P.A. served as legal counsel to Techne.

TECHNE Corporation and Subsidiaries (the Company) are engaged in the development, manufacture and sale of biotechnology products and hematology calibrators and controls. These activities are conducted through the Company's two operating subsidiaries: Research and Diagnostic Systems, Inc. (R&D Systems) of Minneapolis, Minnesota and R&D Systems Europe, Ltd. (R&D Europe) of Abingdon, England. R&D Systems is a specialty manufacturer of biological products. R&D Systems has three subsidiaries: BiosPacific, Inc. (BiosPacific), located in Emeryville, California, Boston Biochem, Inc., located in Cambridge, Massachusetts, and R&D Systems China Co. Ltd., (R&D China), located in Shanghai, China. BiosPacific is a worldwide supplier of biologics to manufacturers of in vitro diagnostic systems and immunodiagnostic kits. Boston Biochem is a leading developer and manufacturer of ubiquitin-related research products. R&D China and R&D Europe distribute biotechnology products. R&D Europe has two subsidiaries: Tocris Holdings Ltd. (Tocris) of Bristol, England and R&D Systems GmbH, a German sales operation. Tocris is a leading supplier of chemical reagents for non-clinical life science research.


'/>"/>
SOURCE Techne Corporation
Copyright©2012 PR Newswire.
All rights reserved

Related biology technology :

1. Techne Corporation Declares Dividend
2. Techne Corporation Declares Dividend And Announces An Increase In Its Share Repurchase Program
3. US Radiopharmaceuticals (USR) Awards Contract to Von Gahlen International for New Technetium-99m Generator Production Line Using Low Enriched Uranium Molybdenum-99
4. Techne Corporation Releases Unaudited Third Quarter And Nine Month Fiscal Year 2013 Results
5. Techne Corporation Announces Acquisition Agreement
6. China Cord Blood Corporation to Report Second Quarter and First Half of Fiscal 2012 Financial Results
7. Kensey Nash Corporation Announces Achievement of $6 Million Milestone From Spectranetics Corporation
8. China Cord Blood Corporation Announces Results of 2011 Annual General Meeting
9. Neogen Corporation Announces 2nd Quarter Results Conference Call
10. Luminex Corporation to Present at JP Morgan Healthcare Conference
11. Luminex Corporation Fourth Quarter and Full Year 2011 Earnings Release Scheduled for February 6, 2012
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/23/2016)... 2016 Houston Methodist Willowbrook Hospital has ... Association to serve as their official health care ... Willowbrook will provide sponsorship support, athletic training services, ... coaches, volunteers, athletes and families. "We ... Association and to bring Houston Methodist quality services ...
(Date:6/23/2016)... 23, 2016   EpiBiome , a precision microbiome ... in debt financing from Silicon Valley Bank (SVB). The ... to advance its drug development efforts, as well as ... "SVB has been an incredible strategic partner to ... traditional bank would provide," said Dr. Aeron Tynes ...
(Date:6/23/2016)... Ky. , June 23, 2016 ... two Phase 1 clinical trials of its complement ... placebo-controlled, single and multiple ascending dose studies designed ... pharmacodynamics (PD) of subcutaneous injection in healthy adult ... subcutaneously (SC) either as a single dose (ranging ...
(Date:6/23/2016)... ... 23, 2016 , ... ClinCapture, the only free validated electronic ... showcase its product’s latest features from June 26 to June 30, 2016 for ... Disrupting Clinical Trials in The Cloud during the conference. DIA (Drug Information ...
Breaking Biology Technology:
(Date:4/28/2016)... , April 28, 2016 Infosys ... (NYSE: INFY ), and Samsung SDS, a global ... that will provide end customers with a more secure, fast ...      (Logo: http://photos.prnewswire.com/prnh/20130122/589162 ) , ... but it also plays a fundamental part in enabling and ...
(Date:4/26/2016)... DUBLIN , April 27, 2016 ... of the  "Global Multi-modal Biometrics Market 2016-2020"  report ... ) , The analysts forecast ... a CAGR of 15.49% during the period 2016-2020.  ... a number of sectors such as the healthcare, ...
(Date:4/15/2016)... 15, 2016 Research and ... Biometrics Market 2016-2020,"  report to their offering.  , ... , ,The global gait biometrics market is expected ... the period 2016-2020. Gait analysis generates ... be used to compute factors that are not ...
Breaking Biology News(10 mins):