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:1/24/2017)... (PRWEB) , ... January 24, 2017 , ... ... waist circumference, and increased serum leptin levels had a positive association with increased ... The study published in the International Neurourology Journal involved 571 Korean men ...
(Date:1/24/2017)... & Geneva, Switerland (PRWEB) , ... January 24, ... ... announce the first commercially available malaria Plasmodium falciparum culture panels with standard concentrations ... culture panels, which are available in a range of concentrations from six different ...
(Date:1/24/2017)... LAVAL, QC , Jan. 24, 2017 /PRNewswire/ - ProMetic ... the "Corporation") announced today that its orally active lead ... Medicine ("PIM") designation by the UK Medicines and Healthcare ... Syndrome ("AS"). A PIM designation is ... promising candidate for the Early Access to Medicines Scheme ...
(Date:1/24/2017)... ... 23, 2017 , ... Edward Buckler, Ph.D., a research geneticist ... Academy of Sciences Prize in Food and Agriculture Sciences. He is being honored ... Academy of Sciences (NAS) Prize in Food and Agriculture Sciences was established in ...
Breaking Biology Technology:
(Date:12/16/2016)... --  IdentyTechSolutions America LLC , a leading provider ... a cutting-edge manufacturer of software and hardware security ... integrated solutions that comprise IDT biometric readers and ... IdentyTech,s customers with combined physical identification and anti-tailgating ... theft. "We are proud to use ...
(Date:12/15/2016)... -- ... Research and Markets has announced the addition of the "Global Military ... report forecasts the global military biometrics market to grow at a CAGR ... been prepared based on an in-depth market analysis with inputs from industry ... the coming years. The report also includes a discussion of the key ...
(Date:12/8/2016)... Dec. 8, 2016 Market Research Future published a half ... global Mobile Biometric Security and Service Market is expected to grow ... Market Highlights: ... , Mobile Biometric Security and ... the increasing need of authentication and security from unwanted cyber threats. ...
Breaking Biology News(10 mins):