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:6/27/2016)... NC (PRWEB) , ... June 27, 2016 , ... ... mission to bring innovative medical technologies, services and solutions to the healthcare market. ... and implementation of various distribution, manufacturing, sales and marketing strategies that are necessary ...
(Date:6/24/2016)... SAN DIEGO , June 24, 2016 /PRNewswire/ ... that more sensitively detects cancers susceptible to PARP ... individual circulating tumor cells (CTCs). The new test ... of HRD-targeted therapeutics in multiple cancer types. ... therapies targeting DNA damage response pathways, including PARP, ...
(Date:6/23/2016)... , June 23, 2016   Boston ... of novel compounds designed to target cancer stemness ... has been granted Orphan Drug Designation from the ... treatment of gastric cancer, including gastroesophageal junction (GEJ) ... inhibitor designed to inhibit cancer stemness pathways by ...
(Date:6/23/2016)... , June 23, 2016  The Prostate Cancer Foundation (PCF) is ... treatments and faster cures for prostate cancer. Members of the Class of 2016 ... countries. Read More About the Class of 2016 PCF ... ... ...
Breaking Biology Technology:
(Date:6/21/2016)... 2016 NuData Security announced today that Randy ... principal product architect and that Jon Cunningham ... development. Both will report directly to Christopher ... reflect NuData,s strategic growth in its product and ... demand and customer focus values. ...
(Date:6/16/2016)... June 16, 2016 The ... expected to reach USD 1.83 billion by 2024, ... Research, Inc. Technological proliferation and increasing demand in ... expected to drive the market growth. ... The development of advanced multimodal techniques for ...
(Date:6/9/2016)...  Perkotek an innovation leader in attendance control systems is proud to announce the ... employers to make sure the right employees are actually signing in, and to even ... ... ... ...
Breaking Biology News(10 mins):