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Slide #61. Techne Corporation — Bionostics Holdings Limited
Techne Corporation (NASDAQ:TECH)
Bionostics Holdings Limited
Techne Corporation (NASDAQ: TECH) (Techne) announced today that it has agreed to acquire 100% ownership of Bionostics Holdings Limited and its operating subsidiary Bionostics, Inc. (Bionostics). 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. 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.
Bio-Techne and its subsidiaries develop, manufacture and sell life science reagents, instruments and services for the research and clinical diagnostic markets.Co.'s segments include: Protein Sciences, which developes and manufactures purified proteins and reagent solutions, cytokines and growth factors, antibodies, immunoassays, biologically active small molecule compounds, tissue culture reagents and T-Cell activation technologies; and Diagnostics and Genomics, which develops and manufactures diagnostic products, including Food and Drug Administration-regulated controls, calibrators, blood gas and clinical chemistry controls and other reagents for Original Equipment Manufacturer.
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Strong Buy (3.56 out of 4)