Techne to Acquire Bionostics Holdings for $104 million
| Printer friendly version
According to Daily Finance’s Investor Center and a press release from Techne Corporation, medical device manufacturer Techne Corporation is set to acquire a 100% ownership stake in Devens, Massachusetts-based Bionostics Holdings Limited and its operating subsidiary Bionostics, Inc. for $104M in cash. Closing of the transaction is anticipated to occur in the first quarter of fiscal 2014.
According to Techne’s website, Techne develops, manufactures, and sells biotechnology products and hematology calibrators and controls. According to Bionostics’ website, Bionostics develops, manufactures, and distributes control solutions that verify the proper operation of in vitro diagnostic devices, applied primarily to point of care blood glucose and blood gas testing. According to the press release, after the close of the transaction, Bionostics and Techne’s Hematology Division will collectively operate under a new Clinical Controls Division of Techne’s R&D Systems.
Regarding the acquisition, Techne President and CEO Charles Kummeth said:
“We are delighted to add the Bionostics team to our Hematology division. This business is how Techne R&D Systems was founded some 30 years ago and remains thriving today. The addition of Bionostics adds capabilities in exciting new areas like coagulation and expands our controls portfolio, giving us the critical mass we need to remain competitive and offer our customers continued value and options to serve their needs.”
By using this blog, you agree and understand that no information is being provided in the context of any attorney-client relationship. You further agree and understand that nothing herein is intended to be legal advice. This blog is solely informational in nature, and is not intended as, and should not be used as, a substitute for competent legal advice from a retained and licensed attorney in your state. Knobbe Martens LLP makes no representations or warranties as to the accuracy, completeness, timeliness or availability of the information in this blog. Knobbe Martens LLP will not be liable for any injury or damages relating to your use of, or access to, any such information. Knobbe Martens LLP undertakes no obligation to correct or update information on this blog, which may be incorrect or become incorrect or out of date over time. Knobbe Martens LLP reserves the right to alter or delete content or information on the blog at any time. This blog contains links and references to other websites and publications that you may find of interest. Knobbe Martens LLP does not control, promote, endorse or otherwise have any affiliation with any other websites or publications unless those websites or publications expressly state such an affiliation. Knobbe Martens LLP further has no responsibility for, and makes no representations regarding, the content, accuracy or any other aspect of the information in such websites or publications.