By RTT News, June 18, 2013, 07:14:00 AM EDT
(RTTNews.com) – Techne Corp. ( TECH ) announced it has agreed to acquire 100% ownership of Bionostics Holdings Limited and its operating subsidiary Bionostics Inc. Bionostics, based in Devens, Massachusetts, will be acquired for $104 million in cash, subject to adjustment following closing based on the final level of working capital of Bionostics. Techne Corp. expects the acquisition to be slightly accretive to its fiscal 2014 net earnings.
Bionostics is a global leader in the development, manufacture and distribution of control solutions that verify the proper operation of in vitro diagnostic devices primarily utilized in point of care blood glucose and blood gas testing.
Bionostics and Techne’s Hematology Division will collectively operate under a new Clinical Controls Division of R&D Systems after close of the transaction.
Read more via Techne Corp. To Buy Bionostics