Sign in or Register

Already a member?

Sign in

Or sign in with your account on:

Not a member yet?



Equities – Your destination to connect with the growth investment community.

Techne Buying Bionostics from $104 Million

By  +Follow June 18, 2013 1:06PM
Tickers Mentioned:

Techne Corporation (TECH) said Tuesday morning that it has agreed to spend $104 million in cash to acquire Bionostics Holdings Limited and its operating subsidiary Bionostics, Inc., in a move to strengthen its hematology division. Minneapolis, Minnesota-based Techne is a developer and manufacturer of biotechnology products and hematology calibrators and controls, operating through its two subsidiaries, R&D Systems and R&D Systems Europe.

Devans, Massachusetts-based Bionostics is focused on developing, manufacturing and distributing quality control products for in vitro diagnostic, or IVD, devices mostly used in point of care blood glucose and blood gas testing. The company was founded in 1981.

Bionostics recorded about $29.3 million in revenue for its fiscal year ended August 31, 2012 with EBIDTA of approximately $9.4 million.

Bionostics recently launched coagulation device control products and is in the process of developing controls for cholesterol and hemoglobin A1c point-of-care-testing devices. HbA1c testing in regarded as the gold standard in measuring glycemic control in diabetes patients. The company is looking to capitalize in an ongoing shift of testing being done less frequently in the laboratory setting and more often in operating rooms, bedsides, clinics, homes, etc., known as point-of-care testing.

Techne expects the acquisition to be slightly accretive in fiscal 2014 earnings.

"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,” said Charles R. Kummeth, president and chief executive of Techne.

Subsequent to the closing of the transaction, expected in the first quarter of fiscal 2014, Bionostics and Techne’s hematology division will join forces in a new Clinical Controls Division of R&D Systems. Michael Thomas, the current CEO of Bionostics, will serve as a consultant to Techne “for a period” after the closing, according to Techne.

Shares of TECH, a relatively thinly traded stock, are ahead by 1.7 percent in Tuesday trading at $68.23 on light volume of 26,300 shares changing hands. So fare in 2013, shares are essentially flat, but have climbed from a 52-week low of $62.26 late on April 30.

For the third quarter of fiscal 2013, ended March 31, Techne reported earnings of $33.1 million, or 90 cents per share, on revenue of $80.99 million (down from sales of $83.62 million in the year prior quarter). Adjusted earnings were $32.46 million, or 88 cents per share, compared to $33.53, or 91 cents per share, in the same quarter of fiscal 2012.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer

Liked What You Read? Join Equities.com as a contributor and get eyeballs on your content FOR FREE!

Results for tech
25 Apr 15 23:03:42
$Tech ] Lizard Squad strikes again, takes down Tesla website and hijacks its Twitter account: Li... http://t.co/5hheiqYvU0 #news #nieuws
Rosner Stocks
25 Apr 15 09:54:23
$KB stock Ex-Div Date Click Here: http://t.co/8OWLaa5N7h Also See: $TECH $SMFG $TFX $AIG #stockmarket #tradeideas ~
25 Apr 15 09:37:37
$SINA stock 52Wk Low Click Here: http://t.co/8fBVutpfpV Also See: $TECH $ASPS $TOF $BAGR #stockmarket #tradeideas ~
25 Apr 15 09:04:06
$Tech ] Top 3 Apps to prevent your smartphone from being snooped.: Ultimate privacy Apps : Top t... http://t.co/6yd1gOpbdL #news #nieuws
Invest | Donate
25 Apr 15 06:52:23
@Chasing__Stars: $TDW stock EOD Data Click Here: http://t.co/aNdMUy4ZGG Also See: $DRI $TECH $XCLK $DTV #stockmarket #invest #stocks #tra…
Invest | Donate
25 Apr 15 06:37:44
@PolgarStocks: $TDW stock Company Info Click Here: http://t.co/Yiwo3DdblL Also See: $UBNT $BRT $TECH $IBM #stockmarket #invest #stocks #t…
Chasing Stars
25 Apr 15 06:35:54
$TDW stock EOD Data Click Here: http://t.co/RjuhcUKkWY Also See: $DRI $TECH $XCLK $DTV #stockmarket #invest #stocks #tradeideas ~
25 Apr 15 06:11:57
$TDW stock Company Info Click Here: http://t.co/qAJKH57DND Also See: $UBNT $BRT $TECH $IBM #stockmarket #invest #stocks #tradeideas ~
25 Apr 15 06:02:04
$Tech ] Lava launches Iris Alfa L with Android Lollipop 5.0, a 5.5 inch display and 8MP camera f... http://t.co/Wpwo1ebGF2 #news #nieuws
24 Apr 15 16:13:31
Bearish Engulfing http://t.co/ynhgjQ0tey $ULTI $MSTR $PII $LEA $MTN $TECH $ZBRA $CRI $RYT $KRFT $SEMG $HRS $NDSN $SNDK $FIS $FSLR $EWY $FRC
24 Apr 15 08:24:05
$Tech ] All new dual-boot flagship smartphone by Elephone is packed with Windows 10 and Android ... http://t.co/21oqZHvlOA #news #nieuws
24 Apr 15 03:39:03
$Tech ] Think you can hack Microsoft’s latest Spartan browser; Microsoft will give you $15000 fo... http://t.co/Dnp975w4Ok #news #nieuws
24 Apr 15 00:21:49
$Tech ] Researchers develop App to help users with arm paralysis operate smartphones: Researcher... http://t.co/JfhJLCSxFP #news #nieuws
23 Apr 15 19:05:00
$Tech ] Top Ten Simple and Useful Internet Tricks That You May Not Know: Internet Hack : Top 10 ... http://t.co/qpZvxRRWbq #news #nieuws
Capital Market Labs
23 Apr 15 18:43:42
$TECH Revenue is Growing. #CML_TECH #CML_Revenue http://t.co/Jt11ejCFTl http://t.co/uDWuuddVbr
Biotech Stocks
23 Apr 15 06:19:47
$TECH To Host Conference Call On May 5, 2015 http://t.co/GQng2nCUrH #biotechstocks #biotech #stocks
Breaking News Now
23 Apr 15 05:21:03
$TECH: Bio-Techne To Host Conference Call On May 5, 2015 To Announce ...: http://t.co/jXqfKnlODY
23 Apr 15 02:43:18
$Tech ] Lenovo launches A5000 Smartphone with 5-Inch HD Display and 4000mAh Battery: Lenovo A500... http://t.co/DRI2vtEwpD #news #nieuws
22 Apr 15 22:06:45
$Tech ] Google rolls out its new wireless cellular service: The Internet search giant’s network ... http://t.co/NOpJWcXITc #news #nieuws
Regular Gym Goer
22 Apr 15 10:15:29
@milkohol @admiral_baby okay i now defer to your $tech Opinions
computing pro ✌️
22 Apr 15 09:58:17
@admiral_baby my $tech #opinion on chrome is that it's bad
22 Apr 15 07:14:03
$Tech ] Google celebrates Earth Day 2015 with its new Google Doodle quiz that tells “which anima... http://t.co/kwc4IQYdfu #news #nieuws
22 Apr 15 03:44:15
$Tech ] Lenovo A6000 Plus vs Motorola Moto E (2nd Gen) 4G vs Micromax Canvas Spark; a comparativ... http://t.co/t3jbOOzC54 #news #nieuws
22 Apr 15 02:53:33
$TECH Yield Click Here: http://t.co/C9BP0dmXtr Also See: $CGUSY $XCTGF $KMNCF $ASWRF ~
Investors Hangout
22 Apr 15 01:32:35
$ZTMUF Chart Click Here: http://t.co/TrY6IWFSjv Also See: $ARCO $TECH $CWNM $DWMNF ~
SGT GФФGLЗ ▌│█│ ▌‏ن
22 Apr 15 01:30:26
$User: I haven't gotten ANY EMAILS this morning! Fix it! $Tech: You're looking in your Sent Items folder. Here are your emails in the INBOX
21 Apr 15 22:51:09
$Tech ] WhatsApp calling comes to iPhones, WhatsApp updates iOS App with voice calling feature: ... http://t.co/DrHOVfduJr #news #nieuws
21 Apr 15 16:40:34
TECH Stock 101.78 Techne Corp $TECH Hit a 52 week high of 102.85 Closing the day 04/21/15 at 101.78 +0.03 +0.0 http://t.co/K3RkbhuVDC
21 Apr 15 16:40:12
$TECH TECH 101.78 Techne Corp $TECH Hit a 52 week high of 102.85 Closing the day 04/21/15 at 101.78 +0.03 +0.03% Wit http://t.co/lad3gsEWrW
21 Apr 15 15:04:03
21 Apr 15 13:01:12
MidCap #Stocks Trend $FTNT $SBNY $ALGN $ACIW $STLD $KATE $TYL $EQIX $AKRX $SEIC $LPNT $SLM $IM $TECH $CYH @ http://t.co/H27z0JgFGk
21 Apr 15 11:03:51
$Tech ] Should Robots be allowed to kill humans?: Should Killer Robots be allowed to kill humans... http://t.co/Y00B0oEnRH #news #nieuws
21 Apr 15 08:52:59
MidCap #Stocks Trend $FTNT $SBNY $AKRX $STLD $SLM $EGN $TECH $LPNT $SEIC $SIRO $WTR $ARRS $CIEN $CYT $CYH @ http://t.co/H27z0IZ4hK
21 Apr 15 07:33:03
$Tech ] Google to help hunters find Loch Ness monster with Google Maps Nessie page: Google using... http://t.co/NeUmPIgC5e #news #nieuws
21 Apr 15 02:34:12
$Tech ] Appeals court rejects man’s claim that he owns half of Facebook: Fugitive fails to prove... http://t.co/GVts0SaqT1 #news #nieuws
20 Apr 15 16:03:13
MidCap #Stocks Trend $KN $DDD $CYT $AKRX $SEIC $CIEN $SIRO $EGN $NDSN $ARRS $BC $PNRA $THOR $ACIW $TECH $LPNT @ http://t.co/H27z0IZ4hK
20 Apr 15 15:17:38
20 Apr 15 13:01:28
MidCap #Stocks Trend $DDD $KN $SEIC $EGN $NDSN $LPNT $ARRS $PNRA $CYT $AKRX $SLAB $DWA $TECH $FCS $SLM $ARW @ http://t.co/H27z0IZ4hK
20 Apr 15 11:53:47
$Tech ] Google Play Hackers Racked Up Thousands of Dollars in My Account Says US Woman: US Woman... http://t.co/wtuBHgUmCV #news #nieuws
20 Apr 15 07:05:28
Baird analyst Jeffrey Elliott target changes: Bio-Techne $TECH to $108 from $104; Thermo Fisher Scientific $TMO to $148 from $144.
20 Apr 15 03:03:09
Weekly MidCap #Stocks Trend $PNRA $SM $GPOR $TECH $FCS $CYH $UNT $DWA $ISCA $DDD $EGN $JDSU $AKRX $CIEN $ARRS @ http://t.co/H27z0IZ4hK
20 Apr 15 02:59:10
$Tech ] Hackers using startling new ways to steal your passwords: An alarming new way to steal y... http://t.co/MhHudYyimz #news #nieuws
19 Apr 15 10:09:00
$Tech ] When the hell is Cheryl’s birthday? : A math problem from Singapore goes viral: A math p... http://t.co/r41J2AhwmS #news #nieuws
18 Apr 15 23:29:03
$Tech ] WhatsApp v2.12.45 for Android now lets you back up your conversations on Google Drive: W... http://t.co/CHXQvfq7Oo #news #nieuws
18 Apr 15 10:59:12
$Tech ] Project Loon : Google ready to fly thousands of Balloons to bring you Internet access: ‘... http://t.co/bonB4VspbH #news #nieuws
18 Apr 15 07:19:16
18 Apr 15 06:30:37
$Tech ] Android 5.1.1 Lollipop update spotted on Google’s own site, may be released by end April... http://t.co/6KHkmfTBic #news #nieuws
Inventor  Engin
18 Apr 15 03:47:38
RT @FierceMedDev: Techne (R&D Systems) announces the resignation of CFO Gregory Melsen http://t.co/kbLjzWmxpx $TECH #fiercecl (Press Releas…
18 Apr 15 03:03:48
Weekly MidCap #Stocks Trend $PNRA $SM $GPOR $TECH $FCS $CYH $UNT $DWA $ISCA $DDD $EGN $JDSU $AKRX $CIEN $ARRS @ http://t.co/H27z0IZ4hK
17 Apr 15 22:26:47
$Tech ] Afraid of your computer getting hacked; try these top 10 simple steps to secure desktop ... http://t.co/Zz7Hvwg3hw #news #nieuws
By  +Follow June 18, 2013 1:06PM



blog comments powered by Disqus

About us

Equities.com is the most advanced interactive online social ecosystem for the financial industry, serving as a resource center and next-generation communication platform that connects self-directed investors with public issuers, market experts, and professional service providers and vendors. Registered members can leverage our exclusive proprietary research tools such as the Small-Cap Stars, which outperformed 90% of all small-cap mutual funds, and robust do-it-yourself E.V.A. research reports. The Equities.com Issuer Dashboard is the ideal tool to communicate and manage investor awareness campaigns to the investment community, as well as to access valuable resources to help your company grow.

Market Data powered by QuoteMedia.
Copyright © QuoteMedia. Data delayed 15 minutes unless otherwise indicated. Terms of Use.