Bio-Techne, a Minneapolis life sciences firm with 500,000 products, to be sold to German company for $11.3 billion
A German company that provides products and services that accelerate drug development and manufacturing is set to acquire the Minneapolis-based group Bio-Techne, according to a news release posted Thursday.
Bio-Techne, according to company officials, has provided over 500,000 products to researchers, biopharmaceutical and biotechnology companies and clinical diagnostic laboratories over the past 50 years in an effort to help the communities "reach better answers."
"Our science is set apart by our people, who drive our progress, and the breakthroughs we have enabled across cancer research, neuroscience, immunology, diabetes, and beyond," Bio-Techne's website says.
Merck KGaA, Darmstadt, Germany is acquiring Bio-Techne at $73 per share, which represents an enterprise value of $11.3 billion, according to the release.
"Bio-Techne is an outstanding fit that directly supports our strategic direction focused on delivering cutting-edge products and solutions across the entire industry value chain – from lab customers to those manufacturing in the biotech and pharmaceutical industries," Kai Beckmann, chairman of the executive board and group CEO of Merck KGaA, Darmstadt, Germany, said in a written statement.
Bio-Techne president and CEO Kim Kelderman said the transaction will help their customers take on challenges in science and health care and "improve outcomes worldwide."
Officials say Merck KGaA, Darmstadt, Germany "operates across life science, healthcare and electronics" and employs over 62,000 people. Around 3,100 people work for Bio-Techne, which operates in 34 locations around the world.
