Bio-Techne (TECH) Set To Acquire Space Import-Export

Bio-Techne Corporation (NASDAQ:TECH) , a global developer, manufacturer and seller of clinical diagnostic products, announced plans to acquire Space Import-Export, an Italy-based distribution company in the Life Sciences space, for an undisclosed sum.

Space Import-Export is a leading distributor of life science research products like reagents, antibodies, proteins, Elisa kits and vitro diagnostic products. The company provides its highly advanced services to customers, especially in the fields of Biomedical Research and Diagnostics.

Post acquisition, Bio-Techne will be able to utilize Space Import-Export’s extensive business network in Italy. The company also aims to establish a direct link with customers in the local markets.

This acquisition is expected to enhance Bio-Techne’s presence and visibility in greater Europe by making its products highly exclusive in the market. Bio-Techne intends to meet the demand of its increasing clientele through the utilization of Space Import-Export’s best-quality reagents and instrument solutions.

In the global scenario, data from Markets and Markets reveal that the molecular diagnostics market is estimated to grow at a CAGR of 9.3% to $9,333.8 million by 2020. Notably, the reagent sector of the molecular diagnostic market has accounted for the largest share of market growth in 2015. We believe that this buyout can be highly accretive for the joint companies if such trends continue in the days ahead.

Notably, Bio-Techne boosted its M&A pipeline with the acquisition of Zephyrus Biosciences on May 21. We believe Bio-Techne would strengthen its position across geographies through these takeovers and also leverage its high-end resolutions in the emerging markets.

Key Peers

ANI Pharmaceuticals Inc (NASDAQ:ANIP) , CytRx Corporation (NASDAQ:CYTR) and Fibrocell Science Inc (NASDAQ:FCSC) are top-performing stocks in the broader medical sector.