Techne has completed the acquisition of Bionostics Holdings and its operating subsidiary Bionostics for approximately $104m in cash.
Bionostics is a developer and manufacturer of control solutions that verify the correct operation of in-vitro diagnostic (IVD) devices mainly utilised in point of care blood glucose and blood gas testing. Also, it has formed strategic supply relationships with almost all global IVD device original equipment manufacturers (OEMs).
Techne, which owns subsidiaries R&D Systems and R&D Systems Europe, is into the development, manufacture and sales of biotechnology products and hematology calibrators and controls.
Following the closure of the transaction, Bionostics and Techne’s hematology divisions will now together operate under a new Clinical Controls Division of R&D Systems.
Founded in 1981, Bionostics is based in Devens, Massachusetts. Its controls are device-specific formulations that need 510(k) clearance from the US FDA.
Recently, Bionostics introduced coagulation device control products and is currently developing new controls for other growing diagnostic uses, especially cholesterol and HbA1c point-of-care testing (POCT) devices.