Bio-Techne Corporation Comprehensive Report
Overview
Bio-Techne Corporation is a leading entity in the biotechnology sector, specializing in developing, manufacturing, and providing high-quality reagents, analytical instruments, and precision diagnostics. Established in 1976, the company is headquartered in Minneapolis, Minnesota, USA. Initially known as Research and Diagnostic Systems, Inc., it was rebranded as Techne Corporation until 2014. Bio-Techne is publicly listed on NASDAQ under the ticker TECH and belongs to the S&P 500 index.
Financial Highlights for Fiscal Year 2024
- Revenue: $1.16 billion
- Operating Income: $207 million
- Net Income: $168 million
- Total Assets: $2.70 billion
- Total Equity: $2.07 billion
Workforce and Brand Ecosystem
Bio-Techne employs approximately 3,100 people as of 2024. The company enhances research capabilities with a range of brands such as R&D Systems, Novus Biologicals, Tocris, ProteinSimple, and Advanced Cell Diagnostics, which facilitate comprehensive solutions in life sciences and clinical diagnostics.
Leadership and Management Team
The leadership of Bio-Techne consists of key personnel dedicated to driving innovation and expansion:
- Kim Kelderman: President and CEO since February 2024, previously with leadership experience at Thermo Fisher Scientific.
- Jim Hippel: Executive Vice President and CFO since April 2014, with a distinguished finance track record at Mirion Technologies and Honeywell International.
- Will Geist: President of the Protein Sciences Segment, with experience from Quanterix and Thermo Fisher Scientific.
- Matthew McManus: President of Diagnostics and Genomics, formerly with Azenta and Asuragen.
- Additional executives contributing to various specialties include Shane Bohnen (General Counsel), Bernie Andruss (Diagnostics), Cheryl Bethune (HR), Qi Cheng (Quality and Regulatory), Steve Crouse (Analytical Solutions), Evett Kruka (Spatial Biology), Gary Latham (CTO), Dylan Malayter (Reagent Solutions), Dr. Peter Schuessler (EMEA), Steven Silverman (Customer Experience), and Martin Wirtz (Strategy).
Strategic Developments and Acquisitions
Bio-Techne has broadened its market presence through strategic acquisitions:
- Novus Biologicals acquired for $60 million in July 2014.
- ProteinSimple acquired for $300 million in August 2014.
- Advanced Cell Diagnostics acquired for up to $325 million in August 2016.
- Exosome Diagnostics acquired for up to $575 million in August 2018, including milestone payments.
- Asuragen acquired for up to $320 million in April 2021, including milestone payments.
In 2023, Bio-Techne expanded further into the bioprocessing markets with the acquisition of Lunaphore Technologies SA.
Corporate Vision and Mission
Bio-Techne is committed to advancing scientific research through precision diagnostics and life science tools, with a focus on enhancing its e-commerce platform, customer experience, and sustainability initiatives. Visit their website at [bio-techne.com](https://www.bio-techne.com/).
Competitor Profiling for Bio-Techne
Competitors Overview
In the competitive landscape of life sciences, Bio-Techne faces significant competition from:
- Thermo Fisher Scientific Inc.: A global leader with a revenue of approximately $40 billion and a workforce of 130,000, providing extensive services and products in medical research and life sciences.
- PerkinElmer Inc.: With 6,000 employees, this company offers technology solutions in life sciences and environmental analysis, emphasizing lab service solutions.
- GE HealthCare: Known for its precision health technologies, it employs 50,000 people and utilizes its Edison platform to enhance diagnostics and patient care.
- Agilent Technologies Inc.: Specializing in life sciences, diagnostics, and applied chemical markets, Agilent reported $6.85 billion in revenue and maintains a workforce of over 17,000.
- MilliporeSigma: A division of Merck KGaA, it competes robustly through innovation in the biotech sector.
Market Positioning and Strategic Insights
Bio-Techne leverages niche segments in life sciences with a concentrated focus on innovative bioactive reagents and research tools aimed primarily at academic and clinical research. Continuing investments in R&D and collaborations with emergent biotech firms are pivotal for their competitive stance against larger entities like Thermo Fisher and GE HealthCare. Expanding and diversifying its product offerings in alignment with market demands while utilizing its established life sciences framework are vital for sustained growth and market penetration.
