Gemini Bioproducts, LLC, a prominent supplier of cell culture reagents and process liquids, in collaboration with BelHealth Investment Partners, LLC, a healthcare-focused private equity firm, has announced the acquisition of specific Fetal Bovine Serum (FBS) product rights and inventory from Bio-Techne Corporation (TECH).
The financial details of this transaction have not been made public.
The companies anticipate completing these transactions by December 3.
According to the agreement, GeminiBio will acquire the manufacturing and global sales rights for Bio-Techne's Fetal Bovine Serum (FBS) products, including their Optima, Premium Select, and Premium lines.
Brian Parker, Chief Executive Officer, stated, "By incorporating the Optima, Premium Select, and Premium product brands, GeminiBio fortifies its market position, offering customers an expanded range of options and improved supply chain security."
Currently, TECH is experiencing a 3.20% increase in its stock price, trading at $73.56 on the Nasdaq.
