Westbrook-based IDEXX Laboratories Inc. on Monday announced that it has bought the research and diagnostic laboratory business of the College of Veterinary Medicine from the University of Missouri for $43 million in cash.
That business, referred to as “RADIL,” is based in Columbia, Mo., and provides health monitoring and diagnostic testing services to bioresearch customers.
“The bioresearch market is an excellent strategic fit for IDEXX, allowing us to leverage our expertise in veterinary diagnostics, as well as our integrated offering of reference laboratory and in-clinic testing solutions,” said Jonathan Ayers, IDEXX chairman and CEO, in a release. “The acquisition of RADIL, with its international reputation, track record of innovation, and solid relationships with key bioresearch customers, will create a strong foundation for our further participation in this market.”
RADIL serves the biomedical research community with veterinary laboratory diagnostics including serology, pathology, molecular diagnostics, microbiology and parasitology. All RADIL employees will join IDEXX and continue operations in Columbia, the Westbrook company said. It was unclear exactly how many employees RADIL has, but the company website lists eight faculty members on its staff.
IDEXX employs more than 4,900 people, including about 1,500 in Westbrook, and offers products to customers in more than 100 countries.