Heska acquires Biotech labs to dive into assays
by Katie Pfaff
Veterinary diagnostics company, Heska Corporation, has attained rapid assay test maker, Biotech Laboratories USA LLC. The company purchased majority ownership from Biotech Holdings USA LLC. The sale closed on the September 1.
"With today's acquisition of Biotech, we make a big step forward in our Heska-owned global products line and intellectual property portfolio," said Kevin Wilson, chief executive officer and president of Heska. "We have been working for years to enter the market with a full-line of top quality, single-use rapid assay diagnostics."
Heska, currently a developer, seller, and manufacturer of diagnostic and specialty veterinary tools, including point-of-care testing products, digital imaging devices, and one-time use tests. The company also provides herd animal health products such as vaccines. Biotech specializes in fast point-of-care testing that can identify parasites and diseases.
"We estimate the total addressable global market to be approximately $500 million and growing nicely in the geographies we now cover," Wilson continued. "We intend to strongly compete for this market over time by expanding our product portfolio to offer these important tests to our thousands of point-of-care diagnostics subscribers around the globe. With Biotech's highly coveted pipeline, team, technology, regulatory path, and manufacturing expertise now part of Heska, we are now prepared to take our final steps to launch into this important segment in the first half of 2022."
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