Neogen Corp (NEOG - Snapshot Report) recently took over Heywood, England-based Lab M Holdings – a provider of microbiological culture media and diagnostic systems. The company’s products are used in global food, water, industrial and clinical testing markets.
Per Neogen, the integration of Lab M’s products into its Acumedia product suite will position the company as the leading global provider of traditional microbiology tools. Acumedia offers dehydrated culture media for varied purposes, including traditional bacterial testing and growing beneficial bacteria.
The buyout will also help Neogen to offer advanced food safety diagnostics tools to its customers. Moreover, it will expand the company’s footprint in the international markets, as Lab M has a strong clientele in European Union, Middle East and India. Further, the Lab M acquisition is expected to boost Neogen’s Food Safety revenues in fiscal 2016 and beyond.
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Source: zacks.com
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