LANSING, Mich., April 27, 2016 /PRNewswire/ -- Neogen Corporation
(NASDAQ: NEOG) announced today that it has acquired Brazil-based Deoxi Biotecnologia Ltda (Deoxi)
— a leading animal genomics laboratory in the country with the most
cattle in the world.
The acquisition of Deoxi is intended to help accelerate the
growth of Neogen's GeneSeek animal genomics in Brazil, which is home to more than 200 million
cattle (as a comparison, the United
States is home to approximately 90 million cattle). Deoxi
was founded in 2008, and was a competitor of Neogen's in the
livestock genomics market.
"Deoxi has excellent facilities, and an excellent reputation
with its customers, which include research institutions,
universities, and animal breeding companies. Deoxi's management and
staff will remain with the company, and will continue their work to
help Neogen grow the Brazilian genomics business," said
James Herbert, Neogen's CEO and
chairman. "Adding Deoxi's complementary expertise and customer base
strengthens our animal genomic capabilities and presence. The Deoxi
laboratory in Araçatuba will provide our Brazilian customers the
same access to the best animal genomics technology as our U.S.
customers, and also offers all the benefits of dealing directly
with a Brazilian location. Until now, samples from Brazil have been shipped to our genomic
laboratory in Lincoln,
Nebraska.
"And, Brazil is a critically
important country for an animal genomics company to be in," Herbert
continued. "Brazil has the most
cattle, is only behind the United
States in the production of beef, and is a leading producer
of pork and chicken."
With both state-of-the-art animal genetic facilities and
comprehensive bioinformatics to interpret genetic test results,
Neogen offers animal owners unparalleled identity and trait
determination and analysis. For example, Neogen can provide a
cattle producer with DNA test results that can predict that
animal's performance in the herd on such traits as the ability to
gain weight, pregnancy rate, calving ease, and susceptibility to
disease. Neogen provides veterinary genomic solutions for cattle,
both beef and dairy, swine, sheep, dogs, and poultry.
The company's Neogen do Brasil subsidiary was established in
2009, and has recorded double-digit growth in both its food safety
and animal safety revenues.
Terms of the agreement were not disclosed.
Neogen Corporation develops and markets products dedicated to
food and animal safety. The company's Food Safety Division markets
dehydrated culture media, and diagnostic test kits to detect
foodborne bacteria, natural toxins, food allergens, drug residues,
plant diseases and sanitation concerns. Neogen's Animal Safety
Division is a leader in the development of animal genomics along
with the manufacturing and distribution of a variety of animal
healthcare products, including diagnostics, pharmaceuticals,
veterinary instruments, wound care and disinfectants.
CONTACT:
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Steven J. Quinlan,
Neogen Vice President & CFO
|
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517/372-9200
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SOURCE Neogen Corporation