MINNEAPOLIS, Feb. 9, 2017 /PRNewswire/ -- Bio-Techne has been named the 2016 Company of the Year by Instrument Business Outlook (IBO). IBO is the most authoritative newsletter for tracking developments in the analytical and life science instrumentation and consumables market. Biological research is among the most important areas in science for technical innovation and with this award IBO has concluded that because of Bio-Techne's performance in product line expansion for both instruments and reagents, its increased global market penetration, and its strong revenue performance has earned this prestigious honor. "Bio-Techne consistently achieved outstanding technical, operational, and financial results throughout the year," said Tanya Samazan, Managing Editor of IBO. "In 2016, Bio-Techne capitalized on opportunities in life science research and biopharma drug development to drive top line growth, expand geographically, and solidify both its core consumables product line and its newer instrument and diagnostic pathology businesses."
"Beginning in early January, we compared and contrasted the overall performance of the market's leaders and it was soon clear that Bio-Techne was outpacing its peers with sales growing more than 60% over the last three years," explained Samazan. "The company has executed a smart acquisition strategy, introduced successful new products, and expanded globally."
Chuck Kummeth, President and Chief Executive Officer at Bio-Techne commented, "We are elated at the recognition we have received for the hard work our company has done in service to Life Science researchers worldwide. The team is committed to innovation and service to our customers."
In addition to the IBO award, Protein Simple's Milo™ Single-Cell Western Platform was named the #1 innovation on The Scientist's Top 10 Innovations of 2016 (https://www.bio-techne.com/press-releases/press/20161201). "We are very pleased that IBO has recognized Bio-Techne with this award," said Bob Gavin, Senior Vice President of Bio-Techne's Protein Platforms Division, "This award, along with our 2016 results, validates that our commitment to innovative high-quality life science tools in all of our businesses will grow our business and enable our customers to do great science." A formal presentation of the award will take place in April in conjunction with the American Association of Cancer Research meeting in Washington, DC.
ABOUT BIO-TECHNE CORPORATION:
Bio-Techne Corporation (NASDAQ: TECH) is a global life sciences company providing innovative tools and bioactive reagents for the research and clinical diagnostic communities. Bio-Techne products assist scientific investigations into biological processes and the nature and progress of specific diseases. They aid in drug discovery efforts and provide the means for accurate clinical tests and diagnoses. With thousands of products in its portfolio, Bio-Techne generated approximately $499 million in net sales in fiscal 2016 and has approximately 1,650 employees worldwide. For more information on Bio-Techne and its brands, please visit www.bio-techne.com.
Our press releases may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act. Such statements involve risks and uncertainties that may affect the actual results of operations. Forward-looking statements in this press release include statements regarding our belief about the market applications for instruments and reagents. The following important factors, among others, have affected and, in the future could affect, the actual results: our management of investments in and acquisitions of new businesses into Bio-Techne, the effect of new branding and marketing initiatives, the introduction and acceptance of new products, the levels and particular directions of research and product development by our customers, general economic conditions, the impact of currency exchange rate fluctuations, and the costs and results of our research and product development efforts and those of companies in which we have invested or with which we have formed strategic relationships. For additional information concerning such factors, see the section titled "Risk Factors" in the Company's annual report on Form 10-K and quarterly reports on Form 10-Q as filed with the Securities and Exchange Commission. We undertake no obligation to update or revise any forward-looking statements we make in our press releases due to new information or future events. Investors are cautioned not to place undue emphasis on these statements.
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SOURCE Bio-Techne Corporation