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Idexx Buys Veterinary Lab for $43M

NEW YORK (GenomeWeb News) – Idexx has acquired the research and diagnostic laboratory (RADIL) business of the College of Veterinary Medicine from the University of Missouri for $43 million in cash, the Westbrook, Maine-based firm announced on Monday.

RADIL is based in Columbia, Mo., and provides health monitoring and diagnostic testing services, including services using molecular diagnostics, serology, pathology, microbiology, and parasitology.

All RADIL employees will be transitioned to Idexx and continue at the Columbia site.

The deal is expected to be immaterial to Idexx's financial results for 2011. In 2012, the acquisition is anticipated to add $12 million in revenues and to be neutral to fully diluted earnings per share, Idexx said.

Jonathan Ayers, chairman and CEO of Idexx, said in a statement that the purchase is an "excellent strategic fit" for the firm, allowing it "to leverage our expertise in veterinary diagnostics, as well as our integrated offering of reference laboratory and in-clinic testing solutions."

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