Sign in

    Bio-Techne Corp (TECH)

    You might also like

    Business Description

    Bio-Techne Corporation develops, manufactures, and sells biotechnology reagents, instruments, and services for research and clinical diagnostic markets worldwide. The company operates through two main segments: Protein Sciences and Diagnostics and Genomics . Bio-Techne's offerings include high-quality biological reagents, diagnostic products, and advanced tissue-based assays, catering to both research and clinical needs .

    1. Protein Sciences - Develops and manufactures high-quality biological reagents, including cytokines, growth factors, antibodies, immunoassays, and small molecule compounds. Offers proteomic analytical tools for protein analysis, automated western blot, and multiplexed ELISA workflows.

    2. Diagnostics and Genomics - Develops and manufactures diagnostic products such as controls, calibrators, diagnostic assays, and exosome-based molecular diagnostic assays. Provides advanced tissue-based in-situ hybridization assays for spatial genomic and tissue biopsy analysis.

    Key Metrics

    View all financials →

    Executive Team

    NamePositionStart DateShort Bio
    Kim KeldermanPresident, Chief Executive Officer, and DirectorFebruary 1, 2024Kim Kelderman was appointed as the President and Chief Executive Officer of Bio-Techne, effective February 1, 2024. He has been with the company since 2018, initially serving as the President of the Diagnostics and Genomics Segment. Before joining Bio-Techne, Mr. Kelderman held various executive roles at Thermo Fisher Scientific and was a Senior Segment Leader at Becton Dickinson .
    James HippelExecutive Vice President and Chief Financial OfficerApril 1, 2014James Hippel has been the Executive Vice President and Chief Financial Officer of Bio-Techne Corporation since April 1, 2014. Before joining Bio-Techne, he served as Senior Vice President and Chief Financial Officer for Mirion Technologies, Inc., and as Vice President, Finance at Thermo Fisher Scientific. He also held financial roles at Honeywell International and began his career with KPMG LLP .
    William GeistPresident, Protein SciencesJanuary 3, 2022William Geist has been serving as the President of the Protein Sciences segment at Bio-Techne since January 3, 2022. Before joining Bio-Techne, he was the Chief Operating Officer at Quanterix and held senior management roles at Thermo Fisher Scientific and QuantaBiosciences, a QIAGEN company .
    Matthew McManusPresident, Diagnostics and GenomicsJanuary 8, 2024Matthew McManus joined Bio-Techne as President, Diagnostics and Genomics on January 8, 2024. Prior to joining Bio-Techne, he served as Chief Operating Officer for Azenta Life Sciences and was the Chief Executive Officer of Asuragen before its acquisition by Bio-Techne .
    Shane BohnenSenior Vice President, General Counsel & Corp. SecretaryMarch 3, 2023Shane Bohnen serves as the Senior Vice President, General Counsel & Corporate Secretary at Bio-Techne Corporation. He was promoted to this position on March 3, 2023. Before his promotion, Mr. Bohnen had been an attorney on the company’s legal team since July 2019. Prior to joining Bio-Techne, he spent 10 years in private practice as a life sciences litigator and seven years as in-house corporate counsel with a broad range of responsibilities and a global scope .

    Questions to Ask Management

    1. Given the 100 basis point headwind from incentive compensation accrual restatements impacting operating margins, what concrete steps are you taking to improve margins back to historical levels, and what is your timeline to achieve your long-term target of up to 40% operating margins?

    2. Demand for your COMET platform continues to outpace your manufacturing capacity; what specific measures are you implementing to scale production, and how will you address potential supply constraints that could limit growth in this high-demand area?

    3. The strong growth in your Molecular Diagnostics segment was partly driven by one-time factors like inventory normalization; how sustainable is this growth moving forward, and what factors give you confidence that momentum can continue into fiscal 2025?

    4. With instrumentation sales under pressure and peers experiencing weakness in this area, how do you plan to drive growth in your instrumentation business, and can the double-digit growth in instrument-related consumables be sustained without corresponding instrument sales?

    5. The Protein Sciences segment has been heavily impacted by macroeconomic pressures, especially in China and biotech funding constraints; what strategies are you implementing to accelerate growth in this segment, and how confident are you in a second-half recovery given the uncertainties in these markets?

    Share Repurchase Program

    Program DetailsProgram 1
    Approval DateFebruary 2, 2022
    End Date/DurationN/A
    Total additional amount$400 million
    Remaining authorization amount$180.7 million
    DetailsMitigate the dilutive effect of stock option exercises

    Debt Maturity Schedule

    YearAmount Due (Millions)Debt TypeInterest Rate (%)% of Total Debt
    2025100Forward Starting SwapN/A25% = (100 / 400) * 100
    2025200Forward Starting SwapN/A50% = (200 / 400) * 100
    2026100Forward Starting SwapN/A25% = (100 / 400) * 100
    2027300Revolving Credit FacilityVariable75% = (300 / 400) * 100

    Auditor

    NameStart DateEnd DateReason for Change
    KPMG LLP2002 PresentCurrent auditor