Veterinary products company buys diagnostic testing provider

LOVELAND — Heska Corp. (Nasdaq: HSKA) bought Biotech Laboratories U.S.A. LLC on Sept. 1.

Heska sells veterinary diagnostic and specialty products including testing instruments, digital imaging products, software and data services, and tests and treatments for animal allergies, immunotherapy and heartworm prevention.

Rockville, Maryland-based Biotech Labs develops rapid assay diagnostic tests to detect infectious and parasitic diseases in animals. The seller of the unit was Biotech Holdings U.S.A. LLC.

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Heska CEO and president Kevin Wilson said in a press release that the acquisition adds to the company’s product line and intellectual property. He said the single-use rapid assay diagnostics market globally totals about $500 million and is growing.

Heska’s TTM revenue was about $246 million. Its market cap is $2.8 billion.

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