Bio-Techne completed its acquisition of Advanced Cell Diagnostics. This represents the ninth acquisition for Bio-Techne in the last three years.

With these acquisitions, Minneapolis-based Bio-Techne has grown from approximately 650 employees in 2013 to nearly 1,700 staff worldwide and has expanded its global reach with subsidiaries in every major geographic market.

Charles R. Kummeth, president and CEO of Bio-Techne, said, “We are very pleased to have ACD as part of Bio-Techne. First of all, ACD marks Bio-Techne’s entry into the genomics field and market. Second, and more importantly, its innovative and versatile technology has the potential to change pathology practices.”

On July 28, 2016, Bio-Techne entered into a $400 million credit agreement with a syndicate of lenders. BMO Harris served as administrative agent, swing line lender and lender. BMO Capital Markets and J.P. Morgan Securities served as joint leader arrangers and joint bookrunners. JPMorgan served as syndication agent, and PNC served as documentation agent.

The credit agreement provides for a revolving credit facility of $400 million, which can be increased by an additional $200 million subject to certain conditions. Borrowings under the credit agreement may be used for working capital and expenditures of the company and its subsidiaries, including financing permitted acquisitions.

At the closing on July 28, 2016, the company drew $343.5 million on the credit agreement in relation to the closing of the merger.