Neogen to Acquire Gene-Trak Systems.
Lansing, MI and Downers Grove, IL 6/28/01--Neogen has signed a
letter of intent to acquire Gene-Trak Systems from Vysis. Gene-Trak
Systems supplies detection products based on DNA probe technology for
food-borne pathogens. The company had revenues of around $3 million last
year and, according to Neogen, is widely used in the egg product
industry. Neogen stated that it is especially interested in
Gene-Trak's new automated testing system. Vysis stated that the
sale would allow it to concentrate on its genomic disease management
* This is Neogen's second acquisition announcement this month
(see IBO 6/15/01) as it motes to grow its share of the food testing
market. Gene-Trak Systems' sales fell 4% in 2000 but that may have
been the result of neglect rather than poor performance. The deal
increases Neogen's utilization of DNA probe technology.