BIO-TECHNE ANNOUNCES NEW DISTRIBUTION AGREEMENT WITH MEDSANTEK TO EXPAND ACCESS TO PORTFOLIO ACROSS TURKEY

Rhea-AI Summary

Bio-Techne (NASDAQ: TECH) has announced a new distribution partnership with MedSanTek to expand its product reach across Turkey and Azerbaijan. The agreement enables MedSanTek to distribute Bio-Techne's portfolio of brands including R&D Systems, Novus, Tocris, Protein Simple, Advanced Cell Diagnostics, and Asuragen.

MedSanTek, founded in the late 2000s, is a leading in vitro diagnostics and research products distributor in the region, specializing in molecular biology, immunology, cancer research, and cell therapy. The partnership aims to leverage MedSanTek's local market expertise and distribution network to enhance Bio-Techne's presence in Turkey and Azerbaijan's biotechnology, laboratory, and hospital sectors.

Positive

• Strategic expansion into Turkey and Azerbaijan markets through established local distributor
• Access to new customer base including biotechs, labs, and hospitals in the region
• Distribution agreement covers multiple Bio-Techne brands, maximizing market penetration

Negative

• None.

Insights

Market Research Analyst

This distribution agreement marks a strategic expansion into Turkey and Azerbaijan's growing life sciences markets. The partnership with MedSanTek, an established regional distributor, provides Bio-Techne with immediate access to a network of biotechs, laboratories and hospitals across major cities. Turkey's healthcare and biotech sectors have shown significant growth potential, with increasing R&D investments and a developing biotechnology infrastructure.

The deal encompasses Bio-Techne's complete portfolio including R&D Systems, Novus, Tocris, Protein Simple, Advanced Cell Diagnostics and Asuragen brands. This comprehensive offering positions Bio-Techne to capture market share in molecular biology, immunology and cancer research segments. While the financial terms aren't disclosed, the partnership should contribute to revenue growth through increased market penetration in these emerging markets.

MINNEAPOLIS, Dec. 12, 2024 /PRNewswire/ -- Bio-Techne Corporation (NASDAQ: TECH), a global life sciences company providing innovative tools and bioactive reagents for the research and clinical diagnostic communities today announced a partnership with MedSanTek. Under the agreement, MedSanTek becomes the distributor of Bio-Techne's R&D Systems, Novus, Tocris, Protein Simple, Advanced Cell Diagnostics (ACD), and Asuragen brands across Turkey.

Founded in the late 2000s, MedSanTek is a leading in vitro diagnostics and research products distributor, serving Turkey and Azerbaijan. Partnering with global brands, the company provides high-quality solutions in molecular biology, immunology, cancer research, cell therapy, and more, earning a reputation for innovation and customer satisfaction in advancing science and healthcare. 

"As MedSanTek's founder, I'm thrilled to partner with Bio-Techne to bring their world-class products—antibodies, proteins, assays, and diagnostic kits—to Turkey and Azerbaijan's biotechs, labs, and hospitals," said Mr İbrahim Selçuk, Founder & General Manager of MedSanTek Co. "Since our founding, we've earned a reputation for quality, timely delivery, and strong customer support. With a specialized team and a network across major cities, we remain committed to mutual success and advancing scientific research."

"We are excited to partner with MedSanTek to expand the reach of our products and services in the important Turkey and Azeri markets," said Dr. Peter Schüßler, Vice President and General Manager EMEA. "MedSanTek's industry expertise and knowledge of the local diagnostics and life science research markets, paired with Bio-Techne's innovative portfolio is the ideal combination to enable advances in science and medicine in Turkey and beyond."

For more information about Bio-Techne and its range of products and services, visit our Website.

About Bio-Techne

Bio-Techne Corporation (NASDAQ: TECH) is a global life sciences company providing innovative tools and bioactive reagents for the research and clinical diagnostic communities. Bio-Techne products assist scientific investigations into biological processes and the nature and progress of specific diseases. They aid in drug discovery efforts and provide the means for accurate clinical tests and diagnoses. With hundreds of thousands of products in its portfolio, Bio-Techne generated approximately $1.2 billion in net sales in fiscal 2024 and has approximately 3,100 employees worldwide. For more information on Bio-Techne and its brands, please visit http://www.bio-techne.com or follow the Company on social media at Facebook, LinkedIn, Twitter or YouTube.

About Bio-Techne Corporation (NASDAQ: TECH)
Contact: David Clair, Vice President, Investor Relations & Corporate Development
david.clair@bio-techne.com
612-656-4416

Medsantek Life Sciences Contact

medsantek@medsantek.com.tr

ergun@medsantek.com.tr

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SOURCE Bio-Techne Corporation

FAQ

What brands will MedSanTek distribute for Bio-Techne (TECH) in Turkey?

MedSanTek will distribute Bio-Techne's R&D Systems, Novus, Tocris, Protein Simple, Advanced Cell Diagnostics (ACD), and Asuragen brands across Turkey.

Which markets will Bio-Techne (TECH) expand into through the MedSanTek partnership?

Through the MedSanTek partnership, Bio-Techne will expand into Turkey and Azerbaijan markets.

What types of products will Bio-Techne (TECH) distribute through MedSanTek?

Bio-Techne will distribute antibodies, proteins, assays, and diagnostic kits through MedSanTek to biotechs, labs, and hospitals in the region.

When did Bio-Techne (TECH) announce its distribution agreement with MedSanTek?

Bio-Techne announced its distribution agreement with MedSanTek on December 12, 2024.