Neogen acquires International Diagnostic Systems
Neogen Corporation has acquired International Diagnostic Systems Corp (IDS), a leading developer, manufacturer and marketer of test kits to detect drug residues in food and animal feed, and drugs in forensic and animal samples.
Based in St. Joseph, Mich., IDS has been in business for more than 20 years, and offers approximately 40 products. In addition to significant sales in the United States, IDS has distribution in France, Italy, Spain, Germany, and China.
A key recent focus of the company has been the food safety market for testing animal feed, meat products, and seafood. IDS recorded revenues of approximately $2 million in its most recently completed fiscal year. Terms of the acquisition were not disclosed.
A part of IDS's operations will be relocated to and integrated with Neogen's Lexington, Ky., facilities. The company's research and development operations, and key IDS employees, will remain in IDS's Michigan facilities.
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