Bio-Techne (TECH) Jefferies 2024 Global Healthcare Conference summary

ESG and corporate responsibility

• Published third corporate sustainability report, now monitoring all sites for greenhouse gas emissions.

• Emphasizes diversity and inclusion as a long-term competitive advantage.

• Employees actively participate in community and charitable activities.

• Strong governance with a board comprising scientific and business expertise.

Business overview and revenue breakdown

• Headquartered in Minneapolis with 3,100 employees and $1.1 billion in annual revenue.

• 81% of revenue from consumables, 10% from instruments, 9% from services and royalties.

• Operates in two segments: Protein Sciences (PSS) and Diagnostics & Genomics (DGS).

• PSS accounts for 74% of revenue, DGS for 26%.

• Growth verticals (cell and gene therapy, proteomic instrumentation, spatial biology, liquid biopsy) are outpacing core business.

Market positioning and strategy

• Holds 10% market share in a $6 billion core market, growing at 7.7% historically.

• Growth verticals are in double-digit growth markets with significant headroom.

• Focuses on automation, multiomics, AI, and precision medicine as key industry megatrends.

• Aligns product development with regulatory pathways, supporting customers from research to clinical applications.