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Aqua Research Firm Buys Competitor
US - Apopka-based Aquatic Eco-Systems has bought its Massachusetts competitor Marine Biotech for an undisclosed sum. The deal gives the company a larger presence in bio-medical research, primarily in field of aquatic animal researc
The aquatic sector currently makes up just 20 percent of the Apopka firm's revenue, says Todd Childress, its aquatic division President.
According to Orlando's Business Journal, the use of aquatic animals as research subjects is still in its early stages,. However Childress says that the business has quadrupled in the past five years and has the potential to experience double-digit growth for the future. The combination of these two firms now creates one of the world's largest providers of zebrafish and other aquatic species used in biomedical, pharmaceutical and genetic research, says its Steve Aldrich, president of Marine Biotech.
Aquatic Eco-Systems employs 160 people and has more than $30 million in annual revenue, while Marine Biotech has 20 employees and generated $7 million in revenue last year.
TheFishSite News Desk
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