IDEXX Laboratories Inc has bought a research and diagnostic laboratory business of the College of Veterinary Medicine from the University of Missouri, called RADIL. IDEXX has stated in a release that it paid 43 million dollars in cash for the RADIL portion of the lab. Vet college Dean Neal Olson says it’s only a certain part of the lab that IDEXX owns now.

He says the part of the laboratory they have sold does the “fee for service” operations. The lab takes in samples from other research labs from across the country and does several tests on the samples, and then sends them back. He says very few students work at that laboratory.

He says it hasn’t been decided yet exactly where the money will go, but it will probably stay within the college of Veterinary Medicine.

See the release from IDEXX here.