Bio-Rad Laboratories, Inc. (NYSE: BIO-B)

Bio-Rad Laboratories, Inc. is a multinational life science and clinical diagnostics company that develops, manufactures, and markets a broad portfolio of instruments, systems, reagents, and consumables. The company operates globally with direct operations in over 36 countries outside the United States through subsidiaries focused on sales, customer service, and product distribution, supplemented by distributors and agents in certain locations. Bio-Rad serves research, biopharmaceutical, clinical, and industrial markets with products designed for separating, purifying, characterizing, and quantifying biological materials.

Bio-Rad generates revenue through the sale of instruments, systems, reagents, and consumables across its Life Science and Clinical Diagnostics segments. In the Life Science segment, revenue comes from products used in research, biopharmaceutical manufacturing, quality control, food safety testing, and science education. In the Clinical Diagnostics segment, revenue is derived from diagnostic test systems, informatics solutions, test kits, and specialized quality controls for clinical laboratories. A significant portion of Clinical Diagnostics revenue is recurring due to standardized platforms that drive ongoing sales of test kits and consumables.

The company operates through the following segments: Life Science and Clinical Diagnostics.

• The Life Science segment develops, manufactures, and markets instruments, systems, reagents, and consumables used to separate, purify, characterize, and quantify biological materials including cells, proteins, and nucleic acids. These products are utilized in research and biopharmaceutical laboratory environments, as well as in biopharmaceutical manufacturing, quality control processes, food safety testing, and science education applications. The segment serves universities and medical schools, industrial research organizations, government agencies, pharmaceutical manufacturers, biotechnology companies, and food producers and testing laboratories worldwide.

• The Clinical Diagnostics segment designs, manufactures, markets, and supports diagnostic test systems, informatics solutions, test kits, and specialized quality controls for clinical laboratories in the global diagnostics market. Its products address targeted segments within the in vitro diagnostics market with a focus on differentiated diagnostic applications. The segment supplies several thousand products supporting more than 300 clinical diagnostic tests and consists of reagents, instruments, and software provided as integrated systems to support standardized laboratory workflows and reproducible test results. Principal customers include hospital laboratories, diagnostic reference laboratories, transfusion laboratories, and physician office laboratories.

Bio-Rad holds a strong position in the competitive life science and diagnostics industries. In the Life Science segment, major competitors include Becton Dickinson, Danaher, Merck KGaA, Qiagen N. V., and Thermo Fisher Scientific. In the Clinical Diagnostics segment, key competitors are Abbott Laboratories, Becton Dickinson, bioMérieux, Danaher, DiaSorin, Werfen, QuidelOrtho, Roche, Siemens Healthineers, Thermo Fisher Scientific, and Tosoh. The company competes based on meeting performance specifications, technical support, comprehensive solutions, quality, service, and product portfolio breadth.

Bio-Rad serves a broad and diversified global customer base that includes university and research institutions, hospital and public health laboratories, commercial laboratories, diagnostic manufacturers, and companies in the biotechnology, pharmaceutical, chemical, and food industries. Specific customer types referenced in the filing include universities, medical schools, industrial research organizations, government agencies, pharmaceutical manufacturers, biotechnology companies, food producers, testing laboratories, hospital laboratories, diagnostic reference laboratories, transfusion laboratories, and physician office laboratories.