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Deal will allow introduction of sex-sorted sperm into swine industry.
July 8, 2015
Sexing Technologies, a global livestock reproductive services innovator, will acquire swine genetics company Fast Genetics from HyLife with an anticipated closing date of July 21. The deal will allow the introduction of sex-sorted sperm to the swine industry.
The acquisition will bring accelerated genetic improvement at Fast Genetics by skewing the gender ratio in its nucleus farms and through leveraging high-index males to service more females via deep uterine and low-dose semen technology, the announcement said. The sex-sorted sperm technology will also allow for significant output advantages throughout Fast Genetics' multiplication.
In the future, Fast Genetics' customers will be able to purchase semen selected for male or female offspring, thereby having the ability to predetermine gender and tailor their product based on individual production economics and packer relationships, the announcement explained.
The acquisition of Fast Genetics diversifies Sexing Technologies' business and expands the scope of its operations into the pig genetics business.
Fast Genetics will continue its strategic partnership with HyLife, Canada’s leading pork producer, supplying maternal and terminal genetics for HyLife’s sow herds. HyLife will continue its multiplication commitment by providing Fast Genetics’ high-health gilts to the U.S. and Canada.
Customers will notice little change in Fast Genetics’ commitment and service. Shannon Meyers will continue his executive leadership as the company’s chief operating officer. Throughout the last decade, Meyers lead Fast Genetics through its largest and most successful growth era, expanding its operations throughout Canada, the U.S., and into Asia.
Gregg BeVier, first hired by Sexing Technologies to introduce its sex-sorted sperm technology to the swine industry, will become Fast Genetics chief executive officer based in the U.S. BeVier brings more than 30 years of senior management experience, adding significant scientific and managerial knowledge to Fast Genetics’ business.
“Fast Genetics offers excellent health and genetics and we are excited about integrating sexed sperm combined with advanced genomic testing to further improve our products at a more rapid rate,” BeVier said. “The best genetics and health combined with the best reproductive and genomic technologies available will better position Fast Genetics’ customers for the globally competitive environment.”
“The sale of Fast Genetics will allow HyLife and Sexing Technologies to continue offering world class products to the global marketplace,” HyLife CEO Grant Lazaruk explained. “We are looking forward to continuing our efforts in providing the best pork food products in an environmentally sustainable manner, with access to even stronger genetic products.”
Headquartered in Saskatoon, Sask., Fast Genetics provides highly prolific maternal genetic lines and terminal genetic lines that have unrivaled carcass value, meat quality and growth characteristics. Fast Genetics supplies the global market with high-health and world-class performing swine breeding stock.
Navasota, Texas-based Sexing Technologies is best known for its cutting-edge, proprietary process for commercially separating X-bearing (female) chromosomes from Y-bearing (male) chromosomes in cattle, horse and deer semen for use in artificial insemination and in vitro fertilization, allowing producers the freedom to determine offspring gender.
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