Harvard Bioscience, Inc. (NASDAQ:HBIO) Q3 2023 Earnings Call Transcript

James Green: Yes, that’s a great question. It’s certainly something that we’re very interested in. It took us a while and I was very public about, look, we’re not going to make significant structural changes or our M&A type work until we finish getting our act together. And I feel like this is the year that we finished getting our act together. So we have been starting to look at where — first of all, what kind of opportunities are out there. But even more importantly, where are the places that we would make the investment to accelerate some of our new areas. We’re going to continue to invest heavily in what I call the things that really drive the ability of the farm to meet the needs of the business, the base business, that’s things like our Panama software, telemetry, those are core businesses and we’re going to continue to build on that.

And those we expect to see growing at a nice clip at or above market, with the new areas, though. And when you look at bioproduction and you look at some of what we’re doing in advanced cell testing with organoids and new advancements there, those are 2 areas that we definitely want to accelerate. So those would be 2 areas that we would be looking to potentially either there’s maybe some licensing, some acquisition activity there for acceleration or maybe even some kind of a teaming environment that might make sense if there’s something that we feel we just can’t get to given all the opportunities we have in our portfolio to invest. But definitely, there’s opportunity there. And as with our capital structure being in much better shape at the end of the year here, we get to Q1, we’ll be looking a little harder at where and what might be available to help us accelerate at least those 2 areas.

Operator: [Operator Instructions] This does conclude the question-and-answer session of today’s program. I’d like to hand the program back to Jim Green for any further remarks.

James Green: Thank you, Jonathan. Thank you all for joining us. This ends today’s presentation. We hope you’ll join us in the new year for our year-end report and that will be some time in the February, early March time frame. Thank you very much. This ends the presentation.

Operator: Thank you, ladies and gentlemen, for your participation in today’s conference. This does conclude the program. You may now disconnect. Good day.