The laboratory, located at 4011 Discovery Drive, trains residents and graduate students in the MU Comparative Medicine Training Program.
Eight MU faculty members lead the lab, where students train for careers in laboratory animal medicine and research, according to the lab's website.
The purchase of the lab was a "natural extension" of IDEXX's business strategy, according to a news release from the Maine-based company.
RADIL is a profit-generating business for the College of Veterinary Medicine. News releases from IDEXX and MU didn't say how the $43 million will be split between the university and its College of Veterinary Medicine.