Cambridge, UK – 20 May 2009: Lab21, the healthcare diagnostics company, is pleased to announce that it has expanded its diagnostic product range and increased its distribution channels through the acquisition of Plasmatec Laboratory Products Ltd, a high quality manufacturer and international distributor of in vitro diagnostic tests.
Plasmatec is based in Bridport, Dorset, and sells a comprehensive range of diagnostic tests in regions including Europe, Central and South America, Africa, the Middle East and Asia Pacific. Plasmatec was founded in 1990 and since 1996 has been a wholly owned subsidiary of Axis-Shield plc.
Lab21 has acquired Plasmatec from Axis-Shield and has been advised by Excalibur Capital throughout the acquisition process. Financial terms of the acquisition are not being disclosed.
Graham Mullis, CEO of Lab21, commented: “This is a great acquisition for Lab21. Plasmatec is a highly successful business and gives further critical mass to our diagnostic products division. Plasmatec will continue to be based in Dorset but there will be significant cross-selling opportunities within Lab21’s enlarged diagnostic products division. This acquisition follows the purchase earlier this year of Biotec Laboratories Ltd and underlines the momentum of our buy-and-build strategy.”
Plasmatec, which is certified to BS EN ISO 9001:2000, manufactures a wide range of blood banking reagents and sells them directly as well as through international distributors.
Martin Shaw, founder and Managing Director of Plasmatec, said: “We are delighted to become part of the Lab21 Group, which is focused on developing immuno-diagnostic tests for blood banking markets. Plasmatec is well placed to add to Lab21’s growing product portfolio and offers particular expertise in the Middle East and South American markets.”
Plasmatec will trade as a division of Lab21.
For further information:
Graham Mullis, CEO
Maddy Kennedy, CFO
Dr Berwyn Clarke, CSDO
t: +44 (0)1223 395450
For media and investor enquiries:
Mark Court / Rebecca Skye Dietrich / Katharine Sutton
t: +44 (0) 20 7466 5000
Lab21 is a global provider of state-of-the-art diagnostic products and services, supporting blood bank screening, medical diagnostics and drug discovery. Its customers include international healthcare providers, pharmaceutical and biotechnology companies.
The product division of the Company manufactures immunodiagnostic kits and reagents that are distributed into 110 international countries and is focused on infectious diseases for the blood-banking market.
The service division has a growing test portfolio providing companion diagnostics and high technology molecular assays for the growing integration of personalised medicine into healthcare. These services are currently in infectious diseases, oncology and pharmacogenetics areas with emerging interests in cardiovascular and metabolic disease.
Lab21's clinical reference laboratory and corporate office is based in Cambridge and has additional UK manufacturing sites in Newmarket and Ipswich. It also has R&D operations in Cape Town, South Africa. The Company's investors include Merlin Biosciences, Nexus Medical Partners, Medicis Capital, Rowan Dartington and Kreos Capital.