Corporate Banner
Satellite Banner
Molecular & Clinical Diagnostics
Scientific Community
 
Become a Member | Sign in
Home>News>This Article
  News
Return

Source BioScience Announces Acquisition of Inverclyde Biologicals Limited

Published: Tuesday, April 30, 2013
Last Updated: Tuesday, April 30, 2013
Bookmark and Share
Acquisition of the entire issued share capital of Inverclyde for total consideration of £1.6 million.

Source BioScience plc has announced the acquisition of the entire issued share capital of Inverclyde Biologicals Limited (‘Inverclyde Biologicals’), Motherwell, Scotland for a total consideration of £1.6 million payable in cash.

Highlights
• Inverclyde is a market leading manufacturer of high quality diagnostic kits and blood group serology reagents
• Consideration of £1.6 million; cash acquired with the business of £0.3 million
• Revenue of £0.7 million; £0.2 million profit before tax and cash generated from operations
• Complementary with existing Source BioScience healthcare products business with the same high standards for quality and service and a strong reputation within the NHS
• Creation of new cross-selling opportunities, an extended customer base and better utilization of existing infrastructure
• Inverclyde Biologicals’ expertise in designing and manufacturing clinical grade reagents complement the Group’s expansion plans for the reSource™ range of life science products
• Geographic expansion into Scotland, providing the opportunity to establish an Overnight Service for DNA sequencing accessible by the Scottish research community
• The current Inverclyde Biologicals directors are both remaining with the Group and bring a well regarded and qualified talent, together with a dedicated, highly skilled and knowledgeable workforce.

Dr Nick Ash, CEO of Source BioScience, said: “The acquisition of Inverclyde Biologicals fits squarely with our stated objective of continued expansion through both targeted acquisitions and development of our existing business. This acquisition provides a platform for increased penetration of the UK healthcare market, acting as a catalyst for our accelerated growth. The Inverclyde Biologicals team will bring significant experience and knowledge to the Group and we will be able to leverage the enlarged Group’s existing links with healthcare providers across the UK and distributor network overseas.”


Further Information

Join For Free

Access to this exclusive content is for Technology Networks Premium members only.

Join Technology Networks Premium for free access to:

  • Exclusive articles
  • Presentations from international conferences
  • Over 3,200+ scientific posters on ePosters
  • More than 4,600+ scientific videos on LabTube
  • 35 community eNewsletters


Sign In



Forgotten your details? Click Here
If you are not a member you can join here

*Please note: By logging into TechnologyNetworks.com you agree to accept the use of cookies. To find out more about the cookies we use and how to delete them, see our privacy policy.


Scientific News
Proteins in Blood of Heart Disease Patients May Predict Adverse Events
Nine-protein test shown superior to conventional assessments of risk.
£14m EU Project To Aid Meningitis Diagnosis and Cut Antibiotic Use
An international team of doctors are aiming to develop a rapid test to allow medics to quickly identify bacterial infection in children.
Bringing AFM to Medical Diagnostics
Company has announced that its NanoWizard® AFM and ForceRobot® systems are being used in the field of medical diagnostics in the Supersensitive Molecular Layer Laboratory of POSTECH in Korea.
Scientific Gains May Make Electronic Nose the Next Everyday Device
UT Dallas team breathes new life into possibilities by using CMOS integrated circuits technology.
Electronic Sensor Tells Dead Bacteria From Live
The sensor, which measures 'osmoregulation', is a potential future tool for medicine and food safety.
Diagnosing Systemic Infections Quickly, Reliably
Team develop rapid and specific diagnostic assay that could help physicians decide within an hour whether a patient has a systemic infection and should be hospitalized for aggressive intervention therapy.
A Future Tool for Medicine, Food Safety
A new type of electronic sensor that might be used to quickly detect and classify bacteria for medical diagnostics and food safety has passed a key hurdle by distinguishing between dead and living bacteria cells.
Genome Sequencing Helps Determine End of TB Outbreak
Using genome sequencing, researchers from the University of British Columbia, along with colleagues at the Imperial College in London, now have the ability to determine when a tuberculosis (TB) outbreak is over.
What Makes a Good Scientist?
It’s the journey, not just the destination that counts as a scientist when conducting research.
Shimmer Partners with Harvard's Wyss Institute
Partnership to support ongoing research focused on remote patient monitoring using wearable sensing technology.
SELECTBIO

SELECTBIO Market Reports
Go to LabTube
Go to eposters
 
Access to the latest scientific news
Exclusive articles
Upload and share your posters on ePosters
Latest presentations and webinars
View a library of 1,800+ scientific and medical posters
3,200+ scientific and medical posters
A library of 2,500+ scientific videos on LabTube
4,600+ scientific videos
Close
Premium CrownJOIN TECHNOLOGY NETWORKS PREMIUM FOR FREE!