Corporate Banner
Satellite Banner
Genomics
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 4,700+ 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.

Related Content

York Teaching Hospital Signs Up BD FocalPoint™
Fifth NHS cytology centre adopts Source BioScience’s automated screening technology.
Friday, September 13, 2013
Source BioScience Launches New Overnight Service for DNA Sequencing
Overnight service offers free sample collection and rapid delivery of results in Scotland.
Monday, June 17, 2013
Scientific News
New CAR T Cell Therapy Using Double Target Aimed at Solid Tumors
Researchers at Penn University have described how antibody, carbohydrate combination could apply to range of cancer types.
Erasing Unpleasant Memories with a Genetic Switch
Researchers from KU Leuven and the Leibniz Institute for Neurobiology have managed to erase unpleasant memories in mice using a 'genetic switch'.
New Method Detects Telomere Length for Research into Cancer, Aging
UT Southwestern Medical Center cell biologists have identified a new method for determining the length of telomeres, the endcaps of chromosomes, which can influence cancer progression and aging.
Assessing the Effectiveness of Genome-Editing Technologies
Researchers have developed a cost-effective and rapid method for assessing edits generated by CRISPR-Cas9 and other genome-editing technologies.
New Cancer Drug Target Found in Dual-Function Protein
Findings from a study from TSRI have shown that targeting a protein called GlyRS might help to halt cancer growth.
Alzheimer's Genetics Point To New Research Direction
A University of Adelaide analysis of genetic mutations which cause early-onset Alzheimer’s disease suggests a new focus for research into the causes of the disease.
Contagious Cancers Are Spreading in Shellfish
Direct transmission of cancer among some marine animals may be more common than once thought, suggests a new study published in Nature by researchers at Columbia University Medical Center (CUMC).
Contagious Cancers Are Spreading in Shellfish
Direct transmission of cancer among some marine animals may be more common than once thought, suggests a new study published in Nature by researchers at Columbia University Medical Center (CUMC).
Fix for 3-Billion-Year-Old Genetic Error
Researchers at The University of Texas at Austin have developed a fix that allows RNA to accurately proofread for the first time.
Higher Frequency of Huntington's Disease Mutations Discovered
University of Aberdeen study shows that the gene change that causes Huntington's disease is much more common than previously thought.
Skyscraper Banner

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
4,700+ scientific videos
Close
Premium CrownJOIN TECHNOLOGY NETWORKS PREMIUM FOR FREE!