LAB21 Limited Acquires Microgen Bioproducts Ltd.
Microgen Bioproducts’ expertise in microbiological assay development and commercialisation complements Lab21’s extensive diagnostics portfolio particularly in the infectious disease market. This transaction provides further expansion of Lab21’s distribution channel in key territories including the US, UK, Europe and Asia.
Graham Mullis, CEO of Lab21 said: “Microgen Bioproducts is a well established and profitable business which will significantly contribute to our growth plans in our core products division. This acquisition highlights Lab21’s commitment to continuing its exciting roll-up strategy and we expect to bring other high quality acquisitions into the Group during 2011.”
Dan Deery, Managing Director of Microgen Bioproducts added: “Lab21 has built a strong reputation, with a global reach and innovative products. We are delighted to join forces with them.”
The acquisition follows a strong year for the products division which saw the company’s first product registration in China; its first US product approval and in addition to the launch of a number of new products, further expansion of its distribution network.
For further information:
Lab21 Graham Mullis, CEO Susan Lowther, CFO t: +44 (0)1223 395450 e: graham.mullis@lab-21.com susan.lowther@lab-21.com
For media and investor enquiries: College Hill Nicole Yost/Gemma Howe t: +44 (0)20 7866 7864 m: +44 (0)7989 855113 e: lab21@collegehill.com
About Lab21
Lab21 is a global provider of state-of-the-art diagnostic products and services, it supports blood bank screening, medical diagnostics and drug discovery. Lab21 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 sites in Newmarket and Bridport. It also has operations in South Carolina, USA. The Company's investors include Merlin Biosciences, Nexus Medical Partners, Medicis Capital, Rowan Dartington and Kreos Capital. Website: www.lab21.com
About Microgen Bioproducts
Camberley, UK-based Microgen Bioproducts is a leading developer and manufacturer of diagnostic products for clinical, food, industrial veterinary and environmental testing. The company has historically been engaged in the development, manufacture and sale of products which are used by laboratory professionals to aid the detection and diagnosis of diseases and organisms which pose a threat to human and animal health. For more information visit: www.microgenbioproducts.com