Newcastle, UK, March 4, 2013: QuantuMDx Group Limited, a leading UK medical devices company, today announced it hasacquired the entire share capital of commercial identity testing specialistNorthGene Limited in a transaction involving a share swap plus cash investment. Founded in 1995, NorthGene has established a worldwide reputation as a provider of identity testing services to not only the NHS, but also the legal profession and general public. The funds will be utilised to further develop NorthGene’s laboratory and staffing infrastructure, secure various laboratory accreditations and to expand the Company’s existing test portfolio and DNA analysis services to embrace medical, veterinary and scientific research applications.
NorthGene has historically been run as a not for profit organisation under the leadership of Sir John Burn, Professor ofClinical Genetics at Newcastle University, with all revenues invested back into medical research. Elaine Warburton, QuantuMDx’s CEO says “We have two main aims. Firstly to continue this philanthropic philosophy of using NorthGene surpluses to invest in advancing medical research for the benefit of globalhealth. Secondly for NorthGene to play a key role in the testing and the commercial roll-out of our ground-breaking diagnostic and sequencing devices which are now close to market.”
NorthGene’s Managing Director MarieWhitehouse comments “ With over 50% of our business overseas already and demand continuing to grow, this is a wonderful opportunity for NorthGene to further expand our test portfolio. QuantuMDx’s scientific, quality and commercial teams have access to, and extensive knowledge of, the very latest proven DNA based tests across medical and non-medical applications.”
Marie Whitehouse, Managing Director
Tel: +44 (0) 870 803 1234
Mob: + 44 (0) 78675 531 432