Dundee, Scotland, 20 May, 2009: Axis-Shield plc (LSE:ASD, OSE:ASD), the international in vitro diagnostics (IVD) company, today announces that it has divested its Dorset-based subsidiary, Plasmatec Laboratory Products Ltd, to Cambridge-based Lab21 Ltd. for an undisclosed consideration.
Plasmatec was acquired by Shield Diagnostics in 1996 and has been sold to enable Axis-Shield to increase focus on the innovative products in its Point-of-Care and Laboratory Divisions.
Ian Gilham, Axis-Shield CEO, commented: “Although we have been very pleased with the Plasmatec contribution since it was acquired, we feel Lab21 is better placed to further develop the Plasmatec business model. This divestment reflects our increasing focus on high margin diagnostic technologies and markets and our investment in state-of-the-art testing at the point of care.”
About Axis-Shield
Axis-Shield is an international in vitro diagnostics company, headquartered in Dundee with R&D and manufacturing bases in Dundee and Oslo. The Group specialises in the supply of instruments and tests for the rapidly growing physician’s office testing market and the development, manufacture and marketing of innovative proprietary diagnostics kits in areas of clinical need, including cardiovascular and neurological diseases, rheumatoid arthritis, and diabetes
For more information on Axis-Shield, please refer to www.axis-shield.com
