26.11.09
Lab21 acquires personalised medicine diagnostic services business

Cambridge, UK – 26th November 2009 - Lab21, the healthcare diagnostics company, is pleased to announce that it has acquired the business and assets of Delphic Diagnostics (in administration), a specialist laboratory services business with particular expertise in HIV and hepatitis, from its administrators BDO LLP. This acquisition is the third made by Lab21 in the past 12 months and marks the latest step in the company’s buy-and-build strategy.
Delphic’s business is focused on personalised medicine and companion diagnostics and it has developed a world leading expertise in pharmacology, virology, therapeutic drug monitoring and specialist clinical trial services to the pharmaceutical industry. It has its own laboratories in Liverpool and in Kent and partner laboratories across Europe. It has strong quality accreditations, including CAP, GCLP, ISO9001:2008 and CLIA, and more than 200 NHS customers in the UK and partnerships with various global pharmaceutical manufacturers.
The financial details of the acquisition are not being disclosed.
Maddy Kennedy, CFO of Lab21, commented: “This purchase of the Delphic business and assets is expected to contribute substantial sales in 2010 and to be accretive to Lab21’s earnings from early next year. It also adds significant management and clinical expertise to Lab21 to support the expansion of our personalised medicine strategy.”
Graham Mullis, CEO of Lab21, commented: “This acquisition is highly complementary to Lab21’s existing business in companion diagnostics and significantly extends our laboratory capacity and service offering in virology. I am delighted to welcome Delphic’s management team, customers and patients to Lab21 and look forward to integrating the Delphic services within Lab21’s expanding service operations.
“This acquisition is the latest step in our buy-and-build strategy and reinforces our market leadership position in molecular diagnostic services in the UK, specifically in the rapidly growing market for companion diagnostics.”

 

 

For further information:
Lab21
Graham Mullis, CEO
Maddy Kennedy, CFO
Dr Berwyn Clarke, CSDO
t: +44 (0)1223 395461
e: graham.mullis@lab-21.com
maddy.kennedy@lab21.com
berwyn.clarke@lab21.com

For media and investor enquiries:
Buchanan Communications
Mark Court / Katharine Sutton
t: +44 (0) 20 7466 5000
e: markc@buchanan.uk.com

About Lab21
Lab21 is a global provider of state-of-the-art diagnostic products and services, supporting blood bank screening, medical diagnostics and drug discovery. Its 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 manufacturing sites in Newmarket, Bridport and Ipswich. It also has R&D operations in Cape Town, South Africa. The Company's investors include Merlin Biosciences, Nexus Medical Partners, Medicis Capital, Rowan Dartington and Kreos Capital.
Website:  www.lab21.com