Lab21 acquired U.K.-based in vitro diagnostics manufacturer and distributor, Plasmatec Laboratory Products, from Axis-Shield. Plasmatec sells a comprehensive range of diagnostic tests in regions including Europe, Central and South America, Africa, the Middle East, and Asia Pacific.
“This is a great acquisition for Lab21. Plasmatec is a highly successful business and gives further critical mass to our diagnostic products division. This acquisition follows the purchase earlier this year of Biotec Laboratories and underlines the momentum of our buy-and-build strategy,” explains Graham Mullis, CEO of Lab21.
Ian Gilham, Axis-Shield CEO, says the company felt Lab21 was 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 point-of-care.”
Lab21 Acquires Biotec Laboratories to Expand Diagnostic Focus (Mar. 3, 2009)