Lab21 gains Biotec’s infectious disease testing products and South African subsidiary.
Lab21 bought the majority shareholding of Biotec Laboratories, a clinical diagnostic company with particular emphasis on infectious diseases. As part of the sale, Lab21 also acquired Biotec’s South African subsidiary, Biotec Laboratories SA, which is a joint venture with the Cape Biotech Trust.
“Our combined businesses, which have very complementary products, provide a great platform from which to build further our infectious disease and immunodiagnostic portfolio,” remarks Graham Mullis, CEO of Lab21.
The two companies have had an ongoing commercial relationship, with Biotec distributing some Lab21 diagnostic products in 80 countries. Biotec Laboratories, based in Johannesburg, developed phage-amplification technology that is being used to develop diagnostic and susceptibility tests for both active and drug-resistant TB.
“In order to be internationally competitive, the U.K.’s diagnostics sector has long needed consolidation,” points out Peter Ellis, CEO of Biotec Laboratories.