Omega Diagnostics is to acquire the lab-based testing business of German allergy testing company Allergopharma £5.1 million.
Medical testing company Omega Diagnostics has agreed to acquire the lab-based testing business of German allergy testing company Allergopharma Joachim Ganzer for €6 million (£5.1 million).
The acquisition of the in vitro diagnostics (IVD) business is to be financed by a £7.75 million share placing on AIM.
David Evans, non executive chairman of Omega Diagnostics, comments: ‘This acquisition enables Omega Diagnostics to enter the global, mainstream allergy testing market. It is a very attractive, growing market which we know well and the acquisition complements our existing intolerance testing business.’
Scotland-based Omega Diagnostics produces medical testing products for conditions such as food intolerance and autoimmune disease. Its products are exported to around 100 countries. The AIM-listed company currently employs 65 staff, and in the year to March 2010 declared a pre-tax profit of £600,000 on a turnover of £6.2 million.
Allergopharma’s IVD business was established in 1990 and it produces allergy testing kits for medical practitioners. In the six months to June 2010 the business declared a turnover of €2.2 million. The company employs 29 staff and over 96 per cent of its sales are made in the German market.
