Supporting Health Tech Growth
Revenues at Novacyt increased by more than 20 times after the COVID-19 tests that they manufacture were one of the world’s first to be approved. The AIM-listed diagnostics company is listed in London and Paris and has a head office in Camberley, Surrey.
As you would expect Novacyt continued strong trading due to the successful global commercialisation of its COVID-19 product portfolio and continues to evaluate M&A opportunities and consider additional bolt-on acquisitions.
Graham Mullis, Chief Executive, said: “2020 has been transformational. We have cemented our early mover advantage of developing one of the first tests for COVID-19 into an established position within COVID-19 testing and the broader diagnostics market. We signed significant contracts with national governments, supplied our products to over 130 countries and continued to develop innovative testing capabilities.”
How did we help?
Our corporate team advised Novacyt on its £12 million acquisition of the entire share capital of IT-IS International Limited, a diagnostic instrument development and manufacturing company.
The acquisition strengthens Novacyt’s position in the market and supports the longer-term growth opportunity for rapid near-patient testing as well as securing key IP and expanding the product offering and core capabilities in instrument manufacturing.
We frequently advise long-standing client Novacyt on both corporate and commercial transactions.
For information click here.