BDB Pitmans advises leading biotechnology company on strategic acquisition
Top 100 UK law firm BDB Pitmans, has advised leading biotechnology company Source BioScience Limited (Source) on its acquisition of top private histopathology provider, LDPath Limited (LDP).
Specialising in integrated state-of-the-art laboratory services and products, AIM-listed Source is headquartered in Nottingham with locations in Cambridge, Rochdale, Ireland and San Diego, USA. The company works closely with a number of healthcare providers, including the NHS, providing integrated laboratory services internationally. It is intended that the merger will give Source access to nationwide-scale contracts, feeding in to its plans for further expansion.
The merger has created the most technically advanced private provider of cellular and digital pathology services in the UK to-date. Through the acquisition, Source will have access to LDP’s pioneering intellectual property Digital Pathology platform which with the introduction of access to multidisciplinary teams (MDT)s and artificial intelligence (AI) expected to revolutionise pathology services delivery. By focusing on digital pathology, it is expected that diagnosis can be reached faster and the backlog of elective surgeries built up during the pandemic, cleared more effectively.
BDB Pitmans team was led by corporate partner Nick McCarthy and tax partner Alex Barnes, assisted by senior associate Daniel King with additional support provided by corporate solicitor Zoe Symes and trainee solicitor Meagan Parent.
Nick McCarthy, partner, commented: