Lab21, a provider of health and environmental diagnostics, has acquired NPTech, an independent clinical laboratory providing diagnostic testing services for the NHS and private healthcare providers
The acquisition of NPTech, in an undisclosed financial transaction, significantly broadens Lab21's range of diagnostic tests.
NPTech brings food intolerance testing; chemical and mould sensitivity testing; blood tests for a range of conditions; basic clinical chemistry; and salivary hormone testing.
Lab21 now has the ability to test for intolerances to over 100 food products and 50 chemicals including food colourings (E-numbers), antibiotics, anti-inflammatories and environmental chemicals.
In addition, NPTech has multiple other diagnostic tests for a variety of clinical disorders including salivary tests for adrenal hormones, sex hormones and sleep disturbance together with a range of clinical biochemistry blood testing, particularly in the area of thyroid disease diagnosis and management.
NPTech has developed an excellent reputation for providing a quality service to a diverse range of international customers.
Not only does the acquisition extend Lab21 interests into the allergy market it also significantly develops its underlying clinical chemistry capability to support its cutting edge products.
Graham Mullis, CEO of Lab21, said: "This is an excellent acquisition for Lab21.
"NPTech's range of services complement those already offered by Lab21, and will significantly enhance the range of tests we can offer.
"I am also delighted that NPTech is the first of what will be a number of acquisitions during 2008".
In addition to the range of tests, Lab21 will also benefit from the skills and experience of senior staff at NPTech, including Ron Turner who founded the company in 2002 and who will become laboratory director at Lab21.
Lab21 has also appointed, BDO Stoy Hayward to lead its M+A activity in Europe.
Peter Hemington, corporate finance partner at BDO, commented: "We are delighted to be chosen by Lab21 in pursuit of its aggressive M+A strategy for 2008 and excited to be working in the sectors of healthcare diagnostics and environmental monitoring."
