Lab21 Buys NPTech

Lab21, a UK-based provider of health and environmental diagnostics, has acquired NPTech Ltd., a provider of diagnostic testing services for the British NHS and private healthcare providers in the UK and parts of Europe. No financial terms were disclosed. Lab21 has raised VC funding from firms like Merlin Biosciences and Kreos Capital.

 

PRESS RELEASE 

Lab21, a leading provider of health and environmental diagnostics, has acquired NPTech Ltd, an independent clinical laboratory company providing diagnostic testing services for the NHS and private healthcare providers in the UK and parts of Europe.

 

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 LLP 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.”

 

About Lab21
Lab21 is a global provider of state-of-the-art diagnostic products and services, supporting drug discovery, healthcare and environmental monitoring. Its customers include healthcare providers, pharmaceutical and biotechnology companies, in addition to organisations that need to monitor their impact on the environment.

 

The Company has a growing test portfolio providing companion diagnostics and high technology assays for the growing integration of personalised medicine into healthcare. These services and products are currently in infectious diseases, oncology and pharmacogenetics areas with emerging interests in cardiovascular and metabolic disease.

 

Lab21's environmental monitoring business specialises in the detection of heavy metal contamination in soil and water. Its products provide information to help organisations take action to reduce pollution and to protect the water supply of millions of people globally.

 

Lab21's clinical reference laboratory and corporate office is based in Cambridge and employs 48 people. The Company's investors include Merlin Biosciences and Kreos Capital.