EKF Diagnostics acquires Argutus Medical

Thursday, Dec 09 2010 by

EKF Diagnostics Group, the buy and build point of care diagnostics company recently re-launched by Julian Baines and David Evans, has announced its third acquisition. The company is buying Dublin based Argutus Medical Ltd., which specialises in developing biomarkers for organ injury. In the all-paper deal, EKF plans to issue 9.7 million shares at 22.43p to the vendors for a total consideration of £2.2 million.

Argutus, which was spun out of Biotrin International via an MBO in 2008, has discovered and developed a number of diagnostic tests kits for the early detection of kidney, liver and pancreas injury. Following the acquisition, EKF will focus on commercialising point of care diagnostic products for the early detection of kidney damage in diabetics.

Cormac Kilty, Argutus CEO, will join the EKF management team as chief technology officer following the completion of the acquisition.


Disclaimer:  

This note was prepared by LCF Research Limited using information provided by the subject company’s management or publically available news sources. No representations are made nor warranties given (express or implied) in relation to accuracy and completeness. This document is not an invitation to invest in the subject company and does not purport to contain all the necessary information that a prospective investor might require. LCF Research Limited recommends prospective investors to conduct their own thorough independent analysis of the subject company and the information contained in this note or referred to above.


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EKF Diagnostics Holdings plc is engaged in developing, manufacturing and supplying of products and services into the in-vitro diagnostic (IVD) market place. The Company manufactures and sells diagnostic instruments, reagents and certain ancillary products. The Company's point-of-care range includes hemoglobin analyzers, HbA1c analyzers and glucose analyzers for use in the screening, monitoring and diagnosis of patients, as well as rapid tests for pregnancy and common infectious diseases. The Company's Central Laboratory division includes a range of products for use in both large and small laboratory facilities. Its subsidiary, EKF Life Sciences, provides bulk diagnostic enzyme manufacturing and fermentation services. EKF Life Sciences specializes in producing enzymes, including Salicylate Hydroxylase and Beta-Hydroxybutyrate Dehydrogenase. Its products include Quo-Test A1c, Biosen C-Line and Biosen S-Line, STAT-Site M B-HB analyzer, sTNFR1 biomarker test kits and Altair 240. more »

LSE Price
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Mkt Cap (£m)
67.9
P/E (fwd)
41.7
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n/a



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