EKF Diagnostics (LON:EKF) , the AIM listed point-of-care diagnostics business, has agreed a deal to sell its remaining rights in the Admiral sportswear brand for around £830,000 in cash. The deal takes the total consideration for the sale of Admiral in all territories in 2010 to in excess of £1.8m.

EKF has spent much of 2010 re-focusing its strategy on in-vitro diagnostics having previously specialised in sports marketing under the guise of International Brand Licensing plc. The group firth embarked on a disposal strategy back in 2005 and has since raised approximately £10m through the disposal of Mountain Equipment, Admiral and various sponsorship terminations.

Late last year the group changed its name to EKF and said it intended to use International Brand Licensing as a vehicle to build a group focused on the in-vitro diagnostics industry, through acquisition. Those deal began flowing in June with the acquisition of EKF-diagnostic GmbH, which was followed by Quotient Diagnostics and Argutus Medical.

Julian Baines, the chief executive of EKF, said: “Since my arrival at EKF Plc and the re-focussing of the group into a vitro diagnostic's business, we have sought the disposal of non-core assets and I am delighted that we have now concluded the sale of the remaining Admiral sportswear territories, the net proceeds will be used to further enhance the growth of our underlying business.”

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