Immunodiagnostic Systems, the Newcastle based niche diagnostics company, released a trading update anticipating FY 2011 sales of £50.1 million (2010: £37.2 million). 101 IDS-iSYS instruments were sold or placed in H2 (vs.66 in H1), bringing the total number post launch to 241. The average reagent rental per installed system was £102,000 (2010: £77,000) and manual Vitamin D sales were £27.9 million (2010: £22 million).
An agreement has been signed with Omega Diagnostics Group PLC (qv) giving them the exclusive rights to develop and distribute their range of allergy products on IDS-iSYS. IDS receives a licence fee, a royalty on Omega automated product sales and revenues from both instrument and consumable sales.
Disclosure of Interest: London Capital Investment Partners "Gainsborough" managed by LCF has a position in IDH.
