REG - Abingdon Health PLC - Completion of Acquisition of Compliance Solutions

Abingdon HealthAnnouncement

15/08/2024 16:00

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RNS Number : 6544A  Abingdon Health PLC  15 August 2024

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF
THE UK VERSION OF REGULATION (EU) NO 596/2014 WHICH IS PART OF UK LAW BY
VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018, AS AMENDED ("MAR"). UPON
THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE,
THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

 

 

Abingdon Health plc

("Abingdon Health" or "the Company")

 

Completion of Acquisition of Compliance Solutions

 

York, U.K. 15 August 2024: Abingdon Health plc (AIM: ABDX), a leading
international lateral flow contract research (CRO) and contract development
and manufacturing organisation (CDMO), is pleased to announce the completion
of the acquisition of the CS Lifesciences  group ("Compliance Solutions"), a
consultancy business which specialises in meeting compliance (Quality/
Regulatory/ Clinical)  requirements in international IVD and medical device
markets.

 

Application has been made for the admission to trading on AIM ("Admission")
for the 9,216,590 new initial Consideration shares (as defined in the
announcement dated 24 July 2024). It is expected that Admission will become
effective on 19 August 2024.

 

Following the issue of the new 9,216,590 initial Consideration shares the
Company will have a total of 189,523,153 Ordinary Shares in issue. The Company
does not hold any shares in Treasury.

 

The above figure may be used by shareholders as the denominator for the
calculations by which they will determine if they are required to notify their
interest in, or a change to their interest in, the Company under
the FCA's Disclosure Guidance and Transparency Rules.

 

The above information is provided by the Company in accordance with its
obligations under the FCA's Disclosure Guidance and Transparency Rules.

 

The Company intends to launch, shortly, an offer to its retail shareholders at
the same price as the recent placing, 9.75p per share.

 

Chris Yates, CEO, commented:

 

"We are delighted to welcome Edwin Lindsay and all the Compliance Solutions
team to the Abingdon Health group. The acquisition of Compliance Solutions
deepens and broadens Abingdon's regulatory service offering allowing us to
fully support our customers in bringing their products from idea to commercial
success."

 

Edwin Lindsay, Managing Director of Compliance Solutions, commented:

 

"We are delighted to join the Abingdon group and we look forward to working
with the Abingdon team to support our growing customer base across the In
Vitro Diagnostic and Medical Device Market. The regulatory landscape is going
through a period of significant change and the enlarged group is well placed
to support customers in navigating this complexity to achieve and maintain
successful product registrations.".

 

 

Enquiries

 

 Abingdon Health plc                    www.abingdonhealth.com/investors/ (http://www.abingdonhealth.com/investors/)
 Chris Yates, Chief Executive Officer   Via Walbrook PR
 Chris Hand, Non-Executive Chairman

 Zeus Capital Limited (Nominated Adviser and Broker)                             Tel: +44 (0) 20 7220 1666

 Chris Fielding / Isaac Hooper (Corporate Finance)
 Fraser Marshall (Corporate Broking)

 

The person responsible for arranging the release of this announcement on
behalf of the Company is Chris Yates, Chief Executive Officer of the Company.

 

About Abingdon Health plc

Abingdon Health is a leading lateral flow contract research (CRO) and
contract development and manufacturing organisation (CDMO) offering its
services to an international customer base across industry sectors that
include clinical, animal health, plant health, and environmental
testing. Abingdon Health has the internal capabilities to take projects from
initial concept through to routine and large-scale manufacturing; from "idea
to commercial success."

 

The Company's CDMO division offers product development, regulatory support,
technology transfer and manufacturing services for customers looking to
develop new assays or transfer existing laboratory-based assays to a lateral
flow format. Abingdon Health aims to support the increase in need for rapid
results across many industries and locations and produces lateral flow tests
in areas such as infectious disease, clinical testing including companion
diagnostics, animal health and environmental testing. Faster access to results
allows for rapid decision making, targeted intervention and can support better
outcomes.

 

Abingdon Health's Abingdon Simply Test™ range of self-tests is an
ecommerce platform that offers a range of self-tests to empowers consumers to
manage their own health and wellbeing. The Abingdon Simply Test
(http://www.abingdonsimplytest.com/) ™ ecommerce site offers consumers a
range of information to support them in making informed decisions on the tests
available. In addition, the site provides Abingdon's contract services
customers with a potential route to market for self-tests. The Abingdon Simply
Test range is also sold through international distributors and through other
channels in the UK and Ireland such as pharmacy chains.

 

Founded in 2008, Abingdon Health is headquartered in York, England.

For more information visit: www.abingdonhealth.com
(http://www.abingdonhealth.com/)

 

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