Acquisition and Fundraising for EKF Diagnostics Holdings plc
23rd June 2011
Zeus Capital has acted as Nominated Adviser and Joint Broker to EKF Diagnostics Holdings plc (a point of care diagnostics medical devices business) on their proposed $25.5 million acquisition of Stanbio Laboratory L.P. and the related £13 million fundraising.
Stanbio is an established 50 year old US based medical diagnostic devices distribution and manufacturing business, with a strong brand and robust product sales. It sells a broad range of products (including EKF’s Hemo_Control device), either direct to a high quality customer base such as Roche Diagnostics Corporation, or through a distribution network focused on North and South America, which complements the existing EKF distribution network.
This acquisition provides the Company with exposure to the US market; the largest point of care diagnostics market in the world.
Ross Andrews, Director at Zeus Capital commented:
“Zeus Capital introduced David Evans and Julian Baines (a management team that Zeus have advised historically) to the Company in 2009. At this time the company changed its focus to one of building a business within the diagnostics market place. In 2010, Zeus advised on the acquisition of EKF-diagnostic GmbH and £15 million fundraising and now is delighted to have advised on the latest acquisition and £13 million fundraising.”