Acquisition by EKF Diagnostics Holdings plc
4th October 2010
Zeus Capital are pleased to announce that they recently advised EKF Diagnostics Holdings plc (“EKF”) on its acquisition of Quotient Diagnostics Limited (“Quotient”) for a maximum total consideration of £5.41 million.
EKF is an AIM listed company which is focused on the in-vitro diagnostic devices market. As EKF’s presence in the diabetes testing sector of the market is developing, the Company believed it was important that it had a platform in HbA1c testing that is easy to use, has IP, can be manufactured at a competitive price and be sold in both the major diabetes markets (Western Europe and the US) as well as the emerging markets (China). Quotient has such an HbA1c platform and the Board believes that its Quo-Test and Quo-Lab test systems fulfil this requirement.
Julian Baines, EKF’s CEO, commented:
“The acquisition of Quotient is a great opportunity for EKF to expand its diabetes portfolio. The importance of HbA1c testing for diabetics is well documented and is one of the fastest growing areas of Point of Care. The acquisition will also enable EKF to have a stronger presence in China and Quo-Test will immediately be introduced into EKF’s worldwide distribution base. Placing Quo-Test alongside our existing Biosen and Hemocontrol products is the first stage of building a portfolio of Point of Care products that cover both emerging markets and established markets. This is without doubt a very exciting opportunity for EKF and, as our second acquisition, it demonstrates that we are delivering on our strategy of building a leading diagnostics business through both acquisition and organic growth.”