Lab21 successfully closes

Published: 5-Jan-2009
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Lab21, a UK-based specialist diagnostic services and products healthcare company, has closed a


Lab21, a UK-based specialist diagnostic services and products healthcare company, has closed a £2.2m (Euro 2.3m) round of financing from leading international private equity investors.

The new funds will be used to progress its acquisition plan and to expand its presence in the North American market by establishing its US operations in South Carolina.

"Given the very difficult financial markets of the past six months, I am delighted to welcome two new investors, which is a significant endorsement to the growth strategy of Lab21," said Graham Mullis, ceo of Lab21. "With new capital, we anticipate closing a number of company acquisitions. This investment will also allow Lab21 to commence its expansion plans overseas."

The company expects to complete on two European acquisitions during the first half of 2009.

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