Medical Solutions to acquire Autogen Bioclear

Published: 19-Feb-2008
Regulatory

UK company Medical Solutions, a provider of serv-ices and products to the healthcare, pharma biotech and life sciences research sectors, has agreed subject to shareholder approval to acquire Autogen Bioclear UK for a total consideration of up to


UK company Medical Solutions, a provider of serv-ices and products to the healthcare, pharma biotech and life sciences research sectors, has agreed subject to shareholder approval to acquire Autogen Bioclear UK for a total consideration of up to £6m payable in cash.

Autogen Bioclear distributes a wide range of spe-cialist products for applications in life sciences, diag-nostic pathology and clinical research. Products in-clude antibodies, diagnostic assays for cancer and other genetic testing, DNA clones and molecular diag-nostics. Chris and Jane Lear, the current owners and directors of Autogen Bioclear will assume senior man-agement roles at Medical Solutions.

According to Medical Solutions managing director Nick Ash, the company will benefit from an expanded product offering, enhanced customer base, cross-selling opportunities and access to products and rea-gents for use in its laboratories at distributor prices.

This is the company's second acquisition since it completed the disposal of its Dubai operations for £16.4m in November 2006. It says it will continue to look for suitable acquisition targets to further grow revenue and profit streams.

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