Acquisition
Diagnostics specialist Avacta Group plc has acquired of YorkTest Veterinary Services Limited (YTVS) for £825,000 cash, with £700,000 payable at completion and a further deferred element of up to £125,000 subject to completion accounts.
YTVS provides a complete allergy testing service to veterinary practices in the UK, EU and worldwide. The technology enables the analysis of blood samples from dogs, cats and horses to assist in the diagnosis and treatment of adverse reactions to foods, pollens, insects and moulds.
Avacta, a spin out from Leeds University, is developing technology products and services with both human and veterinary diagnostics applications. The lower regulatory hurdles associated with the veterinary market allows for near-term opportunities in this market.
Avacta has been collaborating with YTVS to develop a new veterinary diagnostics technology, MIDAS, for allergy testing. The product is expected to be launched later this year.
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