Tue, 25 Jun 2024 | BUSINESS SALE
OLM Diagnostics, a Newcastle-based company that develops diagnostic tests for the healthcare sector, has been acquired by US manufacturer and distributor IMMY. OLM Diagnostics, which was founded in 2014, has developed fungal diagnostics products that are able to reduce the rate of drug resistant infections.
Oklahoma-based IMMY said that the acquisition of OLM’s “cutting-edge molecular diagnostics portfolio” would enhance the company’s “vision and portfolio” and improve its offering to customers and partners.
Gen McGonnell, Managing Director and founder of OLM, commented: “In our ten-year journey, OLM's focus on diagnostic innovation for fungal infections, fueled by collaboration and a strong team ethic, has set us apart. Joining IMMY marks an exciting new chapter.”
“We are thrilled to leverage IMMY’s additional resources and capabilities to enhance our product portfolio and expand our molecular diagnostics range in this field. This merger creates a comprehensive portfolio, empowering us to better serve patients in this often-overlooked area.”
IMMY CEO Sean Bauman said that the deal not only expands the company’s product portfolio, but would also strengthen its “commitment to empowering laboratorians and clinicians with cutting-edge tools for precise identification of fungal disease.”
The deal was advised on by Sintons, with partner Emma Pern leading the transaction along with solicitor Leigh Garbutt. Ged McGonnell said that OLM had worked with Sintons on its commercial requirements for several years. adding: "When we made the decision to sell the business, we set about working with Emma and her team. Their attention to detail was outstanding, coupled with their ability to explain things in a simple way which helped and reassured us immensely."
Read more about what's driving M&A activity in the UK's fast-moving medical technology sector
Discover what's attracting overseas buyers to UK company acquisitions
Established for over 30 years, the business is located near a seaside town providing a range of care solutions for the Elderly (over 65’s); it is now on the market for sale. In addition to offering Residential care, the business also specialises in,...
FREEHOLD
Offering for sale a group of elderly care homes conveniently clustered in the East Midlands. The management run businesses are well presented and would be ideal to new entrants to the sector or an acquisitive local/regional operator.
FREEHOLD
Offer the opportunity to acquire two highly profitable purpose-built care homes conveniently clustered in the Northwest. All 105 bedrooms have en suite facilities and the homes enjoy consistently high occupancy and currently (April 2024) are at 95% e...
FREEHOLD
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.