Medical Solutions to buy Geneservice

Published: 11-Jun-2007
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Diagnostics and healthcare business Medical Solutions of Nottingham, UK, has conditionally agreed to acquire the entire issued share capital of Geneservice Ltd of Cambridge for


Diagnostics and healthcare business Medical Solutions of Nottingham, UK, has conditionally agreed to acquire the entire issued share capital of Geneservice Ltd of Cambridge for £3.86 m in cash and loan notes.

Geneservice is a private UK-based company offering genomic products and technology services for applications in life sciences and clinical research and development. The company's revenue for the period ended 28 February 2007 improved by 35% to £2.4m compared with the period ended 31 March 2006.

The Medical Solutions group has been looking to enhance its portfolio of products and services to include DNA and RNA based techniques. Dr Tom Weaver ceo of Geneservice, will join the board of Medical Solutions.

The acquisition is conditional upon the approval of Shareholders at the EGM.

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