A Medical Device Daily
Anglo-Norwegian diagnostics company Axis Shield (Dundee, Scotland) reported that it has sold its subsidiary Plasmatec Laboratory Products (Dorset, UK) to Lab21 (Cambridge, UK) for an undisclosed amount.
"This divestment reflects our increasing focus on high- margin diagnostic technologies, markets and our investment in state-of-the-art testing at point of care," Axis-Shield CEO, Ian Gilham said.
Gilham said he was pleased with the Plasmatec contribution since it was acquired, but felt Lab21 was better placed to develop the business.
Axis-Shield, develops and manufactures in vitro diagnostic tests, a medical test done in test tubes and on other biological samples to diagnose a disease.
Plasmatec deals with the manufacturing, sale and distribution of in vitro diagnostic tests.