A Medical Device Daily
Lab21 (Cambridge, UK), a diagnostic services and products company, reported that it has closed a £2.2 million round of financing from international private equity investors. The company said that the new funds will be used to exted its acquisition plan and to establish its U.S. operations in South Carolina, thus expanding its presence in the North American market.
"With new capital, we anticipate closing a number of company acquisitions," said Graham Mullis, CEO of Lab21. "This investment will also allow Lab21 to commence its expansion plans overseas where we believe our brand and strong focus on quality and service will be well received," he added.
Nexus Medical Partners, and Rowan Dartington join Merlin Biosciences and Kreos capital as shareholders.
Dr. Ed Snape, co-founder and head of the healthcare practice at Nexus Medical Partners, will join the Board of Lab21.
In other financing news: Motion Computing (Austin, Texas) said it has received funding of $6 million from New Enterprise Associates, Institutional Venture Partners, G-51 Capital, and other new investors.
The company said that the funds will be used to drive continued expansion into the healthcare market and support international growth opportunities.
The Motion C5, a mobile clinical assistant, is now deployed in more than 4,000 healthcare organizations worldwide. Additionally, Motion recently reported entering new markets with the F5 rugged field tool, which is being used across vertical industries that require a highly durable device in a lightweight and portable design.
Motion provides mobile computing products and services for healthcare and other vertical markets.