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New Deal


Announced

Novacyt to acquire IT-IS International for $13m.

Financials

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Transaction Value£10m
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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diagnostic services

Domestic

United Kingdom

Medical Equipment

Pending

Private

Single Bidder

Majority

Friendly

Acquisition

Synopsis

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Novacyt, an international specialist in clinical diagnostics, to acquire IT-IS International, a profitable diagnostic instrument development and manufacturing company, for $13m. “We are delighted to announce this strategically important acquisition of IT-IS and we welcome the employees to the Novacyt Group. IT-IS has established a reputation as experts in the development of mobile and rapid PCR instruments. Novacyt has been working with IT-IS for more than five years through the sale of the q16 and q32 instruments. During this time, IT-IS has proven the quality, performance and reliability of its mobile PCR platform. This acquisition ensures that Novacyt is in a strong position to fulfil the growing market demands for rapid near-patient testing of COVID-19, as well as other infectious diseases," Graham Mullis, Novacyt CEO.

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