YorkTest acquired by Avacta

YorkTest has been acquired by Avacta for 825,000 pounds.

The deal will see 700,000 pounds handed over on completion of the deal, with the remaining 125 subject to the close of accounts.

Managing director of YorkTest Janice Hogg noted the company has grown from a “small start-up” to a “leading specialist” laboratory in the UK.

She continued: “I am very proud of our reputation and this will be further enhanced by becoming part of the prestigious Avacta group.”

Ms Hogg went on to say the company will continue to deliver its support programme to veterinary customers around the world.

Chief executive officer of Avacta, Alastair Smith, added he was “absolutely delighted” YorkTest was becoming part of the group.

The transaction follows a collaboration between the two companies which saw the joint development of the Midas veterinary diagnostics tool – scheduled to be launched later this year.

Based in the north of England, YorkTest’s products include Foodscan 113, Body ID Plan and Homocysteine.