Concepta acquires outstanding shares in The Genome Store

23rd Nov 2020 10:04

(Sharecast News) - Healthcare company Concepta has acquired 100% of the outstanding share capital of The Genome Store in a deal worth as much as £520,000.
Concepta will make an initial consideration of £280,000 in shares for the provider of home-administered postal genomic test services, with a deferred consideration of up to £240,00 payable in shares subject to agreed performance milestones being met.

The AIM-listed group stated the acquisition delivered upon one of the group's key strategic areas of focus, namely growing its product portfolio into other areas of personalised health and female health products.

Concepta highlighted that the genomic testing service provided a complementary portfolio of products to its personalised fertility tracker.

Chief executive Penny Mccormick said: "As the testing horizon changes, we look forward to working with our new team in the expansion and launch of our initial development pipeline.

"We remain committed to the development of connected technology through our fertility testing platform, whilst adding to our portfolio to support personalised family health."

As of 1000 GMT, Concepta shares had shot up 19.44% to 1.08p.