A Devon healthcare firm, which has grown into a leading provider of diagnostic services for clinical trials and the NHS, has been acquired.
Plymouth-based Express Diagnostics specialises in providing analysis of heart conditions, as well as hearing and health screening services.
Originally founded in 1994 as Cardio analytics, the company said it had seen “considerable” commercial expansion over the past 15 years, and now operates a private clinic at Plymouth Science Park, next to Derriford hospital
The firm has now been bought by Berkshire-based health data firm Inuvi for an undisclosed sum. Inuvi delivers more than 100,000 health assessments and phlebotomy visits every year through its national network of mobile health practitioners, and completes millions of blood tests at its laboratory on the Churcham Business Park in Gloucestershire.
Inuvi chief executive Jonathan Benton said: “We are delighted to welcome Express Diagnostics to the Inuvi Group. Express Diagnostics’ expertise in offering easily accessible, high-quality cardiology and audiology services is a significant addition to the Inuvi Group, broadening the range of services we offer and further establishing Inuvi as a leading provider of expert diagnostic services.”
South West dealmakers PKF Francis Clark supported Inuvi on the purchase. Dave Armstrong, corporate finance director at PKF Francis Clark, was responsible for introducing the two parties.
Mr Armstrong said: “Over the past 29 years, Express Diagnostics has grown to become a leading cardiology service provider for the NHS and clinical trials industry, as well as establishing its own private clinic in Plymouth.
“The acquisition of Express Diagnostics complements Inuvi’s existing health assessment and laboratory testing businesses. We were pleased to advise on this high-profile transaction for the city of Plymouth and wish the combined group continued success.”s
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