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news.Lab21, a specialist diagnostic services and healthcare products company, has closed a GBP2.2 million round of financing from international private equity investors.
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According to the company, the new funds will be used to progress its acquisition plan and to establish its US operations in South Carolina to expand its presence in the North American market. The company expects to complete on two European company acquisitions during the second half of 2009.
Graham Mullis, CEO of Lab21, said: “Given the very difficult financial markets of the past six months, I am delighted to welcome two new investors to Lab21 which is a significant endorsement to the growth strategy of Lab21.
“With new capital, we anticipate closing a number of company acquisitions. 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.”