Acquisition boosts healthy performance
Lab services provider SourceBio International has “traded well” so far in 2022 and is looking to to accelerate growth in its three core business units.
The Nottingham-based business boosted its healthcare diagnostics division in March with the acquisition of LDPath, a pioneer in digital scanning technology for histopathology.
SourceBio’s executive chairman Jay LeCoque will tell the company’s AGM later that the “integration of LDPath within SourceBio is progressing well with LDPath trading ahead of plan”.
He will add: “The highlight of the period has been the exceptionally strong market demand for our Cellular Pathology services within the Healthcare Diagnostics business unit”.
SourceBio’s other units, genomics and stability storage, are also performing well.
SourceBio was founded in 2016 and went public in October 2020, raising £35m as it floated on the Alternative Investment Market.
Like many life sciences companies, its share price has stutterted since. Last night’s close of 121p was 25% below its float price, and nearly half of its January 2021 peak.
