Diagnostic Capital gains traction after strong first year

DIAGNOSTIC Capital, the niche corporate advisory firm created by dealmaker Alex Clarkson, has added to its team after a strong first year of trading.

Mr Clarkson, formerly with Zeus, launched Diagnostic Capital which specialises in the bio-medical and science sectors, in early 2012.

It advised in four deals during the year, the most recent, and largest being a £2.6m fundraising for Daresbury-based Proveca, a paediatric speciality pharma company.

As well as Proveca, Manchester-based Diagnostic Capital has secured equity financing for logistics specialist Loksys and invested £400,000 itself into a leading personalised medicine company.

It has also advised Harvey Walsh, the market access business, on its sale to OPEN Health, part of Chime Communications, and undertook a strategic review of L3 Technology on behalf of its shareholders.

Mr Clarkson, who has assembled a strong team to work with him, including experienced investor and non-executive Adrian Gare, told TheBusinessDesk.com: “I have been really pleased with the response to Diagnostic Capital, we have a busy pipeline of deals, but the market is tough.

“As well as our science-based activity, which accounts for around two thirds of our time, we are also working for clients in other sectors.”

Chairman Chris Brinsmead, a former past chairman and president of AstraZeneca Pharma in the UK added: “We are currently engaged on a range of other transactions that we hope to conclude in the first half of 2013 and are keen to be appointed to other transactions where our unique expertise and contacts can make a difference and add value.”

As well as Adrian Gare, Diagnostic Capital is working with experienced director Stephen O Hara and finance director Jan Young.