EKF Diagnostics Holdings PLC AGM Statement (8527L)
18 Mayo 2022 - 9:03AM
UK Regulatory
TIDMEKF
RNS Number : 8527L
EKF Diagnostics Holdings PLC
18 May 2022
EKF Diagnostics Holdings plc
("EKF", the "Company" or the "Group")
AGM Statement
EKF Diagnostics Holdings plc (AIM: EKF), the AIM-listed global
diagnostics business , provides an update to shareholders ahead of
its Annual General Meeting ('AGM') today at Harwood Capital, 6
Stratton Street, Mayfair, W1J 8LD at 11.00 a.m.
As previously announced, the Company is providing a facility for
shareholders to listen in to the AGM, either online or
telephonically (in a non-voting capacity) and investor questions
will be addressed afterwards. For dial-in details please contact
Walbrook PR via email at ekf@walbrookpr.com or call +44 (0)20 7933
8780.
Chairman's AGM statement
"We were delighted to announce at the end of March a record set
of financial results for 2021 and provide confirmation of our
ongoing focus on implementing a strategy that positions our
business for sustainable future growth.
In the new financial year we have already made good progress in
implementing our investment plans to support this growth. We have
made significant investment to expand the fermentation capabilities
of the Life Sciences business at our South Bend, Indiana, facility.
We have a demand-driven pipeline of opportunities that is expected
to start flowing strongly once the investment in new fermenters is
completed by the end of the current year, and we remain on track to
have the capacity in place to support significant revenue growth
through to 2024.
We are also making good progress in redeploying our Contract
Manufacturing and Laboratory Services capacity and skill set into
non-COVID related areas. In Contract Manufacturing we are actively
working with new partners to build a strong pipeline for non-COVID
products. This includes delivering validation batches for products
which are expected to be launched throughout 2022 and into 2023. In
Laboratory Services, the ADL Health team are expanding their range
of testing capabilities across a broader suite of healthcare
applications and are progressing well.
Trading in the first quarter has been strong and we have
delivered first quarter revenues in line with that of the
corresponding period in 2021, and we remain on track to deliver
full year results in line with current market forecasts. In our
established Point-of-Care and Central Laboratory businesses we
continue to see market growth following the COVID slowdown and in
the first quarter have seen sales growth compared with 2021.
As a Board we remain confident in delivering on our growth
strategy to 2024 and I would like to thank my fellow shareholders
for their support."
EKF Diagnostics Holdings plc www.ekfdiagnostics.com
Mike Salter, CEO Tel: +44 (0)29 2071 0570
Marc Davies, CFO
Singer Capital Markets (Nominated Adviser & Tel: +44 (0)20 7496 3000
Joint Broker)
Aubrey Powell / George Tzimas
Investec Bank plc (Joint Broker) Tel: +44 (0)20 7597 4000
Gary Clarence / Daniel Adams / Ben
Farrow
Walbrook PR Limited Tel: +44 (0)20 7933 8780 or ekf@walbrookpr.com
Paul McManus / Lianne Applegarth Mob: +44 (0)7980 541 893 / +44 (0)7584
391 303
About EKF Diagnostics Holdings plc ( www.ekfdiagnostics.com
)
EKF is a leading global diagnostics business with custom
manufacturing facilities across sites in the US, UK and Europe for
a variety of life science products. EKF is focussed on the
following areas:
Point-of-Care Providing a portfolio of Point-of-Care analysers and
consumables, particularly for use in the area of Hematology
and Diabetes, for use in hospital and research laboratories,
doctor's offices, blood banks and for in-field anaemia
screening programmes. EKF has an estimated 80,000
hemoglobin, hematocrit, HbA1c, glucose and lactate
analysers in regular use across more than 100 countries.
Central Laboratory Clinical chemistry, Small lab analysers, Centrifuges
Beta-Hydroxybutyrate (<BETA>-HB) LiquiColor , Glycates
Albumin, Glycated Serum Protein, Nitro-tab, Procalcitonin
Life Sciences Enzyme fermentation, Custom products and Bulk fermentation
Contract Manufacturing Bulk formulation, Sample collection kits, Private
labelling, Molecular and forensic kits
Laboratory Services In September 2021, EKF completed the acquisition of
Advanced Diagnostic Laboratory LLC ("ADL Health")
, a Texas based testing laboratory certified under
the Clinical Laboratory Improvement Amendments ("CLIA")
for high complexity testing. The laboratory provides
testing for a variety of clinical, forensic and microbiological
sample types using a range of analytical techniques.
This acquisition positions EKF as a leading 'one stop'
provider of diagnostic products and services from
sample collection to results.
EKF's growth strategy to 2024 and beyond can be summarised
as:
-- continuing innovation in products and services in Point-of-Care,
Central Laboratory and Life Sciences leveraging new and existing
routes to market and relationships;
-- investment in expanded production and kitting capabilities to offer
a suite of diagnostic Contract Manufacturing solutions to third
party businesses;
-- expansion of CLIA Laboratories Testing offering, building on the
acquired capabilities in ADL Health; and
-- concluding complementary earnings-enhancing acquisitions with key
strategic value.
EKF will also continue to generate enhanced shareholder value
through:
-- a progressive dividend policy; and
-- its agreement with Mount Sinai Innovation Partners ("MSIP"), which
allows us advanced access to innovative commercial opportunities
and where we can build on the ongoing successes of Renalytix plc,
Verici Dx plc and Trellus Health plc.
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END
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