York firm Abingdon Health acquires regulatory consultancy IVDeology

The acquisition will be satisfied by the issue of five million ordinary shares of 0.0025 pence each in Abingdon Health plc to the owners of IVDeology, at an issue price of 10 pence per Ordinary Share, equating to £0.5m

IVDeology is a UK-based leading provider of regulatory consultancy support to an international customer base in the in vitro diagnostics sector.

Chris Yates, CEO of Abingdon Health, said: "We're delighted to welcome Stuart, Nancy and the rest of the IVDeology team to the Abingdon Health group. The acquisition of IVDeology is in line with Abingdon's strategy of providing our customers with all the pieces of the jigsaw required to bring products from idea to commercial success.

“The IVDeology team will strengthen Abingdon's existing knowledge leadership and regulatory expertise. We look forward to working with the IVDeology team and supporting existing and new customers in navigating a regulatory environment going through a period of significant change."

Stuart Angell, managing director of IVDeology, said: "Nancy, the rest of the IVDeology team and I are excited to be joining the Abingdon Health Group. The in vitro diagnostics sector is undergoing a significant period of regulatory change in the UK, EU and internationally. By combining our collective skills, knowledge, and expertise, we can support our customers and the wider IVD industry with the comprehensive service that this opportunity provides.”

IVDeology provides a range of regulatory services including those in support of the In Vitro Medical Devices Regulation for the EU market, UK-Conformity Assessed-marking for the UK market, and FDA support for the US market.

In its financial year ending 31 January 2024, IVDeology generated combined turnover across its three entities of £392,000, resulting in a combined loss before tax of £30,000. The company recorded net assets of £43,000 as at 31 January 2024.