NVM completes £10 million investment into home testing business YorkTest

NVM Private Equity has completed a £10 million investment into Yorkshire-based YorkTest Laboratories, which specialises in the provision of home-to-laboratory tests.
Greg Wright
By Greg Wright
Published 26th Jul 2022, 07:03 BST
Updated 26th Jul 2022, 07:05 BST

The investment from NVM will be used to enable the firm to expand its product range and increase its market share. The company plans to launch 10 new home health tests this financial year, invest in more laboratory equipment, and continue its expansion into new markets, including the US, which currently represents a very small proportion of the overall sales.

As part of the transaction, Richard Millman will join the board as Non-Executive Chair.

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Mauro Biagioni said “The management team has built a robust business which is extremely well regarded in the home testing market."Mauro Biagioni said “The management team has built a robust business which is extremely well regarded in the home testing market."
Mauro Biagioni said “The management team has built a robust business which is extremely well regarded in the home testing market."
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A spokesman said: “Richard is the former Managing Director of a PC World group business, part of the Dixon’s Retail Group and the former CEO of Total Fitness, the PE (private equity) backed gym chain.

“He currently also Chairs Protein Works, a global direct to consumer sports nutrition business and Vivify Venues, a tech enabled sports and leisure venue marketplace.”

Mr Millman said “It’s an exciting time for the sector, as people take more ownership of their own health, particularly following the challenges of the pandemic. The business is already seeing a shift in consumer behaviour and the rise in online sales across its portfolio of home health tests. With significant investment in cloud-based technology, laboratory expertise and strong scientific credentials at its core, YorkTest is well positioned to achieve significant growth over the coming years.”

CEO of YorkTest, Richard Dawson said: “We are delighted to welcome Richard and NVM as investors in YorkTest.”

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He added: “YorkTest is well positioned to replicate our success in the UK food intolerance and allergy testing market in the USA, having recently launched our new US ecommerce platform.

“At the same time, we remain the UK market leaders in food intolerance and allergy testing, while investing to expand our wider range of home-to-laboratory blood tests in the UK. We look forward to working with both Richard and NVM to implement our ambitious growth plans.”

The transaction has been led by Andy Leach, Mauro Biagioni and Oliver Wildig.

Mr Biagioni said “The management team has built a robust business which is extremely well regarded in the home testing market

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