Duo-Med Group Belgium agreed to acquire Launch Diagnostics Holdings Limited from Avacta Group Plc (AIM:AVCT) for £12.9 million on March 7, 2025. A cash consideration of £12.9 million will be paid by Duo-Med Group Belgium. As part of consideration, £12.9 million is paid towards common equity of Launch Diagnostics Holdings Limited. Avacta Group Plc (AIM:AVCT) sold Launch Diagnostics Holdings Limited and its subsidiaries, its UK-based and largest diagnostics unit.

As at 30 June 2024 Launch Diagnostics had unaudited net assets of £13.65 million.

The transaction is subject to customary closing conditions.

The expected completion of the transaction is by the end of April 2025.

James Steel, Chris Golden of Peel Hunt LLP acted as financial advisors to Avacta Group Plc.