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RUA Life Sciences (LSE:RUA) has completed the acquisition of implantable devices manufacturer Analytic Biosurgical Solutions for €80,000. The purchase was made from the French liquidator of IPSA SAS, the former parent company of Analytic Biosurgical Solutions (Abiss).
The AIM-listed company confirmed that the acquisition would be funded using its existing cash resources and will be paid in full upon completion. RUA emphasized that this acquisition aligns with its strategy to enhance and grow its contract manufacturing business. The addition of Abiss complements RUA’s current operations, allowing the company to leverage its strong customer relationships and reputation for delivering high-quality products.
RUA highlighted that this acquisition is expected to play a pivotal role in achieving its medium-term growth objectives. Alongside a previously announced project in July, which the company aims to convert into a long-term supply contract, the acquisition strengthens RUA’s position in the market. The company believes this development positions it well to accelerate its growth trajectory and broaden its reach within the medical devices industry.
The acquisition price was determined through an auction process. RUA noted that while other interested parties were involved in the bidding, its unique position as a buyer with an established relationship with a major customer gave it a competitive advantage.
As of 1040 BST, shares in RUA Life Sciences saw a positive reaction to the news, rising 5.63% to 11.25p.
This acquisition is viewed as a strategic step in RUA’s efforts to expand its capabilities in the manufacturing and supply of implantable medical devices, further strengthening its position in the industry. The move is expected to provide significant opportunities for future growth and development.
