Diagnostics business EKF has grown rapidly through acquisitions, hence the fact it more than trebled revenues in 2011, surpassing market expectations. And now the opportunity to consolidate its business bring through new products and develop its recurring revenue streams leaves it well positioned for 2012 and beyond.
The acquisition of Stanbio during 2011 helped to contribute £8.4m of revenue, as total group revenues surged from £6.5m to £21.7m. Operating losses were flat at £2m after significant investment in the business. EKF's suite of products now encompasses diagnostic and testing equipment for haemoglobin and glucose aimed at the growing point of care diagnostics market in both the developed and developing world. Its products also require consumables, which creates recurring revenues.
