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United Kingdom : Mercia invests GBP400,000 in developer of diagnostic devices for women's health.

Investment firm Mercia Technologies PLC has announced it will make its first direct investment sourced from the portfolio of Enterprise Ventures Group, which Mercia bought in March.

Through a convertible loan note, Mercia invested an initial GBP400,000, in Concepta Diagnostics Ltd, a developer of diagnostic devices for women's health.

Mercia said the York-based firm has developed several market-ready products, and has won product registration recently in China, a key target market.

Peter Dines, investment director and head of life sciences at Mercia, said,"The investment into Concepta reinforces the strategic rationale behind Mercia's acquisition of EVG, as a high-quality portfolio company within its portfolio. One of the key drivers behind the acquisition of EVG was to enable Mercia to expand the pipeline of opportunities from which it can make direct investments and Concepta is a perfect example of this strategy in action."

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Publication:Mena Report
Date:May 11, 2016
Words:156
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