CSRT.L Share News (CSRT)

Drug inhaler firm Consort Medical has formed a strategic alliance with Atlas Genetics, a UK-based healthcare technology company with a point of care (POC) diagnostics platform.Consort's Bespak division will undertake design for manufacture work to prepare the disposable test cards that are a core component of the Atlas system and has also been awarded long term manufacturing rights for the card.Consort is taking a 19.5% stake in Atlas at a cost of £1.1m, and has agreed to invest further £0.4m in Atlas by the end of March 2012. Under the terms of the deal Atlas will grant Consort a non-executive seat on the board."Atlas's technology has the potential to revolutionise the testing and treatment of infectious diseases and we believe that the combination of our manufacturing scale and expertise to their technological strength will offer a compelling solution," said Consort's chief executive officer, Jon Glenn.