EKF Diagnostics acquires technology assets from Sweden's Beep Insights

(Alliance News) - EKF Diagnostics Holdings PLC on Monday said it has inked an agreement to acquire technology assets from Kiruna, Sweden-based Beep Insights AB as it looks to strengthen its Sports Performance products range.

The Cardiff, Wales-based diagnostics and biotechnology company said the asset purchase agreement is in relation to the company's Beep Insights Technology. This, said EKF, is an application that combines data from sports performance wearables connected through Bluetooth, with real-time glucose and lactate tracking.

As such, said EKF, it is able to provide personalised metrics to improve sports performance training. EKF said the acquisition will support its Lactate Scout Sport product, which it noted is compatible with the Beep Insights application

EKF added that Beep Insights Chief Executive Peter Alex is set to join the EKF team following the asset purchase, looking into the development of AI within performance training.

The financial terms of the acquisition were not disclosed.

Shares in EKF were down 2.6% at 23.58 pence on Monday afternoon in London.

EKF CEO Gavin Jones said: "Whilst working with Beep Insights we have been highly impressed with how well their data handling application seamlessly connects with our handheld Lactate Scout Sport device, enabling, fast and accurate lactate threshold testing for sports performance athletes at all levels.

"The acquisition of this technology is an exciting step forward for EKF's Sports Performance division as we look to enable athletes of all abilities access to data to drive improved training outcomes."

By Christopher Ward, Alliance News reporter

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