LONDON (Alliance News) - Investment company Mercia Technologies PLC on Monday agreed to make its first direct investment sourced from the portfolio of Enterprise Ventures Group, which Mercia acquired in March.
Mercia has invested an initial GBP400,000, via a convertible loan note, in Concepta Diagnostics Ltd, which develops diagnostic devices for women's health. The York-based company has developed a range of market-ready products, Mercia said, and has secured product registration recently in China, a key target market.
"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," said Peter Dines, investment director and head of life sciences at Mercia.
Mercia shares were untraded at 43.00 pence early Monday.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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Mercia Asset (MERC)