Guangzhou Wondfo Biotech Co., Ltd announced on Dec. 15 that its wholly-owned subsidiary Wondfo Hongkong Co., Ltd has agreed to buy 71, 845 shares (￡199.74 per share) from Atlas Genetics (AG). Wondfo Hongkong Co., Ltd now owns 13.63% shares of Atlas Genetics (AG), which is valued at￡14.35 million (12.5 billion yuan).
Atlas Genetics is an innovative UK-based in vitro diagnostics company focusing on decentralized, near-patient and point-of -care (POC) testing. AG has developed the ultra-rapid io® diagnostic platform, a platform system consisting of a small, low cost instrument (io® Reader) and test-specific, disposable cartridges (io® Cartridge) providing an accurate, actionable test result in around 30 minutes.
With a global market value at USD 1.2 billion in 2015, the POC Molecular Diagnostics market has grown rapidly in Europe and America in recent years. By incorporating Nucleic Acid Extraction, Nucleic Acid Amplification, and Nucleic Acid Detection into one, Point of Care (POC) Molecular Diagnostics gains tremendous growth opportunities. It is also expected to have higher penetration in the hierarchical medical system in China in the near future.
Molecular Diagnostics is the quickest growing section in IVD field. From long-term perspectives, Wondfo is able to enter the Molecular Diagnostic market promptly and enhance its competitiveness through close cooperation with Atlas Genetics (AG).