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An announcement from Novacyt ( (FR:ALNOV) ) is now available.
Novacyt has agreed to acquire Australian distributor Southern Cross Diagnostics for an initial AUD$8.5m in cash, gaining direct access to the fast-growing Australian clinical diagnostics market and key pathology customers. Southern Cross Diagnostics, a long-standing partner for Novacyt’s Yourgene Health assays, has shown rapid growth with FY25 revenues of about £6.7m and solid profitability, making the deal immediately earnings-accretive and removing roughly £2.0m of existing intercompany sales.
The acquisition underpins Novacyt’s strategy to accelerate revenue growth, move closer to breakeven and expand its product reach in Australia and the wider Asia-Pacific region, particularly for its cystic fibrosis and DPYD genotyping tests. Retaining founder-CEO Nick Thliveris and securing his trust’s commitment to invest up to AUD$0.8m in Novacyt shares aligns incentives, while a performance-based earnout of up to AUD$16.5m signals confidence in the business scaling within a market forecast to grow at an 8.5% CAGR through 2030.
More about Novacyt
Novacyt S.A. is an international molecular diagnostics group listed on Euronext Growth and AIM, focused on genomic medicine. The company develops, manufactures and commercialises molecular assays, PCR-based tests and instrumentation that provide end-to-end diagnostic workflows across human health, animal health and environmental sectors, with key offerings in reproductive health, precision medicine and infectious diseases.
See more data about ALNOV stock on TipRanks’ Stock Analysis page.