Jobs saved in medical company rescue deal

More than 30 jobs have been saved after a medical testing firm was rescued from administration.

AccuLabs Diagnostics UK has been bought by its management team.

Officials say the move has secured 32 posts following a “challenging trading period” and leaves the business – based at Wynyard, near Stockton-on-Tees – “excited about the opportunities ahead”.

They add the deal will allow the firm to roll out a contract pipeline that includes wellness testing services and weight-loss medication projects.

Debbie Banks, chief executive of the 2010-founded company, said: “We’re pleased to have secured the future of the business and to be moving forward with the support of our experienced team.

“It’s very much business as usual for customers and partners, and we’re excited about the opportunities ahead.”

The deal was supported by financial advisory and restructuring group BTG.

Andrew Little, who was appointed joint administrator alongside Gillian Sayburn, added: “We are very pleased to have secured a sale that protects jobs and allows AccuLabs to continue operating under the existing management team.

“The level of interest received during the marketing process demonstrates the underlying strength of the business.”

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