Sweden-based ADDvise Group subsidiary MRC Systems has received an order approximately worth US $3m from Leader Life Sciences, part of Dubai-based Leader Healthcare Group.
The order involves the design, supply, installation, and commissioning of a cleanroom and associated accessories for a new biotechnology research facility based in Abu Dhabi.
Delivery of the order is scheduled for Q2 and Q3 2024.
Leader Life Sciences is a specialist company aiming to introduce ground-breaking scientific technologies and solutions in the fields of biomedical sciences, biotechnology, drug discovery, environmental sciences, and precision medicine.
ADDvise Group is a supplier of equipment to healthcare and research facilities. The group consists of two business areas, lab and healthcare. Sales are global. The group has a clear acquisition strategy with the aim of raising shareholder value and expand the business - both geographically and product wise.
In November 2020, Addvise Group acquired 100% of the shares of Dubai-based MRC Systems.The transaction had been agreed at a total purchase price of approximately $8m and included an unleveraged production property with an estimated value of $1.30 m.
The transaction was subject to due diligence and the parties had to agree to enter into a share transfer agreement, which was planned planned during Q1 2021.