MEDICAL diagnostic firm Immunodiagnostic Systems has said it is still interested in picking up acquisitions as it continues its growth.
Ahead of its annual general meeting today, the South Tyneside firm announced its revenues to August 31 rose to £22.6m, compared to £18.4m in 2010. The company's revenues from its clinical and research testing system IDS-iSYS were up £4.4m, and revenue per instrument was up from £72,000 to £88,000.
In a statement issued before the AGM, the company said it would "continue to seek acquisitions where we believe we can either add value to our existing franchise in bone and mineral disease or where we can validly exploit the IDS-iSYS asset base".
IDS is among the global leaders in producing vitamin D testing kits, and recently added another 20,000 square feet of office and production space at its Tyneside base while pushing for further growth in markets such as the US and Europe. It employs around 100 of its 294-strong workforce in South Tyneside.
It plans to issue a more detailed trading statement in early October.