Abingdon Health plc
("Abingdon Health" or "the Company")
Launch of OEM self-tests in Boots
Boots to sell its first own brand self-tests in stores and online across the UK provided by Abingdon Health and Crest Medical partnership.
York, U.K. 20th March 2024: Abingdon Health plc (AIM: ABDX), a leading international lateral flow Contract Development and Manufacturing Organisation (CDMO), announces the launch of Boots' own-brand, rapid self-tests across the UK and online in partnership with Crest Medical.
In a significant step forward in strengthening its position in the consumer lateral flow self-test market, Abingdon Health is launching the first two products - Iron and Vitamin D deficiency self-tests - in this Boots own-brand range, with the self-tests being made available in stores and online at Boots.com from Spring 2024. These products will sit within the Boots family of branded products which will increase consumer confidence in the continued adoption of at-home testing.
As a CRO/CDMO of lateral flow tests, Abingdon Health is uniquely positioned to offer Original Equipment Manufacturer (OEM) self-tests under its own brand families to partners throughout the UK and Europe as a value-add Private Label Supplier (PLS). The global lateral flow assay market size is expected to reach USD $23 billion by 20271 and with consumer adoption of self-tests on the rise (US $7.89 billion in 2023)2, this has coincided with retailers looking to offer these products under their own brands to improve their consumer offering.
Chris Yates, CEO of Abingdon Health plc, commented: "We are delighted to announce the launch of the Boots own-brand Iron and Vitamin D deficiency self-tests in conjunction with our partner Crest Medical. As lateral flow experts we're proud to offer a comprehensive private label service to retailers covering a broad range of self-tests, including innovative exclusive products from Abingdon's CDMO customers. We take immense pride in the quality of our service and ensure a seamless supply of innovative lateral flow self-tests to ensure our partners requirements are met."
Matthew Courtney, CEO of Crest Medical Ltd, commented: "Diagnostic tests are another great addition to the Crest Medical portfolio as we look to expand further and deepen our partnership with Boots. Abingdon Health are at the forefront of this expansion and we are thrilled to be partnering with a company who are leaders in lateral flow diagnostics."
Sources:
1. 1. Lateral Flow Assays Market worth $22.6 billion | MarketsandMarkets | ABNewswire
2. Self-testing Market Share, Growth, Demand, Forecast to 2033 (futuremarketinsights.com)
Enquiries
| Abingdon Health plc | |
| Chris Yates, Chief Executive Officer | |
| Chris Hand, Non-Executive Chairman |
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| Singer Capital Markets (Sole Broker and Nominated Adviser) | Tel: +44 (0)20 7496 3000 |
| Peter Steel, Alex Bond, Jalini Kalaravy (Corporate Finance) |
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| Tom Salvesen (Corporate Broking) |
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About Abingdon Health plc
Abingdon Health is a leading lateral flow contract development and manufacturing organisation ("CDMO") offering its services to an international customer base across industry sectors that include clinical, animal health, plant health, and environmental testing. Abingdon Health has the internal capabilities to take projects from initial concept through to routine and large-scale manufacturing; from "idea to commercial success."
The Company's CDMO division offers product development, regulatory support, technology transfer and manufacturing services for customers looking to develop new assays or transfer existing laboratory-based assays to a lateral flow format. Abingdon Health aims to support the increase in need for rapid results across many industries and locations and produces lateral flow tests in areas such as infectious disease, clinical testing including companion diagnostics, animal health and environmental testing. Faster access to results allows for rapid decision making, targeted intervention and can support better outcomes.
Abingdon Health's Abingdon Simply Test range of self-tests is an ecommerce platform that offers a range of self-tests to empowers consumers to manage their own health and wellbeing. The Abingdon Simply Test ecommerce site offers consumers a range of information to support them in making informed decisions on the tests available. In addition, the site provides Abingdon's contract services customers with a potential route to market for self-tests. The Abingdon Simply Test range is also sold through international distributors and through other channels in the UK and Ireland such as pharmacy chains.
Founded in 2008, Abingdon Health is headquartered in York, England.
For more information visit: www.abingdonhealth.com
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