Portfolio company Concepta secures partnership

RNS Number : 5150S

Mercia Technologies PLC

12 March 2019

 

RNS Reach

12 March 2019

Mercia Technologies PLC

("Mercia")

Portfolio company Concepta Plc secures partnership with Walgreens Boots Alliance

Mercia Technologies PLC (AIM: MERC), the national investment group focused on the identification, creation, funding and scaling of innovative technology businesses with high growth potential from the UK regions, is pleased to note that AIM listed portfolio company Concepta Plc ("Concepta") has today announced a commercial partnership with Walgreens Boots Alliance for the supply of its revolutionary women's fertility and hormone testing product, myLotus®; an important milestone for the company as it forms part of the myLotus® roll-out plan across Europe.

Mercia holds a 18.2% direct equity stake in Concepta, having worked with the company via its managed funds before making its first balance sheet investment in May 2016.

Peter Dines, Chief Operating Officer at Mercia and a non-executive director of Concepta, said: "Securing a partnership with such a leading retailer as Walgreens Boots Alliance is validation that Concepta has developed a product with significant commercial appeal. This new partnership will play a pivotal role in myLotus® being more widely available across the UK and overseas."

For further information, please contact:

Mercia Technologies PLC	[phone]
Mark Payton, Chief Executive Officer
Martin Glanfield, Chief Financial Officer
www.merciatech.co.uk
Canaccord Genuity Limited	[phone]
Simon Bridges, Emma Gabriel (NOMAD and Broker)
Buchanan	[phone]
Chris Lane, Vicky Hayns, Stephanie Watson, Catriona Flint
www.buchanan.uk.com

About Mercia Technologies PLC

Mercia is a national investment group focused on the funding and scaling of innovative technology businesses with high growth potential from the UK regions. The Group benefits from 19 university partnerships and offices across the Midlands, the North of England and Scotland providing it with access to high quality, regional deal flow. Mercia Technologies PLC is quoted on AIM with the epic "MERC".

Mercia's 'Complete Capital Solution' initially nurtures businesses via its third-party funds and then over time Mercia can provide further funding to the most promising companies, by deploying direct investment follow-on capital from its own balance sheet. Mercia has c.£500million of assets under management and, since its IPO in December 2014, has invested over £74million across its direct investment portfolio.

 

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