15th Oct 2024 14:18
(Alliance News) - Abingdon Health PLC on Tuesday announced it has signed a lease to open a commercial office and laboratory in Wisconsin, US.
The York, England-based lateral flow contract research and contract development & manufacturing organisation said the US footprint will allow it to provide additional support for its broadening international customer base, as well as allowing it to be closer to large customers in North America.
It reported around 30% of its revenue last year came from the US.
The new wholly-owned subsidiary, Abingdon Health USA Inc, will begin operations in October, and is expected to become fully operational in early 2025.
To support the company's growth, Non-Executive Director Chris Hand was appointed chair on October 8, to lead Abingdon's operations whilst Chief Executive Officer Chris Yates leads the company's USA expansion and global commercial activities in the UK, Europe, US and other territories.
Abingdon is in the process of recruiting a chief financial officer.
CEO Chris Yates said: "I'm looking forward to driving Abingdon's worldwide commercial activities and, in particular, expanding our customer base in the US, the largest medtech market globally. Our laboratory site in the US will mean we can offer US customers the opportunity to buy their services in the US; this is a first step for Abingdon to provide a broader [contract development & manufacturing organisation] proposition from within the US market."
Shares in Abingdon Health were up 1.5% at 8.88 pence each in London on Tuesday afternoon.
By Emily Parsons, Alliance News reporter
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