12th Mar 2019 09:51
LONDON (Alliance News) - Healthcare company Concepta PLC on Tuesday said it has agreed to supply its myLotus fertility and hormone testing product to Walgreen Boots Alliance Inc.
Shares in Concepta were up 4.5% at 3.97 pence on Tuesday morning.
The supply agreement is Concepta's first commercial partnership and is part of the company's EU roll-out plans, Concepta having recently received CE-Mark certification for sales within the European Economic Area.
The deal also allows Concepta to extend its UK relationship with Boots the Chemist to other Walgreens Boots Alliance partners within CE-Mark territories.
The myLotus product is intended to aid in conception, by allowing users to test their hormone levels at home to maximise their chances at pregnancy. The product is integrated into a free app that lets users record and track their hormone levels.
Concepta Chair Matthew Walls said: "We are delighted to work with such a respected British high-street brand and retailer and look forward to supplying myLotus to Boots the Chemist to help improve the chances of a natural pregnancy. We are now preparing our EU market roll-out plans and will update the market in due course."
The Concepta announcement was noted by technology investor Mercia Technologies PLC, which holds an 18% direct equity stake in Concepta and called the agreement "an important milestone".
Peter Dines, who is chief operating officer at Mercia and a non-executive director at 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."
Shares in Mercia were up 0.3% at 38.20p on Tuesday.
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Mercia AssetCPT.L