2nd May 2018 13:31
LONDON (Alliance News) - Medical technology firm Omega Diagnostics Group PLC said Wednesday it had closed its German subsidiary after failing to find a buyer.
Omega decided to close its Omega Diagnostics GmbH subsidiary after earlier in April it said it had been unable to find a buyer.
Omega has therefore decided to pursue insolvency proceedings in Germany "as soon as possible". The company does not expected the costs of the closure to be any more than GBP450,000 and could be "significantly less."
For the year ended March, Omega Diagnostics GmbH generated a EUR400,000 loss before interest, taxes, depreciation and amortisation on revenue of EUR3.2 million.
Shares in Omega were 3.9% lower at 12.50 pence on Wednesday.
Related Shares:
ODX.L