Concepta has designed and developed a proprietary platform for at-home and point-of-care testing that comprises a hand-held meter, test sticks and an app. Its technology allows for both qualitative and quantitative results. This opens up a wide range of opportunities in the management of individual health parameters and the emerging mobile health market.
The initial products draw on the professional expertise of the Concepta staff and management, and addresses a strong universal need in a highly motivated target audience.
Concepta originally received investment via the Group's third party funds and early stage capital through Enterprise Ventures, which was acquired by the Group in March 2016. Mercia invested an initial £400,000, via a convertible loan on 9 May 2016.
The enlarged ordinary share capital of Concepta, comprising 109,160,573 new ordinary shares, was admitted to trading on AIM by way of a reverse takeover of Frontier Resources International plc. Mercia invested £1.0million as part of the placing and held 18.2% of the total share capital following the transaction. To read the full stock exchange announcement, click here.
Concepta PLC, formerly named Concepta Diagnostics Ltd, was admitted to AIM at 8.00am on 26 July 2016.