Concepta PLC (LON:CPT) shares jumped in mid-morning trading Tuesday after it inked an agreement to supply its myLotus fertility testing kit to high street chemist Boots.
The healthcare firm said the agreement with Walgreens Boots Alliance Inc (NASDAQ:WBA), which owns both Boots and US pharmacy chain Walgreens, would allow it to supply Boots stores in the UK as well as other WBA partners across EU markets that use the CE-Mark, a quality standard for the European Economic Area that myLotus achieved last October.
READ: Concepta hails successful UK launch of myLotus fertility testing product
myLotus is a self-testing kit that allows women to measure their fertility levels and determine when they are most likely to become pregnant naturally, offering an alternative to expensive treatments like in-vitro fertilisation (IVF).
Matthew Walls, chairman of Concepta, said the firm was “delighted to work with such a respected British high-street brand” and was now preparing its roll-out plans for the EU market.
Investor hails deal as “validation” of myLotus appeal
In a separate announcement, Mercia Technologies PLC (LON:MERC), an investment group that owns an 18.2% stake in Concepta, hailed the deal as “validation” that the myLotus product had “significant commercial appeal”.
“This new partnership will play a pivotal role in myLotus being more widely available across the UK and overseas", said Peter Dines, Mercia’s chief operating officer who is also a non-executive director of Concepta.
Shares were up 4% at 3.95p.
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