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March 29, 2022

BGL Advises SourceBio International plc on Acquisition of LDPath Limited

Brown Gibbons Lang & Company (BGL) is pleased to announce that its client,  SourceBio International (SourceBio), a leading international provider of integrated state-of-the-art laboratory services and products, has completed its strategic acquisition of LDPath Limited (LDP), a London-based leader in Digital Pathology testing services. BGL’s Healthcare & Life Sciences investment banking team initiated the transaction and acted as the exclusive financial advisor to SourceBio.

SourceBio provides ISO15189 certified and United Kingdom Accreditation Service (UKAS) accredited diagnostic testing and cellular pathology services to the U.K.’s National Health Service (NHS) and other healthcare providers. LDP has proprietary intellectual property that was created with a focus on artificial intelligence in order to pioneer the creation of a Digital Pathology platform. Its technology-enabled offering has been adopted within both private healthcare providers and NHS trusts and is highly complementary to SourceBio’s strategic direction and digital approach.

The acquisition creates the largest and most technically advanced private provider of cellular and digital pathology services in the UK. The combined SourceBio-LDPath pathology workflow will provide access to the largest second opinion network with multidisciplinary teams (MDT)s, leading to faster diagnosis and helping to clear the backlog of elective surgeries that has emerged as a result of the pandemic. Additionally, it will streamline the reporting of more routine pathology cases to ensure the highest quality of reporting and reduce carbon emissions as a result of lower transportation requirements.