RUA Life Sciences PLC on Monday said that it has bought the entirety of Analytic Biosurgical Solutions SAS, a manufacturer of a number of long-term implantable devices.

RUA Life Sciences is the Glasgow-based holding company of multiple medical device businesses.

The firm has bought Analytic Biosurgical Solutions for €80,000 from the French liquidator of IPSA SAS, its former parent company.

As well as manufacturing devices, Analytical Biosurgical Solutions - or Abiss - is also a subcontract manufacturer of medical devices for third parties.

For the year ended December 31, Abiss reported a pretax loss of €352,000, and revenue of €2.2 million, up 36% from €1.6 million the year previously.

‘There are many similarities between Abiss and RUA Contract Manufacture, particularly with a shared customer. Abiss has been pursuing contract manufacture opportunities to further grow its business and the combined strengths of RUA and Abiss should only increase the potential. We very much look forward to working with the Abiss team and integrating into the RUA group,’ said Chief Executive Officer Bill Brown.

Shares in RUA Life Sciences were trading 7.2% higher at 11.42 pence each in London on Monday afternoon.

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