Exclusive: LDC-backed RDi completes double acquisition

Exclusive: LDC-backed RDi completes double acquisition

LDC-backed RDi completes double acquisition​

LDC-backed RDi, an automated, data-led healthcare fulfilment specialist, has acquired two companies: MedDX, which deals with diagnostic sample transport, and Shuttlepac, which handles biological sample packaging, this publication can reveal.

The acquisitions have broadened RDi’s portfolio of healthcare kitting and component capabilities.

RDi, based in Croydon and founded in 2004, provides data-driven services for customised medical kits, serving healthcare organisations and home testing programs. In 2023, RDi experienced 15% quarterly growth and now plans to enter the US market, the world’s largest for home-testing kits, by establishing manufacturing facilities within the next 12-18 months to meet pharmaceutical companies’ needs.

Mid-market private equity investment firm LDC invested in RDi two years ago. The company has since grown from 82 to 130 employees, with revenues increasing by about 40% to £25 million. Healthcare now accounts for over 70% of the business, up from 22%.

Chris Tagg, chief strategy officer at RDi, commented: “LDC backed our business in 2021, and supported us when it came to the acquisitions of MedDX and Shuttlepac. Looking ahead, we are really excited about the opportunity in the US, where a number of major pharmaceutical companies are interested in using our automation capability.”

Christian Bruning, partner at LDC, added: “RDi has a unique proposition and is well positioned to take advantage of the phenomenal interest in healthcare screening, testing and monitoring, both in the US and globally. RDi has made its name with screening kits, including bowel cancer detection kits, since 2008, and is now successfully expanding this to other types of health screening as early-detection continues to rise up the agenda of individuals, companies and governments.

“The business is also highly focused on sustainability, and on reducing the use of plastics by minimising the size of its kits, components and packaging. We are proud to support RDi’s ambitious management team in their impressive growth story.”

LDC is actively growing its healthcare investments though a pipeline of acquisitions, HealthInvestor understands. RDi’s recent acquisitions follow the same path, just like PAM Group’s deal with Corporate Health Ireland in August.

Financial details of the deal remain undisclosed.

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