Jobs saved after buyer found for Dingwall diabetes outfit
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Inside Biometrics, which specialised in health-monitoring technology for people with diabetes, earlier this year won the innovation category at the Scottish Life Sciences Awards for its KEYA device that measures blood glucose and ketone levels.
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However, administrator Chris Laughton, corporate advisory partner at accountant Mercer & Hole, was called in after the business ran out of cash and risked having to close its doors, threatening the jobs of its 35 staff.
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Hide AdInside Biometrics, which supplies its health tracking devices to the Sky cycling team, has now been acquired by a division of GlucoRx, a supplier of diabetes products and glucose-testing solutions.
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Laughton, who highlighted the work of Highlands & Islands Enterprise in sealing the deal and maintaining skilled research and development work in the region, said: “Inside Biometrics had succeeded in delivering a significant new product to market.
“I am delighted as administrator to have been able to sell the business and assets, generating value for creditors while preserving employment.”