Cozart purchases Sweden's HL Scandinavia

Oxfordshire, UK-based medical-diagnostics company Cozart says that it has purchased Sweden's HL Scandinavia AB, a specialist in drug abuse urine testing, for 13.23 million Swedish kronor ($1.9 million), primarily to allow it greater access to the local drug testing market. Cozart said that the deal, which follows its acquisition of Medib Scandinavian in June last year, would position it as Sweden's leading drug tester, with a client base of 600 hundred, adding that this would provide an appropriate platform for the launch of its new on-site detection system, Cozart DDS. The UK firm went on to say that it would finance the deal by a placement of ordinary shares.