- Consumer goods group Venture Life said it had acquired women's health group BBI Healthcare for up to £36 million.

BBI Healthcare was being acquired from BBI Diagnostics, a company ultimately majority owned by Exponent Private Equity.

Crumlin, Wales-based BBIH produced a brand for the treatment of bacterial vaginosis and two brands of glucose supplements for diabetes and energy management.

BBIH had a manufacturing facility in Gnesta, Sweden and employed 21 people across the UK and Sweden.

'The board consider the acquisition of BBIH is one of high strategic value for Venture Life, the company said.

'BBIH joins the group as a growing and profitable business in its own right as well as presenting the opportunity for meaningful cost and revenue synergies to be realised.'

The total consideration of £36 million was made up of £35 million in cash on completion and deferred consideration of £1 million, payable on receipt of FDA approval for a new women's health product for the US market.

Story provided by