The new name for Medical Solutions is officially Source BioScience - a really catchy name!
Read the last postings under [MLS] and you'll see it was way-back in 2007.

Oh dear, Zzzz.

Er, anyone still there?
. . . . . This new Business is slightly different, having bought another company recently - but then failing companies always think they can "trade" out of problems. . . . .
The problem?

For me it's the regular holding of investor-meetings in Nottingham ( M1- half-way, turn right...keep your speed down; this county uses cameras for pension funding.).

Anyone living near Nottingham - and going to the AGM - can you tell us how things are.....did they show any product?
//
No? - well, no change then.

Final Results

Financial highlights

* Revenue increased by 8% to GBP16.4 million (2011: GBP15.2 million)

* Operating profit more than doubled to GBP1.2 million (2011: GBP0.5 million
adjusted*)

* Profit before tax of GBP1.0 million (2011: GBP0.4 million adjusted*)

* EBITDA increased by 43% to GBP2.7 million (2011: GBP1.9 million adjusted*)

* Profit after tax of GBP3.5 million (2011: loss of GBP2.8 million)

* EPS 1.70 pence (2011: loss per share 1.37 pence)

* Cash generated from operating activities of GBP3.3 million (2011: GBP0.6
million)

* Cash balance of GBP2.2 million (2011: GBP1.1 million) and net debt of GBP0.9
million (2011: GBP2.3 million)

Offer Update

SOURCE BIOSCIENCE PLC ("SOURCE BIOSCIENCE" OR THE "COMPANY")
RECOMMENDED CASH OFFER FOR VINDON HEALTHCARE PLC ("VINDON")

OFFER DECLARED UNCONDITIONAL IN ALL RESPECTS



Source BioScience plc (LSE: SBS) the international diagnostics and genetic analysis services business, announces that its circa GBP 12.2 million recommended cash offer for Vindon Healthcare plc is now declared unconditional in all respects.

Highlights

· On 13 September 2013, Source BioScience announced that it had received valid acceptances in respect of more than 90 per cent. of the entire issued share capital of Vindon and the Offer had become unconditional as to acceptances
· The acquisition is part funded by the Firm Placing which raised GBP 9.5 million (gross) from existing and new institutional investors and a new banking facility
· Following the admission to trading of the Firm Placing Shares at 8.00 a.m. on 13 September 2013 and the conclusion of other completion matters, the Offer is now unconditional in all respects
· The Offer will remain open for acceptances until further notice. At least 14 days' notice will be given before Source BioScience closes the Offer to further acceptances. In accordance with the Companies Act, compulsory acquisition measures may be used to acquire Vindon Shares not assented to the Offer
· Vindon Shareholders who have not yet accepted the Offer are reminded to do so as soon as possible. Details of the procedure for doing so are set forth in the Offer Document (including, in the case of certificated Vindon Shares, the Form of Acceptance) sent to Vindon Shareholders on 7 August 2013
· The residual net proceeds of the Firm Placing (after partial funding of the consideration for the Offer and related expenses) will be used, together with the circa GBP 0.8 net proceeds of the recently completed million Open Offer, to fund additional organic and selected acquisitive growth initiatives for the enlarged Source BioScience Group

The Offer will remain open for acceptances until further notice. At least 14 days' notice will be given before Source BioScience closes the Offer to further acceptances. Vindon Shareholders who have not yet accepted the Offer are reminded to do so as soon as possible. Details of the procedure for doing so are set forth in the Offer Document (including, in the case of certificated Vindon Shares, the Form of Acceptance) sent to Vindon Shareholders on 7 August 2013.

Source Bioscience - was Medical Solutions....DYOR.
This has been a sorry-state investment . . . so at last the fools (like me!), that believed Execs words have their hopes finalised.
Well, apart from anyone that bought recently, this has been dire - and the Sept 2016 OFFER at least provides a decent EXIT.....at a paper loss....but then, the money was lost to any better "Good Use" from early days - as they tried to maintain interest, etc.


The lack of Posts since Sept. 2013 indicates how little excitement there has been in this dire business.