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Omega Diagnostics Group PLC - Alva, Scotland-based diagnostics company - Says it has received an undisclosed payment from Abingdon Health PLC in relation to the manufacture and supply of AbC-19 Rapid tests, a Covid-19 lateral flow antibody test.
Back in March, Abingdon said it had not been paid invoices totalling £8.5 million by the UK Department for Health & Social Care for lateral flow devices delivered to the DHSC in January 2021 and for components purchased on behalf of the DHSC in 2020. In June, the company said it had reached a £8.9 million settlement agreement with the DHSC.
On Thursday, Abingdon said it had received a £6.3 million cash payment the DHSC as part of the settlement agreement. The outstanding payment to Omega was made after this settlement payment was received.
Current Omega Diagnostics stock price: 3.50 pence each, up 7.7% on Monday
12-month change: down 93%
Current Abingdon Health stock price: 9.86p each, down 1.4% on Monday
12-month change: down 76%
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