Revenues fall 6% at diagnostics firm Diaceutics

Belfast based company says 2020 was a ‘challenging’ year

Diaceutics works on improving the efficiency of patient testing.

Diaceutics works on improving the efficiency of patient testing.

 

Revenues fell by 6 per cent at Irish data analytics company Diaceutics in 2020, on the back of a “challenging” year due to the Covid-19 pandemic.

The Belfast-based data analytics and end-to-end services provider, which aims to improve patient treatment outcomes, said that revenues declined to £12.7 million (€14.8 million) in the year to December 31st 2020. The group reported a loss of £0.7 million, down from a profit of £0.5 million the previous year, with earnings (EBITDA) of £0.2 million, down from £1 million in 2019. The group added seven customers during the year, and now services 39 clients.

Diaceutics chief executive Peter Keeling said the group has seen an “increased level of engagement” from clients in the past quarter, as he noted an uptick in US pharma commercial activity at end 2020.

“The group is well placed to respond to these opportunities, and feedback from our clients has been positive. That said, we recognise that we are not immune to ongoing challenges within the global market, particularly as we emerge from the COVID-19 pandemic,” he said.

Last October Diaceutics launched its € 26 million DXRX precision medicine platform, which it hopes will improve the efficiency of patient testing for a range of diseases.