Following the administration of Circular 1 Health, a Covid-19 testing contractor with debts exceeding £3.5m, Landwood Group, the Manchester-based asset experts, were entrusted by joint administrator, Gary Lee of Begbies Traynor, to oversee a series of auctions of the firm’s assets.
At its pinnacle, Circular 1 Health earned millions. They employed 300 staff and played a crucial role in delivering essential screening services during the pandemic. In a strategic move to address Circular 1 Health’s outstanding debts, Landwood Group has facilitated three auctions of a diverse range of specialist medical equipment.
The three auction sales, conducted on behalf of the administrators, involve over 1500 lots of high-quality, unique equipment, including precision genetic code readers and DNA identifiers targeting specific genes and diseases.
Jeff Wignall, Landwood Group director commented: “In any administration, our sole focus is to extract the maximum value from assets.
“As experts in asset management, we understand the importance of connecting the right global buyers with specialist equipment to maximise returns. The sales we have achieved from the auctions will play an important role in the recovery process.”
The medical equipment sold included:
- Thermo Fisher ion torrent GeneStudio S5 Prime Semiconductor Sequencer
- Thermo Fisher ion torrent Chef System Instrument
- Thermo Fisher ion torrent Genexus Integrated Sequencer
- Tecan FREEDOM EVO 2 150 base Automatic Filling Machine