In a recent move, Lab21 had sold its blood bank screening unit to Trinity Biotech for USD7.5 billion. The said sale was backstopped by healthcare icon Professor Sir Christopher Evans OBE PhD's firm, the Excalibur Group.

Lab21 operates as a personalized medical diagnostic specialist that provides support to healthcare providers, specifically the pharmaceutical and biotechnology industries through the provision of technically advanced products as well as services. 

According to Trinity's CFO Kevin Tansley, "The acquisition of the Lab21 blood bank business represents a perfect strategic fit for Trinity. To date the Lab21 business has concentrated on the European blood bank screening market where though excellent product quality they have taken a dominant share in the larger markets such as the UK, France and Germany. Trinity will concentrate on leveraging this position to enter other markets whilst at the same time targeting the US market through strategic partner relationships. Although Trinity is in no way seeking acquisitions, the Lab21 opportunity was compelling."