Randox tops the charts in Belfast Telegraph Top 100 Companies

Randox is the largest blood-sciences healthcare diagnostics company from the UK and Ireland. Established in 1982 by managing director Dr Peter FitzGerald, Randox manufactures more than four billion tests per year and has a global sales and distribution network supplying product to 145 countries. Randox estimates more than 400 million people, around 5% of the world’s population, receive a diagnosis involving Randox products each year. Key facilities are located at multiple sites within Northern Ireland, in Co Donegal, in West Virginia in the United States and in Bengaluru, India.

As a privately-owned company Randox invests heavily in research and development, committing up to 25% of turnover for the development of new diagnostic products. Recent testing developments include: Type 1 Diabetes Genetic Risk Score; an advanced PSA test to improve the predictive potential of PSA alone for prostate cancer; predictive bladder cancer testing panels; risk assessment for post operative acute kidney injury and chronic kidney disease; and wide-ranging quality control and external quality assurance capabilities to ensure the accuracy and reliability of laboratory results.

Randox’s innovative approach to R&D has allowed the development of allied capabilities outside the immediate world of human healthcare, including leading testing capabilities in the veterinary field, for toxicology and for the detection of harmful drug residues and pathogens in food.

Research and development programmes are not limited to the development of tests, but also includes the advanced analyser systems to process samples efficiently. This requires integral, advanced capabilities in electrical and mechanical engineering, optics, robotics and software engineering.

Over £350m of investment has supported the development of a unique testing system to allow multiple tests to be run simultaneously on a single sample – the Randox Biochip. This 9mm x 9mm platform, which allows up to 49 tests to be run simultaneously, greatly increases the diagnostic power available to clinicians to enable earlier, more accurate diagnosis and improved patient outcomes. Initially focused on proteomics, Randox has also greatly increased its genetic testing capabilities to increase predictive capabilities.

In order to support the model of diagnostically-led healthcare, Randox has developed the Randox Health brand, to provide public access to comprehensive testing. The aim is to empower the consumer and to enable a preventative approach to healthcare – rather than rely upon the treatment of illness. Well over 20 clinics are now available across the UK and Ireland, including in partnership within John Lewis stores.

At the outset of the Covid-19 pandemic Randox was ideally placed to support the UK’s requirement for a national Covid-19 testing programme. By mid-February 2020 Randox were amongst the global frontrunners in developing a Covid-19 test and had developed home sample collection and reporting capabilities. The company was engaged by Government from mid-March 2020 to support the UK’s national testing programme – at that time the complete NHS testing capability for Covid-19 was reported as 2,400 tests per day.

Rising to meet this unprecedented national demand markedly increased company turnover and profits. A post-pandemic assessment by consultants OCO Global concluded that Randox’s activities during the pandemic averted over 3,100 deaths, prevented 14,100 hospitalizations and enabled a £8.3bn contribution to the UK’s GDP.

Exiting from the pandemic and reverting to sector norms with a strong balance sheet, Randox is investing heavily in upgrading the company’s infrastructure and R&D programmes. Randox is also investing significant resources in expanding the business-to-consumer diagnostic offer under the Randox Health brand – with clinics in the UK and Ireland, and US.

Noting the pressures upon all healthcare systems, and a need to transition from ‘illness management’ to more sustainable ‘prevention’ models, Randox is investing heavily for the future. Its aim is to ensure it is well positioned to support and enable healthcare transformation through improved diagnostics, to both increase system efficiencies and improve patient outcomes.

 

Joe Kennedy III, US special envoy for economic affairs visited Randox Science Park in Antrim last week to listen for presentations on Randox Laboratories MultiSTAT and RABTA analysers. He wrote in a foreword to the Belfast Telegraph article, “I congratulate everyone who has contributed to the success of Northern Ireland’s Top 100 Companies. “From globally-recognised brands to indigenous firms, each company reflects the wide diversity of employers who generate prosperity and opportunity right across Northern Ireland.”

Randox managing director Dr. Peter FitzGerald said it welcomed the accolade of being named number one company.

“These results reflect the skills, commitment and agility of our people, and the capability of our unique technologies.

“As a team we were also able to call upon 40 years of diagnostic experience to meet the exceptional demands of Covid-19, while simultaneously supporting our established global customer base of healthcare laboratories. Crucial to this was our long term commitment to research and development which has always been a cornerstone of our business philosophy.

“Randox is committed to enhancing healthcare through more sensitive and accurate diagnostics to enable the prevention of disease and improve healthcare outcomes, whilst reducing the burden on healthcare services.

“Our profits will continue to be directed towards enabling our infrastructure and research and development, as well as accelerating better healthcare models and improving direct public access through our Randox Health clinics. Our ambition is to enable better health outcomes for all and we are committed to that goal.”

Posted on 11th June 2024 at 3:22 pm.

Written by Jordan Doherty

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