Ambitious Immunodiagnostic Systems Holdings (IDS) has moved into the Austrian market as its latest overseas territory.
IDS, which makes diagnostic testing kits for the clinical and research markets, has opened up a direct distribution operation in Austria, following successful forays into the US, France, Germany and an acquisition in Finland.
The company employs 50 people at its South Tyneside headquarters and manufacturing plant, enjoys turnover of over £8m and this year posted profits of over £1m for the first time.
IDS managing director Dr Roger Duggan, a nominee for the North-East Business Executive of the Year title, said: "Austria is an obvious choice for our expansion programme, with a total In Vitro Diagnostics market worth in excess of e400m (£270m).
"Its proximity to Germany, together with a shared language, allow us to have shared warehousing and technical support with IDS GmbH of Frankfurt, which will minimize costs, yet ensure excellent service."
IDS is a world leader in the In Vitro Diagnostics industry and has been particularly active in the field of bone diseases such as osteoporosis.
Earlier this year the company received the Queen's Award for Enterprise in recognition of six years of sustained growth in overseas sales. This was the second Queen's Award for IDS. The first, for Technological Advancement, was awarded in 1999 for the company's international business success and pioneering work in Vitamin D research.