VIP Covid testing firm referred by Liam Fox MP records £140m profit following huge government deal.
VIP Covid testing firm referred by Liam Fox MP records £140m profit following huge government deal.
Surescreen Diagnostics Limited have paid out £90m in dividends during the same two-year period.
Back in 2021, Surescreen Diagnostics secured an eye-watering £503m contract from the Department for Health and Social Care to supply lateral flow tests.
Annual accounts published in May 2023, reveal the firm has continued to record huge profits following the DHSC deal. Surescreen’s gross profit has now surpassed £140m over a two year period.
The two-year contract was handed to Surescreen Diagnostics via the government's controversial “VIP lane” after Conservative party MP Liam Fox referred the firm to former Health Secretary Matt Hancock.
Surescreen Diagnostics would then subsequently go on to donate £20,000 to Mr Fox as revealed by Good Law Project.
The contract, awarded via the “VIP” lane has been incredibly lucrative for Surescreen Diagnosics and recent accounts published on Companies House reveal the firm made £68m gross profit last year on top of the £72m gross profit recorded in 2021. In total the company’s gross profit since the award of the government contract exceeds £140m.
During the same period the firm has paid out over £90m in dividends.
Surescreen Diagnostics were not the only Covid testing firm to make huge profits from contracts secured under the governments controversial “Test and Trace” programme. This week, we revealed that a US banker paid himself £149m in dividends from lucrative UK government Covid testing deals awarded to a company called Tanner Pharma UK.
Surescreen Diagnostics were approached for comment.
The stats:
Surescreen Diagnostics Ltd
Value of “VIP” lane Covid contract awarded to Surescreen Diagnostics: £503m.
Surescreen gross profits since contract award: £140m.
Surescreen dividends paid since the contract award: £90m.
Donations made by Surescreen Diagnostics: £20,000 to Conservative party MP Liam Fox.
This week we also revealed:
