RTS is expected to pay a minimum of $500,000. Hatch will join its Life Science division, which has successfully served the North American big pharma, biotech and academic institutes for over a decade from its Manchester, UK, base.

Reportedly, RTS Life Science, parent company of RTS, a supplier of automated sample management products, biobanking instruments and drug delivery testing equipment, has been co-operating in sales and product development with Hatch for over 12 months.

Gary Walsh, managing director of RTS Life Science, said: “Hatch is a great strategic fit with RTS. It is a key part of our expansion into our core North American market and will offer the group greater efficiency as we expand both our offerings and reach in the US. Hatch adds complementary products and customers and, importantly, brings Hatch’s proven product design and manufacturing expertise to the business.”

Martin Schwalm, the current CEO of Hatch, will continue to lead the company. He said: “This is an exciting time for Hatch. Our partnership to date with RTS has been mutually beneficial. Joining RTS not only opens up new markets for existing Hatch Science products, but also creates an opportunity to use RTS market insights for the development of innovative new products to serve our customers.”