Zetta Genomics sold out of administration

FRP Advisory secures the sale of Zetta Genomics, safeguarding jobs and ensuring continuity for customers.

Norwich-based genomic data management and analytics business Zetta Genomics Limited has been sold out of administration, safeguarding eight jobs and securing continuity of service for customers. 

TriNetX, LLC, an American company, acquired Zetta Genomics for an undisclosed fee. The transaction included the sale of its assets, including intellectual property, goodwill and customer contracts with employees transferring being offered new employment.    

Hayley Watson and Richard Bloomfield of FRP Advisory were appointed as Joint Administrators of Zetta Genomics earlier this year and completed the sale of the business and its assets shortly after. 

Zetta Genomics operates in the healthcare technology sector, providing genomic data management and analytics services. Its flagship XetaBase platform supports mission-critical operations for its customers in the healthcare and life sciences markets. 

The business encountered financial pressures in the lead-up to administration, linked to funding constraints and wider market conditions. Despite these challenges, Zetta Genomics retained a strong product offering and an established customer base. 

Following their appointment, the Joint Administrators worked with management, employees, customers and suppliers to stabilise the business, maintain service continuity and explore options for a sale. 

XetaBase will continue to operate under the new ownership, providing a platform for future investment, recovery and growth. 

Hayley Watson, Appointment taking Director at FRP and Joint Administrator of Zetta Genomics Limited, said: “Zetta Genomics had developed a highly regarded platform with an established customer base operating in a specialist and growing market. 

“Following our appointment, our priority was to maintain continuity for customers, preserve value in the business and secure a transaction that would provide the best possible outcome for stakeholders. 

“The sale safeguards jobs, ensures continuity of service for customers and enables the successful transition of XetaBase into new ownership, providing a strong foundation for recovery and future growth. We wish the new owners every success going forward”. 

HCR Law, with a team led by Frank Brumby, provided legal support to the Joint Administrators. Steve Kerr at Hilco provided valuation support, and Paul Hemings and Lloyd Price at Nelson Advisers supported the AMA process to find a buyer and drive value.