(Image: Getty Images)
A major Scottish medical testing kit company has revealed 144 staff have taken voluntary severance as part of a programme launched this year.
It comes after the company, one of the largest private-sector employers in the Highlands, carried out a restructuring.
Lifescan Scotland Limited, which develops and manufactures blood-glucose monitoring products used by diabetics, said the site remains fully operational in new accounts.
The Inverness-registered company is behind medical products including OneTouch.
The Inverness-based company develops and manufactures advanced blood-glucose monitoring products (Image: Getty Images)
The company said that after the accounts' December reporting date it "initiated a restructuring programme at its Inverness site through a Voluntary Severance scheme offered to its employees".
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It added: “Participation in the scheme was confirmed after the reporting date, with 144 employees subsequently accepting and leaving the business by June 30, 2026. The site remains fully operational.”
The company's profit after tax for the 52 week period to December 28, 2025, amounted to £4m, set against £2.1m the year before.
Turnover was £4.1m, compared with £4.8 in the prior period. Research and development costs were £442,000, set against £2.7m in 2024.
Operating profit increased by 25% compared to the year before period because of “significant exchange rate fluctuations" resulting in gains of £2.6m.
During the period, the company participated in a group restructuring in connection with the emergence of the previous immediate parent undertaking, US-based LifeScan Global Corporation, LLC, from Chapter 11 proceedings on December 8, 2025.
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The company said: “As part of this process, the company entered into an intercompany claims agreement under which certain intercompany balances were settled, offset or restructured. In particular, amounts owed to and from group undertakings were netted, and the resulting net intercompany asset was written off.
“These transactions resulted in the elimination of certain intercompany balances and a corresponding distribution from retained earnings of £76m. The transactions were non-cash in nature and did not impact profit or loss.”
The immediate parent undertaking is now LifeScan U.S. LLC, a company organised under Delaware law in the US.
The company listed the average number of Inverness employees for 2025 at 637.
What the directors said
The directors said in their report: "During the period, the company participated in a group restructuring in connection with the emergence of the previous immediate parent undertaking, LifeScan Global Corporation, LLC, from Chapter 11 proceedings on December 8, 2025.
"Through this process, LifeScan Global Corporation, LLC eliminated more than 75% of its debt, providing the financial flexibility needed to continue its leadership in the glucose management industry.
"The directors have prepared an assessment of going concern for the period to 31 December 31, 2027 that indicates that the company will continue to be profitable and received a letter of support from the parent confirming that they will continue to make funds available to the company to meet its liabilities as and when they fall due for the going concern period.
"At the time of approving the financial statements, given the forecasts prepared and the support provided by the parent, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus, the directors continue to adopt the going concern basis of accounting in preparing the financial statements."