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AorTech swings to profit as it starts US chapter

AorTech, one of Scotland's biotechnology white hopes a decade ago, has reported a £1.1 million turnaround in profit to move back into the black as it starts a new life in the US.

The half-year pre-tax profit of £182,000 reverses last year's loss of £992,000 and coincides with the group's move from Mel-bourne to Minneapolis and the return of founder Eddie McDaid as finance director.

Mr McDaid stood down as chief executive in 2002 but returned as a non-executive three years later. AorTech once employed 200 at Bellshill in Lanarkshire but closed the plant in 2004.