The Deeside-based company makes this year’s Sunday Times 100 Tech List
Reacta Healthcare chief executive Paul Abrahams.(Image: )
Deeside-based food allergy diagnostics firm Reacta Healthcare has been named as one of the fastest-growing private technology firms in the UK. The company is the only firm in Wales on this year’s Sunday Times 100 Tech list.
Led by chief executive Dr Paul Abrahams, Reacta is the world’s only manufacturer of tests that can be used in clinical trials by life sciences firms developing treatments for food allergies Scientists in the UK, Europe and North America are using the company’s patented tests to safely and accurately diagnose and monitor allergies to foods such as peanuts, milk and egg.
Since being established in 2013 the business has secured equity growth finance from the family office of renowned venture capitalist Jon Moulton and the Development Bank of Wales.
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To qualify companies must be independent, privately owned, and headquartered in the UK. For the purpose of the list a technology business is defined as one that either sells its own proprietary technology or has developed proprietary technology that is essential to delivering its products or services.
The list is split(50 ranked in each) between software and hardware companies. Reacta is ranked 12th on the hardware list having achieved an annual growth rate of 117.05% in the three years to the end of 2024 when it posted revenues of £7.3m.
The Sunday Times 100 Tech found that collectively the 100 companies generated sales of £3.7bn, up by £3bn in the last three years.
In total the companies employ 23,100 people, having created 11,600 new jobs in the last three years. Moreover, as many as 81 companies on the list disclosed that they plan to make additional hires in the next 12 months, with 4,300 jobs planned in total.
Out of the 100 companies featured in the ranking more than a half (57) are based in London, with the rest spread throughout the UK. This includes 14 in the southeast, 11 in the east of England, five in the north west, 4 in the south west, for in Northern Ireland and three in Scotland. As with Wales the West Midlands has one company.
Nearly a fifth (16) of the businesses are founded or led by women.
Nearly three fifths (58) of the companies were founded in the last decade – in 2016 or after. Fuse Energy, which is ranked the highest company on the hardware list, is one of the youngest businesses on this year’s ranking, having been founded in 2022.
The vast majority (more than 80) of the companies have received external investment, raising a combined total of £11.3bn (£3.8bn for the software list, and £7.5bn for the hardware list). However, the combined total is partly skewed by the large fundraises from CityFibre, Netomnia, and Zenobe.
Fintech company Abound, as well as heading the software league table, is ranked the overall fastest-growing business of the 100 firms. Over the three year assessed period the London-based firm achieved an annual revenue growth of 490.24%.
More than two thirds of the companies (70) of the companies trade internationally. Some generate nearly all of their revenues from outside the UK, include Reacta Health.
Jon Yeomans, business editor of The Sunday Times, said: “Despite a challenging economic backdrop, Britain’s tech sector continues to produce businesses of extraordinary ambition and momentum. This year’s Sunday Times 100 Tech highlights founders who are scaling at remarkable speed, creating thousands of jobs and exporting British innovation to the world. From fintech and AI to energy and life sciences, these companies show that the UK remains one of the most dynamic technology ecosystems globally.”
