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Eastland announces acquisition
MEDICAL safety devices manufacturer Eastland Medical Systems Ltd has announced it will proceed with the acquisition of Medical Industries Australia Pty Ltd for $5.4 million.
MIA is an independent distributor and supplier of medical products to hospitals, practitioners and pharmacies, and Eastland believes that the purchase will allow the company to become cash-flow positive.
Eastland managing director Don O’Sullivan said MIA’s experience would give the company greater market access for its medical products.
He said the acquisition fitted well with the company’s direction and he added that by providing a facility for the production of its patented safe injectable devices, it allowed the company to take control of the commercialisation of the product.
The announcement follows the company’s purchase of Australian needle manufacturer Portland Surgical Products earlier this year, and will provide the company with a facility for the production of its safe injectable devices.
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