Avacare Health Australia acquires Sydney-based Vitramed Pty Ltd, with goal to supply Avacare Group product range through Vitramed’s strong distribution networks in Queensland, NSW and Victoria
‘This purchase is one of many Avacare plans in Australia, as the South African-based multinational – Avacare Group – continues to expand in Australia and South East Asia as part of its global corporate strategy. ‘
Global medical supply company, Avacare Health Australia have acquired Sydney-based Vitramed Pty Ltd – a specialist distributor of gastrointestinal medical devices and accessories.
The move to acquire was initiated by Avacare Health, following its strong working relationship with Vitramed, as Avacare has been the exclusive distributors of Vitramed products in Western Australia and South Australia. By acquiring Vitramed’s head office in New South Wales, Avacare Health plans to leverage Vitramed’s existing distribution networks in eastern Australia as a channel to promotes its large range of medical and pharmaceutical products. It plans to focus on markets in New South Wales, Victoria and Queensland.
Avacare Australia is a subsidiary of the Avacare Health Group based in South Africa. The group distributes a range of high-quality disposables, pharmaceuticals, devices and consumer health products, generating A$345m in world-wide revenues per year. The purchase of Vitramed aligns with Avacare Australia’s strategy to expand the company’s product lines by partnering with high quality and speciality medical companies.
Avacare Health Australia Director Raj Singh said: “We are delighted to announce this new acquisition of Vitramed. We know Vitramed products are excellent, and the brand will continue to grow, under the leadership of former owner Julie Simmonds. Importantly, Julie is remaining at the helm of Vitramed as Managing Director and we would like to thank her for that.
“This purchase is one of many Avacare plans in Australia, as the South African-based multinational – Avacare Group – continues to expand in Australia and South East Asia as part of its global corporate strategy. It follows a recent MOU agreement with Perth-based Cannaponics, signalling an intention to set up a pharmaceutical manufacturing facility, near Collie, Western Australia.”
Operating in Oceania and South East Asia, Vitramed specialises in gastrointestinal medicine. The company’s unique focus on gastrointestinal therapies and devices enables it to deliver well-researched, niche offerings to clinical partners. Vitramed will remain under the brand name Vitramed, maintaining its 15-year reputation as an established industry supplier. Current Vitramed staff will remain at the head office in Sydney and Vitramed Managing Director Julie Simmons will continue to manage the Vitramed Australia portfolio.
Commenting on the acquisition, Vitramed Managing Director Julie Simmons said:
“Vitramed has a strong and respected portfolio, focused on distributing gastrointestinal medical devices in Australia. The acquisition of Vitramed by Avacare Health Australia is a fantastic opportunity to leverage the considerable sales expertise of the Avacare Health Group, to further expand Vitramed products across Australia and into new global markets.”
See full media release here.