Aussie medtech on the brink of another acquisition

MedTech & Diagnostics News: An Australian private equity firm is gearing up for a significant exit, reportedly valuing the medical device supplier at $1 billion.

This comes after Navis Capital Partners acquired Device Technologies in 2018 from Pemba Capital Partners for approximately $700 million. At the time, Swiss firm DKSH, pharmacy supplier EBOS, and Pacific Equity Partners were among other interested bidders.

This year has been pivotal for Device Technologies. In July, the company made its first foray into Southeast Asia, with acquisitions in Malaysia and Singapore. The company expanded its portfolio by acquiring Venusys and the Infinity Group of Companies, which includes Fusion Scientific, Bits Medical, and Vennbio Nutriceutical. This move not only positions Device Technologies in the point-of-care imaging market but also strengthens its presence in the aesthetics industry.

In another major development, the company opened its National Distribution Centre earlier this year in Sydney’s Marsden Park. The new hub is expected to play a crucial role in distributing both locally manufactured and imported medical technologies to healthcare providers across Australia and New Zealand.

Founded in 1992, Device Technologies has grown to manage over 100 brands, distributing medical equipment and device consumables to hospitals and healthcare professionals. Since Pemba Capital Partners and the company’s founders joined forces, Device Technologies has completed over ten acquisitions.

The company imports a range of technologies from the US and Europe while also domestically manufacturing essential medical products. Its portfolio spans various sectors, including cardiovascular, pulmonary, critical care, gastroenterology, robotics, spine, orthopaedics, infection prevention, and ophthalmology.

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