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November 16, 2018updated 22 Nov 2018 11:19am

Navis Capital to buy Device Technologies in $509m deal

Australian private equity firm Navis Capital Partners has reportedly signed an agreement to acquire medical devices supplier Device Technologies, owned by Pemba Capital Partners, for around A$700m ($509m).

Australian private equity firm Navis Capital Partners has reportedly signed an agreement to acquire medical devices supplier Device Technologies, owned by Pemba Capital Partners, for around A$700m ($509m).

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Medical Device Industry Landscape In Asia-Pacific

GlobalData's APAC Medical Devices Industry Landscape – 2022 free study breaks down the APAC medical devices market by segment and region and includes insights on local and global competitors, pipeline product developments, clinical trials studies, and significant deals in the industry. The APAC medical device industry witnessed significant developments, launches, implementations, and adoption of new medical device technologies in the past decade, however the high cost of devices, regulatory hurdles, reimbursement pressure, and healthcare budget constraints have challenged market expansion across various territories and segments. APAC is the fastest growing regional market for medical device clinical trials, with China and Japan emerging as major clinical trial hotspots. The growth in medical device clinical trials in the APAC region is attributed to an increase in research partnerships between biopharma companies and clinical research organizations (CROs). This report also provides an in-depth analysis of the medical device market's opportunities and challenges, the influence of COVID-19 on the market, and government activities aimed to develop the APAC medical device market.
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Founded in 1992, Device Technologies own more than 100 brands, including SI-Bone, RTI Surgical, Primal and Implanet, to hospitals and healthcare professionals.

“Navis Capital intends to fund the acquisition from its Asia-based funds, and expects to close the transaction by the end of this year, reported Australian Financial Review.”

It supplies more than 30,000 products to more than 5,000 customers across Australia and New Zealand. The company domestically manufactures medical equipment and device consumables as well as imports them from the US and Europe.

Device Technologies portfolio includes technologies and services in cardiovascular, pulmonary, critical care, gastroenterology, robotics, spine, orthopaedics, infection prevention and ophthalmic areas.

Navis Capital intends to fund the acquisition from its Asia-based funds, and expects to close the transaction by the end of this year, reported Australian Financial Review.

The private equity is said to have secured the bid after investment bank Goldman Sachs, boutique firm Fort Street and law firm Gilbert + Tobin conducted an auction for Device Technologies.

Other bidders for the business included Swiss company DKSH, pharmacy supplier EBOS and Pacific Equity Partners.

Pemba Capital Partners invested in Device Technologies, along with its own founders. Since then, the medical instruments supplier completed more than ten acquisitions.

For the financial year 2018, Device Technologies is expected to report $429.3m in revenue and $57.5m EBITDA, which could rise to $475.9m and $63.3m, respectively, next year.

Navis Capital is anticipated to expand the business locally as well as across Asia.

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Free Report
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Medical Device Industry Landscape In Asia-Pacific

GlobalData's APAC Medical Devices Industry Landscape – 2022 free study breaks down the APAC medical devices market by segment and region and includes insights on local and global competitors, pipeline product developments, clinical trials studies, and significant deals in the industry. The APAC medical device industry witnessed significant developments, launches, implementations, and adoption of new medical device technologies in the past decade, however the high cost of devices, regulatory hurdles, reimbursement pressure, and healthcare budget constraints have challenged market expansion across various territories and segments. APAC is the fastest growing regional market for medical device clinical trials, with China and Japan emerging as major clinical trial hotspots. The growth in medical device clinical trials in the APAC region is attributed to an increase in research partnerships between biopharma companies and clinical research organizations (CROs). This report also provides an in-depth analysis of the medical device market's opportunities and challenges, the influence of COVID-19 on the market, and government activities aimed to develop the APAC medical device market.
by GlobalData
Enter your details here to receive your free Report.

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