EBOS yesterday confirmed a binding agreement for the acquisition of HPS, Australia's largest provider of outsourced pharmacy services to hospitals (PD breaking news yesterday).
Valued at $154 million, the purchase "both complements and extends EBOS' existing Australian hospital business and provides a new platform for expansion in this important market," the company said.
HPS's transformational growth over the past five years has seen it provide its pharmacy hospital services to 100 sites with 580 staff.
EBOS ceo Patrick Davies (pictured) said HPS was an important strategic investment "as it provides the Group with a vertically integrated model in a market segment that has attractive long term growth prospects, including the continued introduction of new drugs.
"The acquisition of HPS continues EBOS' history of expansion in both the Australian and New Zealand hospital markets where it is the leading provider of wholesale pharmaceutical services.
"By virtue of this acquisition, EBOS will be the leading provider of outsourced pharmacy services in the Australian hospital sector," Davies added.
The key management of HPS will continue to operate the business under EBOS' ownership, with HPS forming part of the group's Institutional Healthcare business division.
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