$18.5m purchase part of Sigma’s broader healthcare strategy.
Sigma Healthcare has just announced the acquisition of MPS, described as Australia’s largest provider of dose administration aids to the aged care sector and community pharmacy across Australia.
Sigma ceo Mark Hooper said MPS was a natural and compelling addition for the company, and enjoys a market share of almost 20% – “almost three times that of its nearest competitor”.
“We see tremendous opportunity to not only take a leading position in the dose administration market, but to achieve further growth in what remains a very fragmented market,” he said.
MPS will draw product, services and support from Sigma’s distribution centres across Australia, and provides a model that complements the Sigma Hospital Services and community brands, Hooper added.
The announcement coincided with the release of Sigma’s half yearly results, with a 14.6% increase in reported earnings before interest and tax (EBIT) to $42.8 million. The company’s reported net profit after tax jumped 16.7% to $29.7 million, despite a 6.1% decline in overall revenue to $2.02 billion.
More details in tomorrow’s issue of Pharmacy Daily.