Australian device company Medical Developments International (MVP) has acquired Australian spacer company Breath-A-Tech from Avita Medical for A$2.47 million, comprised of A$2.029 million cash up front and 117,894 shares of MVP stock, which will be escrowed for 6 months, the company said. Breath-A-Tech’s products include the Breath-A-Tech spacer and the Funhaler spacer, which are the leading spacers sold in Australia.
MVP CEO John Sharman commented, “The acquisition of Breath-A-Tech will establish MVP as market leader throughout Australia in asthma respiratory devices. The combination of their market position and our technology and product pipeline will give us a strong market position and offering. The acquisition will also add momentum to MVP’s global growth strategy and in particular our recent success in North America.”
Read the MVP press release.
