Ebos takes 14% stake in Australian medi-softwarefirm MedAdvisor for A$10.5 mln

Ebos Group has branched out into medical software buying a 14 percent stake in Australia's MedAdvisor business for A$10.5 million. 

Christchurch-based Ebos said the investment was part of a wider partnership with the software company, whose system has more than 900,000 users and connects some 2,600 Australian pharmacies.

"Ebos's investment is part of a wider partnership with MedAdvisor that will seek to advance the commercial interests of both organisations by increasing the availability of digital health applications across Ebos's community pharmacy and institutional healthcare businesses," the company said in a statement. 

The healthcare and animal products maker has been expanding its pharmacy footprint, buying Australia’s largest provider of outsourced pharmacy services to hospitals, HPS, for A$154 million, in May. Last year, it bought a majority stake in Terry White Group, merging that business with its Chemmart unit to create one of Australia's largest chains of pharmacies.

Ebos shares slipped 0.2 percent to $17.86, having gained 7.2 percent so far this year. 

(BusinessDesk)

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

Rip Curl purchase a done deal on Kathmandu proxies alone
Comvita chair Neil Craig eyes the exit once he finds a new CEO
Mercury raises guidance on increased storage, high spot prices
Eroad reports strong 3Q sales growth, eyes ASX listing
MediaWorks puts TV business on the block
NZ dollar benefits as preliminary Brexit deal improves risk appetite
ANALYSIS: Why banks don't pass on full OCR cuts
NZ Europeans make up 80% of business leaders, survey shows
Zespri tries to whet American appetite for kiwifruit
MARKET CLOSE: NZ shares fall as Pushpay follows Aussie software firms lower