Surgical Innovations Group Plc has acquired 100% of Elemental Healthcare Limited in a move described as the “natural next step” by Surgical Innovations’ executive chairman Nigel Rogers.
Elemental Healthcare is a leading supplier of medical devices, distributing to the NHS and private hospital groups throughout the UK, and are committed to reducing waste in the hospital supply chain – a key selling point of the Surgical Innovations’ (SI) Resposable® range.
In addition to exclusive distribution of SI branded products in the UK, Elemental Healthcare supply a range of complementary products from US based Microline, alongside specialist product ranges from the likes of GI Dynamics, Peters Surgical, Cousin Biotech and Meccellis Biotech.
Elemental Healthcare recorded £6.5 million in revenues for the year ending 31st March 2017, with gross margin of 42% and EBIT margin of 17%. Approximately 30% of revenues are generated through SI branded product sales.
Surgical Innovations will see many benefits from acquiring such a profitable, reputable business. Beyond direct access to an experienced UK direct sales force to help drive SI’s branded sales, the group will enjoy diversification of product ranges into new growth areas, absorb relationships with key suppliers and gain access to new and innovative thinking within the UK clinical and academic communities.
Elemental Healthcare’s founding directors Adam Power and David Marsh have a combined medical device sector experience of over 50 years. The pair will retain significant shareholdings in the enlarged business, and will join the Surgical Innovations Group Plc board as Development Director and Commercial Director.
The Surgical Innovations Group Plc board are looking forward to working alongside Elemental Healthcare in securing a long lasting partnership. For more details about the acquisition, please follow this link:
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