MVP acquires asthma device maker

Company News

Medical Developments International (ASX: MVP) has completed the acquisition of Breath-A-Tech in Australia.

Breath-A-Tech is a leading brand of asthma space chambers in the Australian pharmacy and hospital markets. The acquisition will boost MVP's status as a leader in the asthma respiratory devices in Australia.

"The combination of their market position and our technology and product pipeline will give us a strong market position and offering," said MVP in a statement. "The acquisition will also add momentum to MVP’s global growth strategy and in particular our recent success in North America."

The total final consideration comprised $2.029 million in cash and a scrip issue of 117,894 MVP shares, which are escrowed for 6 months.

“The acquisition of Breath-A-Tech will establish MVP as market leader throughout Australia in asthma respiratory devices," said MVP CEO Mr John Sharman.

MVP manufactures Penthrox, a fast acting trauma and emergency pain relief product. It is used in Australian Hospitals including Emergency Departments, Australian Ambulance Services, the Australian Defense Forces, Sports Medicine and for analgesia during short surgical procedures such as Dental and Cosmetic surgery as well as in other medical applications.