Monday, August 27, 2007

Comvita Wraps Up Acquisition of Medihoney

Comvita Acquires Australian Company in a Strategy to Secure the Global Medical Honey Business
AAP MediaNet, 8/23/2007

Comvita has wrapped up the acquisition of Australian based wound care specialist Medihoney and received FDA approval for its honey wound dressing.

These two major events represent the culmination of a sustained strategy to secure a leadership position internationally in the honey-based wound care market.

Comvita CEO Brett Hewlett says Medihoney will add to Comvitas medical capability through its specialised team bringing considerable technical and regulatory expertise, existing networks and distribution channels. For example, Medihoney has an exceptional UK sales team which has successfully launched their leading wound care lines into the NZ$100 million UK antimicrobial market.

The majority of the worlds advanced wound care sales are attributed to the US and Europe. The acquisition of Medihoney with its coverage in UK and Europe - plus the partnership with Derma Sciences in the US - gives Comvita the ability to penetrate the worlds two largest wound care markets.

Comvita will be able to accelerate its reach into lucrative new markets such as the UK and Germany through Medihoneys existing distribution network. Furthermore, Medihoney is licensed as a Medical Device Manufacturer, audited to ISO 13485:2003 and complies with European MDD 93/42/EEC, enabling a faster product development pipeline…

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