Generex Biotech inks $1m deal to acquire distributor Medisource Partners

Generex Biotechnology said yesterday that it inked a deal to acquire medical and surgical product distributor Medisource Partners in a deal worth approximately $1 million. Miramar, Fla.-based Generex said that the deal includes all assets of Medisource including its business operations, accounts receivable, inventory, contracts and real estate for $1 million worth of Generex stock, as well as additional cash and stock considerations for achieving certain sales and profit milestones. “The strategic acquisition of Medisource Partners provides Generex with a value-added service model that fits the corporate mission of NuGenerex Distribution Solutions, adding immediate revenues and profits, while providing significant upside as we integrate the medical and surgical supply business into our current and future MSO networks. The extensive lines of surgical and biological products offered in the Medisource catalogue will enable us to expand our offerings to now include hospital systems, as well as our MSO partners. Our management services will not only integrate purchasing and billing, but will provide better pricing and access to new products, especially biologics, including platelet rich plasma, bone marrow aspirate, cord blood, and bone implants. We are excited that the acquisition of Medisource will provide access to a whole new line of products that not only enhances our current MSO network in the five states, but will eventually support the expansion of our MSO network in...
Source: Mass Device - Category: Medical Devices Authors: Tags: Business/Financial News Distribution Mergers & Acquisitions Generex Biotechnology Corp. Source Type: news