• June 15, 2021

Shalby acquires implant property from Consensus Orthopedics for Rs 85 crore, Well being Information, ET HealthWorld

May 15, 2021

Ahmedabad (Gujarat): Multi-specialty hospital Shalby mentioned on Saturday it has entered right into a definitive settlement to accumulate sure property from California-based Consensus Orthopedics for a money consideration of 11.45 million {dollars} (about Rs 85 crore).

The property have been acquired by Shalby Superior Applied sciences Inc, a wholly-owned subsidiary of Mars Medical Units, which in flip is a wholly-owned subsidiary of Shalby.

Consensus designs and manufactures orthopedic implants and devices with gross sales predominantly in North America. Key prospects embrace hospitals, surgeons and wholesale distributors.

The corporate has accomplished over 1.6 lakh joint alternative procedures with zero remembers.

The acquired property are primarily comprised of stock and plant and gear. Product stock consists of knee programs, cell bearing knee programs, hip programs and revision knee programs.

The manufacturing plant and gear consists of machining and ending (60,000 elements each year), inspection (75,000 to 80,000 elements each year) and cleansing, packaging and sterilisation (1.5 lakh elements each year).

Shalby is a number one hospital in hip and knee alternative surgical procedures in India with 15 per cent market share in personal hospitals providing joint replacements.

“This acquisition is a strategic milestone within the historical past of Shalby and can allow us to diversify our core hospital healthcare providers enterprise into associated and high-growth implant product choices,” mentioned Chairman Vikram Shah.

“The synergies between companies are compelling and can return fast advantages of sourcing high quality implants into India throughout our hospital group. This company improvement is totally in keeping with our acknowledged technique to develop our orthopedic enterprise,” he mentioned in an announcement.

The transaction is anticipated to be earnings accretive in FY2023.

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