News - Significant
Merger in Medical Device Market
Source: Medical Chronicle
Issue: June 2008
Mergers and acquisition activity in the medical device market
has remained at a high level over the past year, despite an increasingly
challenging operating environment. Adding to the challenges are
pricing pressures as a result of foreign exchange movements,
increased regulatory scrutiny, and uncertainty over the effect
of in-patient tariff reimbursement proposals.
The Imaging International Group of Companies
has acquired Marcus Medical. This acquisition will be of great
benefit to both Marcus
Medical and Africa X-Ray Industrial & Medical (AXIM), which
is already a group company, as well as their many customers.
AXIM specialises in the distribution, sales and service of x-ray,
ultrasound and digital imaging apparatus in the radiological
industry. AXIM is also a major supplier of consumables and accessories
in this field.
Marcus Medical has, over 70 years, developed a highly-respected
reputation for its integrity, long standing exclusive distribution
rights for globally-recognised brands in the medical and surgical
fields and its commitment to its stakeholders, customers and
principals.
The group has also just finalized the participation scheme on
the development of the South African economy, adhering to the
Codes of Good Practice for Broad-Based Black Economic Empowerment,
and supporting the impending Health Charter.
Group Chairman, Peter Goldberg, commented: “Marcus
Medical’s
product range, which is well-regarded in both the global as well
as domestic medical device and consumable markets, together with
the stature and dynamism of the AXIM Group, will provide a broader
base of product and services to our customers, in both the public
and private healthcare fields. This will also facilitate significant
growth opportunities within the organisation and has the full
support of all our major principals. The economies of scale and
synergies, which can be shared between the companies, will only
serve to improve customer service, support and satisfaction.”
This merger seems to bode well for all
group companies and the industry awaits the cross synergies
and better service that is
expected. The market has already picked up on the improvements
and economies of scale and there seems to be a tremendous future
for this group.
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