Hospital chain Shalby to buy implant assets of US firm Consensus Orthopedics (VCCircle)
Multi-speciality hospital chain Shalby Ltd said it will acquire implant assets of California-based Consensus Orthopedics for $11.45 million (Rs 83.7 crore).
Vikram Shah, chairman of Shalby, said in a stock market disclosure that the acquisition will help the Ahmedabad-based hospital chain to diversify its core hospital healthcare services business into related and high growth implant product offerings.
Shalby expects its implant sales to account for 15% of total revenues by fiscal 2022-2023. Shalby's total revenue in fiscal 2019-20 was Rs 486 crore. https://staticassets.vccircle.com/dfp-ads/content_ad.html
The acquired assets comprise of inventory including knee systems, mobile bearing knee systems, hip systems and revision knee systems, and plant and equipment.
The assets will be acquired by Shalby Advanced Technologies Inc, a wholly owned subsidiary of Mars Medical Devices. Mars Medical in turn is a wholly-owned unit of Shalby.
Consensus Orthopedics designs and manufactures orthopaedic implants and instruments with sales predominantly in North America.
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