Medical products manufacturer and distributor Medical Australia Limited (MLA) announced a significant organic growth development with Medivet Pty Ltd. Medivet is an animal health company, headquartered in Sydney, Australia, but with a global reach. MLA has been appointed as the preferred sourcing and OEM partner for Medivet’s products, and in turn, MLA has appointed Medivet as its global distributor for all of its animal healthcare products.
Based on current opportunities and Medivet’s projections this agreement could generate in excess of an additional $3 million of annual revenue for MLA. MLA has already been contracted to supply hardware and disposables for Medivet’s recently launched Adipose Animal Stem Cell Procedure Kit, which allows veterinary surgeons to treat animals for a number of degenerative diseases on site. MLA believes this agreement with Medivet offers significant upside, and will be a catalyst to grow its presence in the pet care market – currently valued at $68 billion per annum in the United States and Canada, into which Medivet have recently launched. Medivet is also now expanding into the United Kingdom, parts of Asia, and South Africa, and this offers additional growth potential for MLA.
MLA’s Chief Executive Officer Mark Donnison said, “This is a major opportunity for MLA, and while we are already generating some sales resulting from this agreement, we are confident that the revenue upside will be significant for the Company. “We also see a great deal of potential from Medivet acting as a global distributor of MLA’s veterinary product range and this gives us an additional growth channel into what is a very large market through a well recognised and proven industry leader”.
Medical Australia Limited (MLA) is a medical company engaged in the manufacture, distribution and sale of a broad range of medical devices used by healthcare facilities and critical care services in global markets. The Company is a leader in Intravenous (IV) Medication Delivery Systems, Surgical Irrigation, Suction and Oxygen Therapy, Safety Sharps Collection and Reuse Prevention and specialised Diagnostic and Laboratory Equipment. Its products are used in three broad areas of healthcare, Human Health; Biological Collection, Processing and Laboratory; and Animal Health.
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Tags: JV Agreement, Medical Australia, Medical Supplies, Medivet, MLA
