Diversified Australian healthcare firm EBOS Group has acquired a 14 per cent stake in Melbourne-based digital medication management company MedAdvisor for $9.5 million. Meanwhile, Japanese alternative asset manager J-Star through its portfolio company JVCC Ltd, has acquired 100 per cent veterinary services company Forpets.
Ebos buys stake in MedAdvisor
The investment is through a placement of approximately 165 million ordinary shares in MedAdvisor at $0.0575 per share.
Ebos has also purchased an additional 20 million shares in an off-market transaction.
“The investment will be used to extend MedAdvisor’s services to hospitals to help patients transition from hospital to home leveraging a new initial customer in HPS, to broaden the health services made available to pharmacies and their customers via MedAdvisor’s software, to increase the pace of international business development efforts in the UK and US and to extend those efforts to the Asia Pacific region, including New Zealand,” MedAdvisor said in a statement.
Ebos is listed on the New Zealand and Australian stock exchanges, and claims to have more than 3,000 employees in 52 locations across Australasia. It also does animal care.
The Ebos Group recorded its businesses generate a combined annual revenue exceeding NZ$7 billion, with 5.4 million orders coming from over 38,000 customers.
J-Star buys Japanese vet services firm Forpets
The size of the deal was not disclosed.
Founded in 2008 by veterinarians Takanori Sato, and Ryuta Kondo, Forpets operates two veterinary clinics and one pet salon in Tokyo.
Both veterinarians continue to provide services as members of JVCC Group.
The deal was made as part of JVCC’s goal to create a vet clinic group which earns trust from pet owners while providing veterinarians friendly working environment.
Through a series of acquisitions, JVCC has 12 clinics and 10 pet salons.
“JVCC continues to seek opportunities to expand and to establish an institutionalized veterinary service provider,” the J-Star said in a statement.
Mori Hamada & Matsumoto served as the legal adviser on the transaction, while Eichi Financial Advisory Inc acted as financial and tax due-diligence professional.