EBOS expands medical devices business with Cryomed acquisition
EBOS Group Limited (EBOS) today announced a further acquisition to its medical devices business with the strategic acquisition of Cryomed, a leading provider of medical devices to the aesthetics market.
Speaking at EBOS’s Annual Meeting held in Christchurch today EBOS Chief Executive Officer, John Cullity welcomed Cryomed to the EBOS group of businesses.
“We are very pleased to welcome Cryomed into our diversified company as a further addition to our expanding medical devices business. Cryomed is the leading independent distributor of aesthetic devices and consumable products in Australia and it is a market that is benefitting from high growth rates.
“We are very confident of building our devices business into a market leader in the years to come and this acquisition continues the development of this significant platform to our Healthcare portfolio”, Mr Cullity said.
Cryomed Managing Director, Josh Locker said the acquisition of Cryomed by health industry giant EBOS will allow it to provide a more comprehensive service to its valued clients and industry partners and raise the bar for the aesthetic community.
“Cryomed was approached by EBOS in February 2020 with both organisations sharing many common values and approach to growth and expansion for their medical device businesses. With the backing of EBOS we are committed to continuing to supply our leading aesthetic technology into the Australian and New Zealand markets”, Mr Locker said.
“Importantly, Cryomed as we know it will continue to operate as a stand alone business within the EBOS Group. The management team of myself, John Filler and Krystian Szuba will remain with the business and a priority will be the expansion of our facilities and staffing in both countries, starting with new purpose built headquarters in Sydney’s east.
“The next phase of the EBOS-Cryomed partnership will be to bring more innovative and exciting devices and skin care products to our customers”, Mr Locker added.
The acquisition is expected to complete by the end of October.
EBOS Group Limited is the largest and most diversified Australasian marketer, wholesaler and distributor of healthcare, medical and pharmaceutical products. It is also a leading marketer and distributor of recognised consumer products and animal care brands.
In 2013, Cryomed distributed its first device – the Pastelle Q-Switched Laser – and very quickly became a leading device company in Australia and New Zealand. Since that time the company has been consistently launching game-changing laser and laser like devices that offer great value, great user experience and great clinical results. Cryomed client favourites include Pastelle, Secret RF, Fraxis duo, Utraformer III, Clatuu Alpha and Teslaformer. In 2019, Cryomed launched FILLMED that become an instant best-seller in the Australian and New Zealand markets.