Health: Ascendis acquires Arctic products for R151m

ASCENDIS Health had acquired health-care products from Arctic Healthcare for R151 million, the listed health-care brands company announced yesterday. The brands included Chela-Fer, MenaCal.7, Chela-Preg, Chela Mag, Osteoflex and Supa Chewz. “These brands are supported by both retail consumers and health-care professional due to Arctic Healthcare’s focus on product differentiation and quality,” Ascendis said. The deal would have resulted in an 8 percent increase in Ascendis’s earnings a share on a pro forma basis for the six months to December last year. Ascendis said it was committed to expanding its national footprint through an acquisition of brands that enjoyed market-leading positions in their categories. Ascendis chief executive Dr Karsten Wellner said the acquisition of the products was an exciting addition to the Ascendis consumer brands division. “Their integration allows us to unlock value by taking advantage of immediate synergies and efficiencies already within our group particularly via production, marketing and distribution channels.” Ascendis shares dropped 2.66 percent to close at R14.65 on the JSE yesterday. – Nompumelelo Magwaza