BackHealthium acquires AbGel to strengthen portfolio and expand market presence
Earlier this financial year, the Company had acquired VitalCare Group in UK to grow its urology portfolio and to expand its market in Europe and the US
PremiumNEW DELHI : Healthium, a global player in medical devices, on Tuesday announced the successful acquisition of the AbGel gelatin sponge business from Mumbai-based Shri SGK Labs, adding to its product portfolio focused on surgical and post-surgical care. Earlier this financial year, the Company had acquired VitalCare Group in UK to grow its urology portfolio and to expand its market in Europe and the US.
Healthium’s product portfolio includes surgical sutures, needles, a patented arthroscopy portfolio, a urology portfolio, hernia meshes, haemostats, gloves, ligation clips, surgical staplers and other wound closure devices. The company holds, or has applied for, 60 patents in India and the US. Its manufacturing facility in Bengaluru is registered with USFDA since 2004.
“Hemostasis during surgical procedures is an area of concern for surgeons. We are excited to add a brand such as AbGel that is a recognized brand in gelatin sponge category and has been contributing to safer surgeries for over four decades," Anish Bafna, chief executive officer and managing director, Healthium Medtech, said.
“This acquisition strengthens our presence in the category and our commitment to drive value for our customers. We look forward to combining Healthium’s research and development, and manufacturing capabilities with the talent and expertise brought by AbGel’s team as we expand access to precision medtech for patients, globally," said Bafna.
AbGel is a recognized brand in the gelatin sponge category and has been used in India since 1980. Healthium aims to further expand the market access of this portfolio using its wide network of hospitals across India.
AbGel is an absorbable gelatin sponge, manufactured from highly purified neutral gelatin with haemostatic capabilities and is designed to control blood oozing in instances of haemorrhage from multiple small vessels, and is completely absorbed in 4 to 5 weeks with no residue or encapsulation. It is non-toxic, non-allergic, non-immunogenic and non-pyrogenic.
Surgeries may lead to substantial bleeding intra-operatively causing increased morbidity and mortality. AbGel is beneficial in effectively managing this across a wide variety of specialties, including abdominal surgery, neurosurgery, gynaecological surgery, ENT surgery, dental surgery and oncosurgery.
“We are confident that with Healthium’s wide distribution network and the additional support from its direct sales force, AbGel will successfully reach, touch and benefit many more lives," Viral Parekh, director, SGK Labs said.
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