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News & Trends - Medical Technology

Paragon Care’s acquisition to support Asia Pac expansion of the medtech business

Health Industry Hub | March 11, 2022 |
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MedTech News: Two highly complementary medtech businesses have merged in a move that will help the expansion within the Asia-Pacific region.

Paragon Care has acquired Quantum Health Group for approximately $100 million. The company announced the appointment of Mark Hooper, former Chief Executive Officer of Sigma Healthcare, as Group Chief Executive Officer and Managing Director of Paragon Care.

The parties believe the merged entity would generate $291 million in revenue and Paragon Care Chair, Shane Tanner, said he was excited to merge with Quantum Health Group.

“We are very pleased to announce that Paragon Care will be joining forces with Quantum,” Mr Tanner said.

“Our highly complementary distribution networks of suppliers and customers will ensure that the merged entity is well positioned to scale into the high growth Asian markets in the years ahead.”

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Quantum Chair, Drew Townsend, echoed Mr Tanner’s comments.

“Over the past few years, we have built a leading healthcare distribution business in Asia, and we are confident that the merged entity will be attractive to existing and new suppliers who are looking to access the Asia Pacific market in the next decade,” he said.

Mr Hooper commented “I am very excited to be joining Paragon Care at the early stages of its Asian expansion strategy, as the Company upgrades manufacturing capacity and scales operations through the merger with Quantum Health.

Quantum shareholders hold approximately 43.83% of the merged entity, and Paragon shareholders hold approximately 56.17%.

Paragon Care provides medical equipment, medical devices and consumables for the Australian and New Zealand healthcare markets. Its product portfolio includes critical care, diagnostics, neonatal, medical products and consumables, orthopaedics, surgical, technology and connectivity, urology, veterinary and services. The company will be adding Quantum Health Group’s medical imaging equipment and services to its portfolio.


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