Old Mutual Private Equity (OMPE), has acquired a 50% interest in Medhold Group, an end-to-end supplier of medical devices.
The transaction has obtained unconditional approval from the Competition Commission in South Africa and pending approval from the Competition Commission in Zimbabwe.
Medhold operates in the medical devices market, and is backed by vital clinical engineering support and after-sales repair services to the healthcare industry in Southern Africa.
Its product range includes anaesthetic delivery systems, maternal infant care, patient monitoring, cardiology, ventilation, infection control, surgical and electro-surgery equipment, among others, which are used to sustain life and support patient care.
Along with its initial investment, OMPE said it will provide additional growth capital to support the business’s expansion plans locally and in the rest of Africa, to further scale and cement Medhold’s position as a regional leader.
The partnership will also further enhance Medhold’s Broad Based Black Economic Empowerment credentials through an improved BBBEE scorecard.
Medhold remains 50% owned by the Management team.