MEDTECH Holdings Ltd (Medtech) is acquiring Margolis Medicals (Pvt) Ltd.
The company said the takeover would enhance the manufacturing business and enable the group to supply certain essential products required in the market at competitive prices in the face of expensive imported products.
For the six months ended June 30 Medtech’s revenue shot up by 525% from $302 million in 2002 to $1,9 billion in June this year.
Net profit before taxation also went up by 615% from $88 million to $637 million during the same period this year.
Profit after tax on the other hand increased by 464% from 88,6 million to $499,5 million.
“Agreement has been reached to acquire Margolis Medicals and regulatory approvals are awaited,” the company said.
“This business will enhance the manufacturing business and enable the group to supply certain essential products required in the market at competitive prices in the face of expensive imported products.”
