Sanofi-Aventis to acquire Symbion Consumer
This article was originally published in Scrip
Executive Summary
Sanofi-Aventisis to acquire Symbion Consumer, a manufacturer and distributor of nutraceuticals and OTC vitamins and supplements in Australia and New Zealand, from Primary Health Care for A$560 million ($546 million). Symbion Consumer, which is a unit of Symbion Health, had sales of A$190 million last year and Sanofi-Aventis expects to complete the acquisition on August 31st. The acquisition should offer a platform for Sanofi-Aventis to launch a neutraceutical offering throughout the Asia/Pacific region, the company said. The sale of the consumer business will allow Primary to integrate itself further with the rest of Symbion Health, which it acquired in February for A$4.10 per share after nearly a year and a half-long bidding war between itself andHealthscope, Dr Edmund Bateman, Primary's managing director, said.