Sutherland Health Group acquires Biston products

                                                                                                                     30 September 2013
SUTHERLAND HEALTH GROUP PLC
("Sutherland Health Group" or "the Company")
ISDX Symbol: SHGP

Sutherland Health Group acquires Biston products

The Board of Sutherland Health Group, a national supplier of personal care, patient hygiene, sexual health and gynaecology products to customers including the National Health Service ("NHS"), is pleased to announce that it has signed a sale and purchase agreement to acquire the Intellectual Property, Designs and Business Assets of Biston LLP.

Biston LLP set up by Chartered Physiotherapists Jean Bish and Sue Barton first developed the ergonomically designed Biston LITE Wheelchair Bag that enables easy handling of wheelchairs and accessories whilst reducing the risk to wheelchair handlers.

The second product that has been developed is the Biston Point of Care Kit Bag that has been designed for health professionals who deliver care in the community such as Community Nurses, Health Visitors, Midwives or Home Carers.

The terms of the agreement are as follows:-

  • A payment in cash of £18,500
  • £5000 of new ordinary SHG shares at 1.25p per share or the mid-price at the time of completion whichever is the greater.
  • An Earn-Out of 5% of total net sales of the two Biston products for a period of 24 months from completion date.

Chief Executive George Sutherland commented:” The Biston products take our Group into new sales channels within the healthcare market. Research shows that approximately 1% of the 500 million population in the European Union are wheelchair users which is consistent with the 1% of the 316 million USA population that are also wheelchair users. The Biston LITE wheelchair bag will enable easier and safer handling of wheelchairs for those looking to transport wheelchairs when travelling or when storing them.

The Biston Point of Care Kit Bag addresses the health & safety and manual handling issues for healthcare professionals working in the community who are increasingly having to carry more equipment and healthcare items with them on their visits”

Commenting on the transaction Chairman John French said "We are pleased to have the Biston products on board, further adding to our range not only to our current customer base, but also providing the opportunity to market to retail customers. In my statement following the AGM on the 24th September I referred to our having identified a number of such opportunities to expand our product base and the completion of this acquisition represents the first in our on-going strategy to expand by acquisition, companies, products, or additional distribution agreements in addition to our core growth"

The Directors of the Issuer accept responsibility for this announcement.

For further information:

John French, Chairman
Sutherland Health Group plc
E: john@sutherlandhealth.com
T: 07836 722 482

Ross Andrews
Andrew Jones
Zeus Capital Ltd
T: 0161 831 1512

Notes to Editors:
Sutherland Health Group Plc is a national supplier of personal care; patient hygiene, sexual health and diagnostic products to the UK National Health Service (NHS) and other UK customers. Its aim is to supply innovative solutions to current health issues by studying current trends and working alongside leading professionals who also work within the health sector.

The company is committed to developing and marketing high quality brands and products that will benefit health professionals and consumers alike in many areas of health. The Group has established its own brands: Condomania® Condoms; Sutherland® Patient Hygiene and Personal Care; Lubricating Jelly; and Vision® pregnancy and gynaecology diagnostics. These products have already become established within the NHS business.

The Group is ISO and MHRA registered, and at present principally manufactures and operates within the United Kingdom.

For further information on the Company visit www.sutherlandhealth.com

 

Latest news RSS

09/11/2017

Sutherland at Procurex Wales 2017

Sutherland at Procurex Wales 2017

29/06/2017

Final Results 30th September 2016

Sutherland Health Group Final Results September 2016

11/11/2016

Sutherland Attending European Midwives Conference

Sutherland Attending EMA Conference

Sign up

Subscribe

For further information, please read our Privacy Policy.