Austofix chief executive officer Mark Szolga said the company was delighted with the sale.

In addition to the immediate boost to revenue, I believe the contract reflects the growing acceptance of our products within the public hospital sector.

Both the quality of our products and our commercial pricing are gaining traction in the public system as it seeks to address spiraling health care costs.

Szolga said the sale capped off a satisfying period for the company. So far this year we have signed distribution agreements in Greece, Brasil and Turkey, and achieved immediate success with sales in Greece and Turkey. Now we have had the best possible vote of confidence from a major public hospital in Australia.

The products sold under this contract are specifically designed to fix osteoporotic* fractures of the leg, hip, shoulder and wrist. Our research and development efforts continue to be concentrated on products to provide a wide range of solutions for orthopaedic surgeons.

We are heavily focused on the design, manufacture and marketing of orthopaedic implants and associated instruments that minimize invasive surgery and maximize the potential for a full recovery by the patient. This is particularly important in the treatment of osteoporotic fractures Szolga added.