Generex Biotechnology has completed the acquisition of Medisource Partners, an FDA-registered distributor of medical and surgical products.
Under the deal, Generex will acquire all the assets of Medisource, including business operations, accounts receivable and inventory, contracts, and real estate, in an all-stock transaction that comes into force on 1 August upon completion of the company’s fiscal year.
MediSource CEO Travis Bird will continue to manage the operations of the acquired business and will join the Generex executive team that monitors sales, marketing, and distribution of surgical and biologic product lines.
Bird said: “With a broad catalogue of surgical supplies, orthopaedic implants, and a wide portfolio of biologics and Cellular and Tissue Products (CTPs), we are excited to become part of Generex and the NuGenerex family of companies as we work together to bring innovative and effective treatments, therapies, and products to the MSO network.”
Medisource is a ten-year old private company involved in the distribution of medical and surgical products, including bone grafts and biologics, from a range of surgical product manufacturers.
Presently, Medisource has contracts with more than 25 vendors for nationwide distribution of implants and devices for the spine, hips, knees, foot, ankle, hand, and wrist surgeries.
The company also distributes biologic products such as blood, bone, tissue, and stem cells, as well as durable medical equipment and soft goods.
Medisource is also a supplier of kits for the processing of bone marrow aspirates and platelet-rich plasma biologics at the time of surgery.
Generex CEO Joe Moscato said: “The strategic acquisition of Medisource Partners provides Generex with a value-added service model that fits the corporate mission of NuGenerex Distribution Solutions, adding immediate revenues and profits, while providing significant upside as we integrate the medical and surgical supply business into our current and future MSO networks.
“The synergies among our subsidiaries has already been achieved as MediSource and Olaregen are working on a distribution agreement for Excellagen wound conforming matrix through our MSO, and the companies are working on the joint development of new regenerative medicine products focused on exosomes and placenta-derived blood and tissue products.”
Generex is an integrated healthcare holding firm that provides immune-oncology assets, medical devices, and diagnostics to its customers.