Ebos takes stake in Australian medi-software firm MedAdvisor

The 14% stake cost $A10.5 million.

Ebos Group has branched out into medical software buying a 14 percent stake in Australia's MedAdvisor business for A$10.5 million.

Christchurch-based Ebos said the investment was part of a wider partnership with the software company, whose system has more than 900,000 users and connects some 2,600 Australian pharmacies.

"Ebos's investment is part of a wider partnership with MedAdvisor that will seek to advance the commercial interests of both organisations by increasing the availability of digital health applications across Ebos's community pharmacy and institutional healthcare businesses," the company said in a statement.

The healthcare and animal products maker has been expanding its pharmacy footprint, buying Australia's largest provider of outsourced pharmacy services to hospitals, HPS, for A$154 million, in May. Last year, it bought a majority stake in Terry White Group, merging that business with its Chemmart unit to create one of Australia's largest chains of pharmacies.

Ebos shares slipped 0.2 percent to $17.86, having gained 7.2 percent so far this year.

(BusinessDesk)