NBR Rich Lister family makes full takeover of Christchurch medical company
NBR Rich Lister-owned Savage Group has announced it has acquired all Comrad Medical Systems shares.
NBR Rich Lister-owned Savage Group has acquired all shares in Christchurch-based Comrad Medical Systems.
The investment group – owned by the Savage family – previously owned 50% of the medical software company, which has been operating in the radiology sector for over 25 years.
Comrad, founded in 1987, operates in more than 400 practices in Australia and New Zealand and powers some of the largest radiology service providers in the world.
The acquisition amount has not been disclosed but will help fuel the company’s expansion in the countries it operates.
"We take a long-term view of our investments and we like the markets Comrad is addressing,” Savage Group managing director Catherine Savage says.
Founder Andrew Scott – who owned most of the 50% share sold – will remain product director and says there are “exciting” new products ahead.
"Comrad remains focused on the delivery of outstanding functionality and ever improving customer service. In parallel, we are developing strategies that we will be introducing progressively to our partners."
Savage Group also owns industrial kitchen equipment provider Safco – which kits out the likes of the Restaurant Brands-owned chains and Subway – and cleaning products business Waiwhetu Distributors, the largest supplier of janitorial and cleaning equipment in New Zealand.
Savage Group patriarch Roy Savage originally made his fortune through industrial technology, including workplace safety equipment.
Calida Smylie
Wed, 20 May 2015
Wed, 20 May 2015
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NBR Rich Lister family makes full takeover of Christchurch medical company
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