MVP acquires Avita Medical’s Australian Respiratory Business

Medical Developments International Limited is delighted to announce that it has signed an agreement to acquire the respiratory business of Avita Medical Limited (ASX: AVH). Avita’s respiratory business includes the Breath-A-Tech branded range of products, which is the leading brand of asthma space chambers in the Australian pharmacy and hospital markets.

The total consideration is circa $2.64m comprising $2.2m cash plus (at MVP’s option) either 125,000 new MVP shares escrowed for 6 months (adjusted based on the 5-day VWAP prior to completion) or $0.44m of cash.