Novolog acquires control of AML – the capital market

Health Services Group

Novolog
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Acquires control of AML (American Medical for Bortoris) for NIS 20.6 million. The company will hold 75% of AML, which is the largest private medical laboratory in Israel, after the transaction. The acquisition will be financed from Novolog’s own sources and the completion of the transaction is subject to approval by the Competition Authority.

Under the purchase agreement, Novolog will be granted a CALL option and the sellers a PUT option to purchase the remaining shares. Each of the options will be exercisable for a specified period beginning after three years from the date of the transaction.

The acquired AML provides laboratory services to Israeli medical institutions and private patients. In addition, the company provides concentrated and comprehensive laboratory services for medical research purposes to the medical and biotechnology industries in Israel and abroad and performs laboratory tests for clinical trials.

Novolog says that “the field of medical laboratories is in an accelerated growth trend and is an essential tool in the world of medicine for the diagnosis, treatment and prevention of diseases.” According to the company, the acquisition will expand the basket of services in its health division.

Eiran Taos, CEO of Novolog, said: “This acquisition is another milestone in realizing the company’s strategy to strengthen its position as a leader in the world of health care while expanding the basket of services for end customers, insurance companies and ‘home medicine’ customers. We intend to work for the continued growth of AML through the expansion of services and additional collaborations while exploiting the synergy between the activities. ”

Novolog was established in 1966 and currently employs about 650 people and operates within three divisions: logistics (access to complementary logistics services in the field of pharmaceuticals, medical equipment and clinical trials), health services (access to medical services at the patient’s home) and digital (access to information and online medical services).