Healthium announced the successful acquisition of the AbGel gelatin sponge business from Mumbai-based Shri SGK Labs, adding to its product portfolio focused on surgical and post-surgical care. Earlier this financial year, the Company had acquired VitalCare Group in U.K to grow its urology portfolio and expand its market in Europe and the U.S.
Healthium’s product portfolio includes surgical sutures, needles, a patented arthroscopy portfolio, a urology portfolio, hernia meshes, haemostats, gloves, ligation clips, surgical staplers and other wound closure devices. The Company holds or has applied for 60 patents in India and U.S. Its manufacturing facility at Bangalore is registered with US FDA since 2004.
AbGel is a recognized brand in the gelatin sponge category and has been used in India since 1980. Healthium aims to further expand the market access of this portfolio using its wide network of hospitals across India.
AbGel is an absorbable gelatin sponge, manufactured from highly purified neutral gelatin with haemostatic capabilities and is designed to control blood oozing in instances of haemorrhage from multiple small vessels, and is completely absorbed in 4 to 5 weeks with no residue or encapsulation. It is non-toxic, non-allergic, non-immunogenic and non-pyrogenic.
Surgeries may lead to substantial bleeding intra-operatively causing increased morbidity and mortality. AbGel is beneficial in effectively managing this across a wide variety of specialities including abdominal surgery, neurosurgery, gynaecological surgery, ENT surgery, dental surgery and oncosurgery.
Speaking on the acquisition Anish Bafna, CEO and MD, Healthium Medtech, said, “Hemostasis during surgical procedures is an area of concern for surgeons. We are excited to add a brand like AbGel that is a recognized brand in gelatin sponge category and has been contributing to safer surgeries for over 4 decades. This acquisition strengthens our presence in the category and our commitment to drive value for our customers. We look forward to combining Healthium’s R&D and manufacturing capabilities with the talent and expertise brought by AbGel’s team as we expand access to precision medtech for patients, globally.”
Viral Parekh, Director, SGK Labs added, “We are excited to find the right partner in Healthium to take AbGel to the next level. We are confident that with Healthium’s wide distribution network and the additional support from its direct sales force, AbGel will successfully reach, touch and benefit many more lives”.