Slade Pharmacy Services has entered into agreements with Fresenius Kabi to purchase its Oncology Compounding Business in Australia.
This includes all the TGA-licenced compounding facilities in Queensland, NSW and Victoria. Slade says it intends to retain the staff currently employed at the facilities.
Slade currently operates a TGA-licenced manufacturing facility in Victoria and services both public and private hospitals nationally with chemotherapy, sterile analgesics and like products.
As part of the acquisition Slade will also exclusively manufacture compounded parenteral nutrition products for Fresenius Kabi Australia.
The closing of this transaction is anticipated in the last quarter of 2015. There is set to be a transition period and hand over to Slade which the company says will ensure continuous high quality supply and no disruption to patients’ treatments.
According to Slade managing director, David Slade, the acquisition increases Slade’s presence in the sterile TGA compounding market across the east coast, giving it access to new markets in NSW and Queensland.
“This venture builds on the strengths of both businesses,” Slade says.
“Fresenius Kabi has built a fantastic business across Australia, with great people, facilities and significant customer relationships.
“The acquisition will expand our product range and bring our compounding services closer to our customers in New South Wales and Queensland to ensure the continued supply of critical medications to patients across Australia.”
In particular Slade’s business in Queensland will experience substantial growth post acquisition as a consequence of Slade Health joining at completion the Icon Consolidated Holdings Group of companies, the company says.
This will occur as part of a broader arrangement that will bring together the procurement and back of house activities supporting Icon Cancer Care, Epic Pharmacies and the Slade Group.
David and Graham Slade will continue to independently own and operate all existing Slade Pharmacy businesses post completion.