DIMO enters pharma biz with Rs. 225 m acquisition

Friday, 30 September 2022 00:25 - - {{hitsCtrl.values.hits}}

Buys 75% stakes each in Mansel and Associated Laboratories

DIMO PLC has invested Rs. 225 million to expand its pharma business via strategic acquisitions.

It has bought 75% stake each in Mansel (Ceylon) Ltd., and related party Associated Laboratories Ltd., which are engaged in the business of importation, sale and distribution of pharmaceutical products. Mansel was established in February 1964 by three friends named Cyril J. Goonetilleke, Arthur J. Edwards and A. ‘Chuck’ Wijenathen. Existing owners will hold the 25% stake.

The company holds number of reputed agencies with pharmaceuticals for Antihistamine, Neurology, Cardiovascular, Respiratory, Gastro – Intestinal, Obstetrics and Gynaecology, Vitaminology, Dermatology, Haematology, Oncology, Diabetics and deals with antibiotics and antiviral

DIMO share price yesterday gained by Rs. 11.50 or 2% to close at Rs. 600.75.

The company is currently engaged in the sale and after-care of medical equipment. It is the market leader in the ophthalmic and non-ophthalmic microscope representing Carl Zeiss Meditech AG

DIMO has interests in agriculture, engineering solutions, infrastructure engineering, building services, power and energy, fluid and water projects, chemical solutions, tools and equipment, lifestyle products, education, information technology to mobility solutions.