Cape Town - In a press release on Tuesday, Coast 2 Coast Investments announced that its wholly owned health and care subsidiary Ascendis Health has through its subsidiary Efekto Care finalised the acquisition of Avima for nearly R80m.
This is the third acquisition within eight months for the health and care company, which acquired Efekto Care and Sportron for a combined R260m in October 2011.
It holds strategic advantages for Ascendis Health as it opens up new sales channels into Africa for the Efekto subsidiary.
"We believe that Avima will be a great addition to our portfolio," said Ascendis Health CEO Dr Karsten Wellner.
"The combined Avima and Efekto businesses will achieve synergies from a product, channel and backwards-integration perspective, as well as open previously unnavigated sales channels for both brands."