HEALTHCARE
What Ascendis plans for its European campaign
Ascendis Health is eyeing bolt-on acquisitions in Central and Eastern Europe in 2018 to boost its business. In SA, the group said, it would target the fast-growing health and care industry, which still offered opportunities for growth. The healthcare group bought a number of companies in countries such as Cyprus that lifted its revenue for the year to June. CEO Karsten Wellner said that the group’s acquisition strategy would focus on higher-growth economies in Europe. Ascendis reported a 64% jump in revenue to R6.4bn on Tuesday, with acquisitions contributing R2.3bn. The company had acquired pharmaceutical manufacturer Remedica Holdings in Cyprus and European sports nutrition business Scitec as well as Sun Wave Pharma in Romania, an over-the-counter medicine and food supplements business. Wellner said that the acquisitions were game changing as 60% of earnings was now generated outside SA. Locally, Ascendis had acquired the Southern African animal health operations of Cipla India in...
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