Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Comvita Takes Remaining 50% Of Api-Med

Comvita Takes Remaining 50% Of Medical Honey Company Api-Med

AX-listed natural health products company Comvita announced today it has bought all the remaining shares in Cambridge-based Api-Med Medical Honey Limited.

One of Api-Med's UK customers recently received the European CE mark certification for its wound dressing products that will allow manuka honey dressings to be marketed directly to hospitals and clinics.

Comvita Chairman Bill Bracks in announcing full acquisition of Api-Med Honey Limited says the original 50% shareholding purchased in September was largely undertaken to secure the intellectual property for manufacturing wound dressings that are infused with high UMF manuka honey.

"The purchase of the remaining 50% of the company is a practical move that allows Comvita to add value to the company through entering new ethical medical markets where New Zealand's indigenous manuka honey has been embraced as a leading edge method of treating wounds and serious ulcers. It is a major step for the company by taking a position at the medical end of the health continuum.

Comvita's chief executive Graeme Boyd says the use of honey products in medical situations opens exciting new market potential for Comvita and New Zealand plus opening new economic opportunities for beekeepers and landowners.

Boyd says uses such as wound dressings add value to a natural resource and offer huge growth potential in international markets.

Api-Med is involved in clinical trials with the Auckland University's Clinical Trials Unit beginning in January.

Graeme Boyd says there is a large body of research now available on the antibacterial activity of manuka honey and of its rapid healing characteristics, spearheaded by Dr Peter Molan of Waikato University.

He says the clinical trials will provide the final level of certainty needed to take the products in to the medical field.

"We have long recognised there is solid revenue potential in the medical area for natural products companies that have strong research capabilities. We have been steadily working toward that goal of entering that market."

The Api-Med purchase is in line with the strategic focus of Comvita to be a leading player in wellness products through a genuine and resourced innovation programme. The purchase and clinical trials are part of a planned process of growth for the company.

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 




Barfoot & Thompson: Auckland Rental Prices Inch Up Again, But Upward Trend Could Ease In Coming Months

Data from nearly 16,000 rental properties managed by real estate agency Barfoot & Thompson shows Auckland’s average weekly rent rose by $6.12 (or 1 percent) during the second quarter... More>>

ComCom: Draft Report Says Regulatory System Favours Established Building Products
The Commerce Commission’s draft report into competition in the residential building supplies industry has identified two main factors negatively impacting competition... More>>

Statistics: Annual Wage Inflation Rises To 3.4 Percent
Wage inflation, measured by the labour cost index (LCI), was 3.4 percent in the year ended June 2022, while average ordinary time hourly earnings rose 6.4 percent, Stats NZ said today... More>>

ALSO:



Heartland: Retirees Facing Pressure From Higher Cost Of Living And Increasing Debt In Retirement

Heartland has seen a significant increase in Reverse Mortgages being used to repay debt. Among the most affected by the increasing living costs are retirees, many of whom are trying to get by on NZ Super alone... More>>


APEC: Region’s Growth To Slow Amid Uncertainties And Crises
Economic growth in the APEC region is expected to slow this year amid soaring inflation, a protracted war in Ukraine and heightened uncertainties, on top of the continuing impact of the pandemic and virus mutations that are draining resources, according to a new report by the APEC Policy Support Unit... More>>


Financial Markets Authority: Survey Sheds Light On New Zealanders’ Experiences With Financial Sector
Most New Zealanders are confident in their ability to make financial decisions, but only one-fifth say they are in a secure financial position... More>>