Biotechnology has played a dynamic role in helping to overcome healthcare challenges. Its flexibility to reduce global health differences through the provision of promising technologies has brought various benefits to healthcare. Biotechnology has provided modern diagnostic and preventive medical devices.
Generex Biotechnology is an integrated healthcare company that offers end-to-end patient-centric care solutions. It offers customized therapies by quick diagnosis. As a new type of healthcare company, Generex extends beyond traditional support models for doctors in the MSO network. This helps to improve patient experience and provides access to optimal care in ongoing relationships with patients. The company develops a legacy portfolio of immune-oncology, medical equipment, and diagnostics. The company also focuses continues to work on its acquisition strategies.
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Generex Biotechnology Corporation announced that the company had acquired Medisource Partners in an LOI. Medisource Partners is a registered FDA distributor of medical and surgical products. It includes bone grafts and biologics from a variety of manufacturers of surgical products.
Joe Moscato, CEO of Generex states, “The strategic acquisition of Medisource Partners provides Generex with a value-added service model that fits the corporate mission of NuGenerex Distribution Solutions, adding immediate revenues and profits while providing significant upside as we integrate the medical and surgical supply business into our current and future MSO networks."
Under the terms of the agreement, Generex acquires all of MediaSource’s assets, including business transactions, accounts receivable and inventory, contracts, and property. This is done on a debt-free basis with a share of $1 million from Generex, additional cash, and by considering certain stocks.
The wide range of surgical and biological products offered in the Medisource catalog will allow Generex to expand its range to include hospital systems and its MSO partners. With the acquisition, the management services will provide better pricing and access to newer and advanced products.
Biotechnology makes a significant contribution to the growing needs of public health. Since its existence, it has revolutionized mankind. Health, quality of life, and life expectancy have been increased worldwide through biotechnology services, and Generex is one of the leading providers offering advanced capabilities in the industry to help deliver a better quality of care.