EBOS Group (ASX:EBO) hikes stake in medical device distributor Transmedic

EBOS Group increased its stake in medical device distributor Transmedic to 90% from 51%, solidifying its position as a major shareholder and aligns with EBOS' growth strategy in Southeast Asia.

EBOS acquired its original 51% stake in Transmedic as part of buying LifeHealthcare in May 2022 and has now purchased an additional 39% for approximately S$119 million ($135 million).

TS Lee, Transmedic's major shareholder and chairman, will retain a 10% stake and continue as chairman for an additional two years.

EBOS can move to 100% ownership at the end of this period.