Ebos buys PRNZ

Medical supplies company Ebos Group announced yesterday it has bought privately owned wholesale pharmaceutical supplier PRNZ for $86.3 million.

The acquisition would boost Ebos' turnover by around 270 per cent to near $1.1 billion and pre-tax earnings by almost 50 per cent, the company said.

Ebos said it would fund the purchase by $43 million debt from the ANZ Bank and $43 million through a placement of shares.

Ebos also announced a net profit for the year of $10.3 million, down nearly 11 per cent on a year earlier.

Adjusting for variables, the company said its result would have been $11.693 million, a 9.4 per cent gain over last year's result.