• The Growth Fund acquired a substantial shareholding in September 2014
  • Obex is a leading medical device distributor in New Zealand
  • Focus on organic growth and the acquisition of new agencies and businesses in New Zealand and Australia

The Obex Medical journey

In 2014, a longtime associate of Obex’s founders, David Radford, approached The Growth Fund with a proposal to use Obex, New Zealand’s leading medical devices distributor, as a platform to consolidate the medical devices industry. David knew that the founders were seeking a succession planning solution.

The transaction was an MBI, facilitating a liquidity event for the founders of Obex and providing access to strategic capital for the business to pursue organic and acquisitive growth opportunities. David joined the Obex management team, led by Pieter Wijnhoud in New Zealand, to drive the consolidation.

Education drives device adoption

The business supplies a range of over 8,000 products to medical professionals on behalf of over 60 predominantly international manufacturers, ranging from small surgical consumables to implantable devices. To the device manufacturers, Obex is a key partner – acting as a technical sales force and market educator, as well as a product distribution platform.

Key to success has been a focus on technical expertise, innovation and clinical education. Supported by its unique network of medical opinion leaders, Obex keeps abreast of the latest international innovations, techniques and products available.

Devising a growth plan

Growth opportunities for Obex in the medical device sector are attractive, with strong underlying healthcare market demand. This is supplemented by the opportunity to add new agency agreements which extend the Obex product offering and enhance the relationships with the core hospital customer base while maintaining an innovative focus, which has been the bedrock of the business’s success to date.

In addition, Obex is seeking and executing strategic acquisitions in Australia and New Zealand to complement and grow the business’s product and service offering into new geographies and markets.