Fresenius Kabi is expanding its market presence in Australia

Fresenius Kabi and the Australian pharmaceutical company Pharmatel Pty Ltd. have formed a joint venture to market infusion and nutrition therapy products in Australia. Fresenius Kabi holds a 25.1 % and Pharmatel a 74.9 % stake in the joint venture. Fresenius Kabi will increase its stake to 50.1 % until 2006. The new company, Pharmatel Fresenius Kabi Pty Ltd., was launched September 1, 2004 and sells products of Fresenius Kabi and of Pharmatel.
Pharmatel Pty Ltd., headquartered in Sydney, has a leading market position in Australia in the field of oncology compounding. It also specializes in gastrointestinal therapies including bowel lavage products for bowel cleansing prior to colonoscopy or surgery. The company had sales of approx. € 18 million in 2003 and employs 65 people. The current management team of Pharmatel will continue to hold executive positions within the joint venture.

"The joint venture with Pharmatel is a further step of our strategy to expand into growth markets. Its compounding facilities in Sydney and Melbourne are a perfect platform for Fresenius Kabi to enter the parenteral nutrition compounding market in Australia. Pharmatel has excellent relationships with hospitals, high local awareness and a very good reputation for customer service. It is our goal to become one of the leading hospital suppliers in Australia", Mats Henriksson, Member of the Management Board of Fresenius Kabi and responsible for the Region Asia Pacific, commented.

"By partnering with Fresenius Kabi, Pharmatel strengthens its middle and long term position in the Australian market", Pharmatel Chairman and Managing Director George Shortis said.