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SSL lands on its feet
Consumer healthcare company SSL International has agreed to buy Orthaheel, a manufacturer and distributor of healthcare products to the consumer markets.
The deal was agreed for an initial AUS$32.9 million (£14.57 million) cash payment, with the value of the deal rising to a maximum of AUS$74.9 million (£32.19 million) if sale targets are achieved in the next three years.
SSL is buying Orthaheel, which specialises in treating foot alignments, is buying to complement its existing footcare range that includes the Scholl brand. The Orthaheel business is based around a range of orthotic insoles designed and marketed by podiatrist, Phillip Vasyli.
SSL’s chief executive, Garry Watts, said: “Phil Vasyli has created a very interesting business based around state of the art orthotics. His expertise combined with the Scholl brand and distribution network in Europe and Asia offers an exciting prospect for further growth.”
Orthaheel’s brands include Orthastyle, Vasyli and Vas.
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