January 25, 2023
Prestige Ameritech Acquires Anexa Biomedical
Acquisition expands Prestige’s offerings to include sterile water and sterile saline, two products historically prone to shortages.
Transaction funded in part by previous investments from Premier, Inc. and 16 leading, national health systems.
North Richland Hills TX. — Prestige Ameritech (Prestige), one of the country’s largest manufacturers of personal protective equipment (PPE), today announced the acquisition of Anexa Biomedical.
Anexa is a domestic manufacturer of sterile water and sterile saline products, which are used daily in acute-care hospitals to treat respiratory illnesses such as COVID-19 and influenza, as well as reconstitute medications and flush intravenous lines. In a typical facility, hundreds of units of sterile water and sterile saline are used daily. Given high demand historically, sterile water and sterile saline have been prone to shortages, rolling on and off the U.S. Food and Drug Administration’s drug shortage list for more than five years.
“We are actively looking to grow our business by expanding into categories in need of a reliable domestic production option to prevent shortages,” said Dan Reese, Prestige co-founder and CEO. “As the COVID-19 pandemic proved, diverse and on-shore manufacturing of critical healthcare products is a national security issue. With these categories, we will seek long-term, multi-year commitments that give us certainty and allow us to dedicate our resources to increase production to address shortages of critical supply items.”
The acquisition is made possible in part by previous investments and multi-year purchasing commitments, as previously announced, from Premier, Inc., a leading healthcare improvement and technology company, and 16 of its member health systems.
“We are proud to support Prestige’s expansion and mission to serve as a reliable domestic source for essential medical supplies,” said Andy Brailo, Premier, Inc.’s Chief Customer Officer. “The sterile water and sterile saline market is volatile, and we are confident that Prestige has the track record and skill sets needed to scale U.S. production to ensure a more reliable and resilient supply for healthcare providers.”
Prestige relocated the Anexa production equipment to Prestige’s main facility in North Richland Hills, Texas. Anexa’s prior owner is remaining with Prestige as a consultant to guarantee a smooth transition. Prestige also added two seasoned industry experts as consultants to successfully launch the new categories.