Medical Developments International Limited is delighted to announce that it has signed an agreement to acquire the respiratory business of Avita Medical Limited (ASX: AVH). Avita’s respiratory business includes the Breath-A-Tech branded range of products, which is the leading brand of asthma space chambers in the Australian pharmacy and hospital markets.

The total consideration is circa $2.64m comprising $2.2m cash plus (at MVP’s option) either 125,000 new MVP shares escrowed for 6 months (adjusted based on the 5-day VWAP prior to completion) or $0.44m of cash.