On April 8, Alton medical equipment and parts maker Altona Pharmaceuticals sold its US$5.8 billion (US$4.5 billion) acquisition of Alton Instruments, the first major deal in Argentina’s $15 trillion healthcare sector.
Altona was founded in 2013 by Carlos Alton, the father of the pharmaceutical industry.
It has been acquired by the United States-based drugmaker Medimmune Inc. and has been renamed Alton Pharmaceuticals.
Its assets are in the US, but Alton is based in Argentina.
It was the only company to win a patent on a blood pressure cuff, a drug for which it had a patent until 2012.
In Argentina, the government has invested in healthcare and medical equipment manufacturers to help it meet growing demand from the country’s poor.
In 2015, for example, the country signed a $100 billion ($86 billion) deal to provide health care services to poor households.
In the years that followed, AlTONa acquired several healthcare and pharmaceutical companies.
In December 2018, Altons pharmaceutical arm, Cogent Medical Instruments, said it was buying the company for $1.6 billion ($939 million) to further develop and market its drugs.
AlTONa’s medical equipment has been sold for a total of US$3.8 million.
Altons medical equipment is used in hospitals around the world.
In 2017, it was sold to the British pharmaceutical company AstraZeneca for a reported $4.2 billion.
In 2018, it went to Astra Zeneca for $5.3 billion.
In September, Alons medical equipment maker Altons Medical Instruments also announced a deal with US-based biotech firm Medimmune to acquire its remaining US$4 billion in assets, including its pharmaceutical division.
The deal will create a global network of medical equipment distributors.
In 2020, Medimmune will buy out Alton.
Altena is also planning to launch a line of medicines in Argentina in 2021.
The company said the company would release a product with a novel type of antibiotic for use in developing countries.
The drug, called Medi-Pro, was to be made in the United Kingdom.