Comvita, which makes natural health products derived from honeybees, bought a 50 per cent share in the Cambridge company last year to secure the intellectual property for manufacturing wound dressings infused with high UMF manuka honey.
One of Api-Med's UK customers recently received the European CE mark certification for its wound dressing products that will allow manuka honey dressings to be marketed directly to hospitals and clinics.The company is also scheduled to start clinical trials in New Zealand this month.
"The purchase of the remaining 50 per cent of the company is a practical move that allows Comvita to add value to the company through entering new ethical medical markets where New Zealand's indigenous manuka honey has been embraced as a leading edge method of treating wounds and serious ulcers," said Comvita chairman Bill Bracks.
Comvita's chief executive Graeme Boyd says the use of honey products in medical situations such as wound dressings add value to a natural resource and offer huge growth potential in international markets.
"We have long recognised there is solid revenue potential in the medical area for natural products companies that have strong research capabilities. We have been steadily working toward that goal of entering that market."
Comvita is aiming to become a leading player in wellness products.