Suari in advanced negotiations to acquire Tzamal Medical at a valuation of 300 million shekels
The holding company Allied is in advanced negotiations to acquire control of Tzamal Medical from its founder, Yehoshua Katz. The deal values the company at approximately 300 million shekels.
The holding company Allied is in advanced negotiations to acquire control of Tzamal Medical from its founder, Yehoshua Katz. Calcalist has learned that the company's valuation in the deal, if it matures, will stand at approximately 300 million shekels.
The Tzamal Medical group from Petah Tikva deals mainly in the import and marketing of medical equipment and pharmaceuticals. The company's revenues are estimated at 300 million shekels per year, and its EBITDA is estimated at 40 million shekels. The owner, Katz, is approaching the age of 80 and decided to sell control to a holding company rather than to a fund that is obligated to sell after a few years.
Allied, managed in trust by Prof. Yitzhak Suari — alongside his son Gary, who is designated for the position in the future — is one of the largest holding companies in the country. Its funds are a trust established in 1965 by the businessman Aaron Gutwirth. The structure was intended to prevent inheritance struggles and maintain the integrity of the capital over generations while under professional management.
A board of trustees headed by Suari manages the group's assets. It owns Champion Motors, the importer of Volkswagen, Audi, Skoda, and Seat vehicles in Israel, and also Shlomo Motors, the importer of the electric vehicle BYD. In addition, the company has significant real estate activity through Allied Real Estate, logistics activity through Maman and UPS, and infrastructure and renewable energy activity through a desalination plant in Hadera and the Carmel Tunnels.
Now the company wants to enter the field of pharmaceuticals and medical equipment. Tzamal, whose sales are to HMOs and hospitals, has three activities:
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Tzamal Jacobson — disposable equipment and medical equipment for operating rooms and emergency situations.
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Tzamal Bio Pharma — import and marketing of ethical drugs.
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Tzamal Di-Chem — supply of products for clinical laboratories.
The company is managed by Asaf Katz, the son of the founder who established the company in 1972. The drugs it imports are mainly in the fields of oncology, hematology, gynecology, cardiology, and anti-infective preparations. The medical equipment marketed by the company is in the fields of cardiology, general and minimally invasive surgery, orthopedics, neurosurgery, and ophthalmology.
Until the end of the last millennium, Tzamal operated as the marketing and distribution arm of the global medical equipment giant Johnson & Johnson. When it decided to move to an independent distribution model, Tzamal was forced to reinvent itself and began importing innovative medical equipment technologies. Tzamal employs about 100 workers and also holds an investment arm that invests in medical technology startups. No response was received from Tzamal and Allied.
