PRINCETON, N.J.--(BUSINESS WIRE)--Derma Sciences (OTCBB: DSCI), a manufacturer and marketer of advanced wound care products, today announced the acquisition of the first aid division of privately held NutraMax. NutraMax, located in Gloucester, Massachusetts, is a manufacturer/marketer of a variety of health related products. The First Aid Division being acquired by Derma Sciences generates approximately $17 million in annual revenues and holds a number two market share position in private label adhesive strip sales. The acquisition is expected to result in Derma Sciences’ annual revenues topping $50 million and will significantly enhance the Company’s growing base of manufacturing in the wound care field. Speaking of the acquisition, Edward J. Quilty, President and CEO, said, “This is a very significant step in the evolution of Derma Sciences. Our two pronged strategy is aimed at reaching $100 million in revenues by 2010. This acquisition gets us halfway there and is expected to add more than $3.5 million in cash flow. It also fits with our strategy of continuing to build our private label business, which currently comprises approximately 35% of revenue and we project will grow by approximately 33% in 2008, not including the contribution of the NutraMax first aid division.”
