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Derma Sciences acquires 7.3 percent of Comvita

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Princeton-based advanced wound care company Derma Sciences announced Wednesday it has purchased 2.3 million newly issued common shares of New Zealand-based health and beauty company Comvita Limited for $7 million. The investment amounts to 7.3 percent of outstanding Comvita shares.

According to the announcement, the proceeds will support Comvita's apiary acquisition and harvest modernization strategy to ensure sufficient supply of medical grade honey to meet the growing demand for Derma Sciences' Medihoney product line.

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