Sigma Pharmaceuticals is buying another medical product wholesaler and distributor for $24.5 million.

Sigma Pharmaceuticals is buying medical wholesaler and distributor Central Healthcare for $24.5 million.

Central Healthcare provides pharmaceuticals to hospitals and pharmacies in Victoria, NSW, Queensland and the ACT.

It also owns and manages the Pharmasave retail brand.

Sigma, also a pharmaceuticals distributor, and owner of the Amcal, Amcal Max, and Guardian pharmacy brands, said the deal had been approved by the Australian Competition and Consumer Commission.

Central Healthcare, which has annual sales revenue of more than $200 million and is expected to generate annual earnings of about $3.5 million, will continue to operate as a standalone business after the acquisition.