Paragon Care Ltd. said it acquired Insight Surgical, a supplier of ophthalmic products in Australia, for A$5 million.
Paragon will also make additional payments based on Insight's performance in the 2018 financial year.
Paragon also purchased a third-party medical engineering company, Medtech Solutions, for A$2.4 million.
The company expects the acquisitions to contribute towards its earnings in the 2018 financial year.
The two new acquisitions along with the company's acquisition of blood banking business from CSL Ltd., will be funded via existing banking facilities and cash reserves.