ConvaTec makes £92.5m acquisition
Global medical products company ConvaTec, which has its headquarters in Deeside, is to acquire a US distributor of incontinence and catheter supplies for £92.5m.
It is to buy Woodbury Holdings, which employs around 150 staff, from MTS Health Investors.
Woodbury has national distribution across the US, delivering incontinence and catheter products, as well as nutritional, enteral feeding and vascular compression supplies, directly to customers.
With the acquisition ConvaTec Americas will create a new home distribution business unit for catheter and incontinence related products, encapsulating the US distribution companies of 180 Medical, Symbius Medical, South Shore Medical Supply, Wilmington Medical Supply and Woodbury Health Products.
Paul Moraviec, chief executive of ConvaTec, said: “The addition of Woodbury contributes to our growth strategy for the Continence & Critical Care Franchise and builds on the success of our 180 Medical business, which we acquired in 2012.
“180 Medical is the largest retailer of intermittent catheters in the US. It has a differentiated, proven business model with strong customer focus and satisfaction.
He added: “ConvaTec, 180 Medical and Woodbury share a common commitment to improving the lives of people with continence issues and a dedication to providing quality products, together with distinctive service and personal support. We look forward to working with our Woodbury colleagues to bring our comprehensive end-to-end suite of services to even more customers.”
Woodbury’s senior management team will remain with the company.
ConvaTec is a £1.3bn turnover business which entered the FTSE 100 after floating on the stock market last year. It employs 9,000 staff across eight manufacturing sites, specialises in making products for incontinence, wound therapeutics and critical care.
ConvaTec focuses on therapies for the management of chronic conditions across four areas: advanced chronic and acute wound care, ostomy care, continence and critical care, and infusion devices used in the treatment of diabetes and other conditions.
