Cheshire wound specialist is bought by US giant

Cheshire firm Crawford Healthcare has been sold to the world’s largest wound care firm for an undisclosed amount.

American firm Acelity has bought the Knutsford business which specialises in advanced wound care and dermatology treatments.

Chief executive Richard Anderson and Zeus Capital founder Richard Hughes invested in Crawford in 2009 when the business was struggling in the financial crisis.

Since then the business has enjoyed a remarkable turnaround in fortunes.

With the acquisition of Crawford, Acelity has expanded its portfolio of advanced wound dressings (AWD) strengthening its position as the global leader in advanced wound healing.

Crawford Healthcare is a recognised leader in developing and commercialising innovative for the care and repair of skin.

Crawford’s wound dressing portfolio includes the market-leading superabsorbent KerraMax Care range and KerraFoam.

This expanded line of advanced wound dressings combined with Acelity’s industry-leading wound therapy platforms forms the world’s most expansive wound care portfolio.

Acelity will also acquire Crawford’s innovative research and capabilities and manufacturing operations based in Cheshire.

R Andrew Eckert, president and chief executive of Acelity said: “Crawford’s talented team, highly complementary line of advanced wound dressings, and track record of patient-focused innovation make them a terrific partner to accelerate our global growth.

“This transaction solidifies our ability to offer the most comprehensive line of wound care solutions and will enable us to create and consolidate leading positions in high-growth market segments; expand and strengthen our customer relationships; and enhance our innovation expertise for the benefit of clinicians and patients around the world.”

Richard Anderson, chief executive of Crawford Healthcare, said: “The rapid growth of the business has been possible due to our focused investment in innovative products which are clinically proven to improve patient outcomes.

“Becoming part of the world’s largest wound care company will provide us with the scale to optimise our potential within the US, the largest global market and the ability to further access and grow in other international markets with our best-in-class advanced wound care products.”

Richard Anderson will continue to lead the Crawford organisation and its products will remain fully available to clinicians and customers as the two companies work together to form integration plans for the remainder of the year.

Christian Mayo, Ben Taylor and Ed Crocker from the corporate finance team at KPMG advised Crawford Healthcare on the transaction.

Corporate Partner Jonathan Watkins led the DLA Piper team advising Crawford Healthcare and was assisted by Associate James Petts and Trainee Associate Abby Walton.

Richard Hughes is the founder of independent investment bank Zeus Capital.

The Manchester firm raises more  than £1bn per year for UK companies, and has been involved in the high-profile flotations of Purplebricks, JTC, OnTheMarket and BCA Marketplace in recent years.