Scapa Group in £29m wound care deal as profits slip

Heejae Chae

TECHNICAL tape specialist Scapa Group has bought a  wound care products business for up to £29m as it sees continued growth in the healthcare sector, although overall profits have slipped.

The  acquisition of New York-based EuroMed will see the Ashton-under Lyne based business make an initial cash payment of £24m, with a contingent deferred payment of up to £5m depending on performance.

EuroMed had sales of around £12.5m last year and Scapa said the acquisition is expected to be earnings enhancing in the... For the full story register now for free or login below...