ConvaTec completes acquisition of Unomedical

ConvaTec has announced the completion of its transaction to acquire Unomedical.

It has bought the Copenhagen-based single-use medical device manufacturer and will integrate it into its business to create a firm with an expanded global footprint with sales in the region of $1.6 billion (862 million pounds).

The combined firm will retain the ConvaTec name and have four business divisions: ostomoy care, wound therapeutics, continence & critical care and infusion devices.

The infusion devices segment will continue to operate separately, while the integration will not include the wound care division of Unomedical due to European Competition Commission regulations, with this unit being divested shortly.

David Johnson, chief executive officer of ConvaTec, said: “This is a tremendous day for our customers, our employees and our business.”

He added the combination of both companies would allow them to build upon the strengths of one another to offer an unprecedented product portfolio offering a comprehensive range of superior solutions.

ConvaTec currently has 3,500 employees in 91 countries worldwide, while Unomedical has around 4,500 staff in 14 countries.

Last month, Bristol-Myers Squibb reported that Nordic Capital Fund VII and Avista Capital Partners had bought ConvaTec from the firm.

In August 2007, Merck Serono announced its new formulation of Rebif had been granted marketing authorisation as a treatment for relapsing multiple sclerosis in the European Union.