Mentor and Coloplast agree urology and healthcare sale

Coloplast, the healthcare product provider, is to purchase the urology and clinical and consumer healthcare business segments from the Mentor Corporation in a deal worth $463 million.

Commenting on the deal, Joshua H Levine, the president and the chief executive at Menter, said that the firm believes “this transaction will enable us to enhance shareholder value and focus more fully on expanding our global position in the fast-growing field of aesthetic medicine”. He also added that the sale should be completed “soon”.

It is thought the deal will be concluded by the end of June. However, this date is dependent on regulatory clearance.

Sten Scheibye, chief executive officer at Coloplast, said that Mentor’s acceptance of the offer is an “important milestone” in the transaction. He also added that Coloplast is also “excited about the prospects for creating value to customers, employees in both organisations and investors alike”.

Coloplast was originally founded in 1957 and is listed on the Copenhagen stock exchange. It develops, markets and sells a range of products and services covering ostomy, continence care, breast care and skin care. Earlier this month, the Coloplast also announced that its operating profit had risen by 39 per cent during its first two quarters.

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