Sector News

ConvaTec buys US catheter distributor J&R Medical

March 5, 2018
Life sciences

ConvaTec Group PLC said Friday it acquired US-based catheter supplies distributor J&R Medical LLC for an undisclosed sum.

ConvaTec – a FTSE 250-listed medical technology firm – said J&R will join its Home Distribution unit. In 2017, J&R generated USD9.0 million in revenue. Over the same period, ConvaTec generated USD164.0 million pretax profit on revenue of USD1.76 billion.

ConvaTec also announced it had sold its respiratory delivery business in US states Arizona and Utah. Financial details of these divestments were also not disclosed.

The combination of both the acquisition and sales will be positive to revenue and earnings before interest, taxes, depreciation and amortisation, Convatec explained.

“The addition of J&R Medical to our Home Distribution Group will strengthen our presence in a substantial and important US market,” ConvaTec Chief Executive Officer Paul Moraviec said. “The acquisition also reinforces ConvaTec’s position as a leading distributor of urinary catheters in the US.”

Shares in ConvaTec were 0.3% lower at 205.10 pence in early trading Friday.

By Ahren Lester

Source: Alliance News via Interactive Investor

comments closed

Related News

December 3, 2023

FDA names chief scientist Bumpus as Woodcock’s successor

Life sciences

The Food and Drug Administration’s top scientist Namandjé Bumpus will assume the role of principal deputy commissioner when longtime agency leader Janet Woodcock retires from that role in early 2024, according to an announcement Thursday.

December 3, 2023

AbbVie to buy cancer drug maker ImmunoGen for $10.1 Billion

Life sciences

US biopharma AbbVie has agreed to acquire ImmunoGen in a deal which values the company at about $10.1 billion and gives AbbVie access to flagship cancer therapy Elahere (mirvetuximab soravtansine-gynx), a first-in-class antibody-drug conjugate (ADC) approved for platinum-resistant ovarian cancer (PROC), as well as a pipeline of promising next-generation ADCs.

December 3, 2023

EuroAPI appoints new Executive Committee members

Life sciences

EUROAPI today announced the appointment of David Seignolle as Chief Operating Officer, succeeding Eric Berger, and Marion Santin as Chief Legal, Compliance, and IP Officer, both joining the company’s Executive Committee. In his new role, David Seignolle will lead the transformation of the Industrial Operations organization.

How can we help you?

We're easy to reach