ConvaTec buys catheter business Woodbury in $120.5m deal
Medical tech firm ConvaTec Group has struck a huge $120.5m (£92.5m) deal to buy catheter business Woodbury Holdings.
The independent listed US firm was previously owned by MTS Health Investors.
It provides an array of nutritional, enteral feeding and vascular compression supplies, and distributes incontinence and catheter-related supplies nationally.
ConvaTec chief executive Paul Moraviec said: "The addition of Woodbury contributes to our growth strategy for the Continence and Critical Care Franchise and builds on the success of our 180 Medical business, which we acquired in 2012.
“180 Medical is the largest retailer of intermittent catheters in the US. It has a differentiated, proven business model with strong customer focus and satisfaction.
"The addition of Woodbury will provide further breadth and reach to our new Home Distribution Group and further consolidate our leading position in this market, expand customer relationships and provide greater choice direct to US consumers."
Following the purchase, ConvaTec Americas will create a new home distribution business unit for catheter and incontinence related products, encapsulating the US distribution companies of 180 Medical, Symbius Medical, South Shore Medical Supply, Wilmington Medical Supply and Woodbury Health Products.
Woodbury's senior management team will remain with the company.