A healthcare firm specialising in the sale of interventional medical devices to the NHS has completed a management buyout from its US parent.
Based in Sheffield since 1987, UK Medical Ltd. products are used in minimally-invasive image-guided procedures to diagnose and treat diseases.
It was bought by US healthcare firm CareFusion in 2012, before that company was purchased by Becton Dickinson (BD) in 2015, a $10bn revenue global medical technology group.
Ian Aaron, managing director of UK Medical, said: “This is a great deal for both companies and we look forward to a continued and long partnership with BD.
“We have exciting plans to grow the business and to partner with the NHS by supplying products that add value, improve patient care pathways and at the same time provide excellent value.
“We are very excited to be making a difference to patients and to the NHS.”
UK Medical Ltd. has a particular focus on devices used in breast radiology, urology, interventional radiology and cardiology.
Don Gray from BHP Corporate Finance, who acted as lead advisors on the purchase, said: “We are absolutely delighted to have worked with Ian and his team to deliver this cross-border buyout from BD.
“Our region is highly regarded for its healthcare companies and the deal demonstrates that there is a strong appetite to support innovative, high quality management teams in this sector.”
Funding for the transaction was provided by HSBC’s South Yorkshire Corporate team.