Healthcare Industry News: Nordic Capital
News Release - February 27, 2009
ConvaTec Announces Divestiture of Unomedical Wound Care and Ophthalmics BusinessSKILLMAN, New Jersey, February 27 -- (Healthcare Sales & Marketing Network) -- ConvaTec, a world-leading developer and marketer of innovative medical technologies for community and hospital care, announced today that it has completed the divestiture of the Unomedical Wound Care and Ophthalmics business to Aspen Surgical Products Holding, Inc. Aspen is a portfolio company of RoundTable Healthcare Partners, an operating-oriented private equity firm focused exclusively on the healthcare industry.
The divestiture of the Unomedical Wound Care and Ophthalmics business was a requirement of the European Commission following the acquisition of ConvaTec by Nordic Capital and Avista Capital Partners and the subsequent integration of the Unomedical business with ConvaTec.
Under the terms of the agreement, Aspen has acquired the entire Unomedical Wound Care and Ophthalmics business activities as a going concern, including all personnel and the continued use of the facilities in Redditch, U.K. Financial terms of the agreement are not being disclosed.
PriceWaterhouseCoopers served as corporate finance advisor for ConvaTec and The Wilkes Partnership served as legal counsel for the company.
ConvaTec is a leading developer and marketer of innovative medical technologies that have helped improve the lives of millions of people worldwide. With four key business divisions -- Ostomy Care, Wound Therapeutics, Continence and Critical Care and Infusion Devices -- ConvaTec products support health care professionals from the hospital to the community health setting. From its headquarters in Skillman, New Jersey, the company oversees more than 8,000 employees in over 90 countries serving consumers and their health care professionals on six continents. ConvaTec is owned by Nordic Capital and Avista Capital Partners. For more information, please visit www.convatec.com.
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