ConvaTec Group PLC Changes within U.S. Home Distribution Group (4605G)
March 02 2018 - 2:00AM
UK Regulatory
TIDMCTEC
RNS Number : 4605G
ConvaTec Group PLC
02 March 2018
ConvaTec announces changes within its U.S. Home Distribution
Group
Reading, United Kingdom (02 March 2018) - ConvaTec Group Plc
("ConvaTec") a leading global medical products and technologies
company focused on therapies for the management of chronic
conditions, today announces the acquisition of J&R Medical LLC
("J&R Medical"), a Texas-based independent distributor of
catheter-related supplies. For the year ended 31 December 2017
J&R Medical delivered revenues of approximately $9.0
million.
Paul Moraviec, CEO of ConvaTec, said: "The addition of J&R
Medical to our Home Distribution Group will strengthen our presence
in a substantial and important US market. The acquisition also
reinforces ConvaTec's position as a leading distributor of urinary
catheters in the US."
Concurrently with this strategic addition to the US Home
Distribution Group, ConvaTec has divested its respiratory delivery
business in Arizona and Utah. The net financial impact to ConvaTec
of these transactions is positive in both revenue and EBITDA.
Enquiries
Media
Bobby Leach, VP Group Corporate Affairs, ConvaTec +44 (0)7770 842 226
Alastair Elwen, Finsbury +44 (0)207 251 3801
Analysts and Investors
John Crosse, VP Investor Relations, ConvaTec +44 (0)7500 141 435
Kirsty Law, Director Investor Relations, ConvaTec +44 (0)7470 909 582
investorrelations@convatec.com
About ConvaTec
ConvaTec is a global medical products and technologies company
focused on therapies for the management of chronic conditions, with
leading market positions in advanced wound care, ostomy care,
continence and critical care, and infusion devices. ConvaTec's
products provide a range of clinical and economic benefits
including infection prevention, protection of at-risk skin,
improved patient outcomes and reduced total cost of care. To learn
more about ConvaTec, please visit www.convatecgroup.com where a
copy of this announcement can also be found.
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This information is provided by RNS
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