ConvaTec to Acquire Intermittent Catheter Provider
Skillman, NJ (August 31, 2012) - ConvaTec, a world-leading developer and marketer of innovative medical technologies for community and hospital care, announced today it has entered into a definitive agreement to acquire all of the capital stock of 180 Medical Holdings, Inc. ("180 Medical") for $321 million. 180 Medical is a leading U.S. provider of disposable, intermittent catheters and urologic medical supplies.
The transaction is being funded primarily through incremental term debt under ConvaTec's credit agreement. The transaction is subject to regulatory approval and customary closing conditions, and is expected to close late third quarter 2012.
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 focus areas - Ostomy Care, Wound Therapeutics, Continence and Critical Care and Infusion Devices - ConvaTec products support healthcare professionals from the hospital to the community health setting.
About 180 Medical
180 Medical is one of America's fastest growing "Nationally Accredited" providers of sterile use catheters, urologic and disposable medical supplies. Based in Oklahoma City, the company is dedicated to meeting the supply needs of customers with chronic medical diagnoses such as Urinary Incontinence, Spinal Cord Injuries, Multiple Sclerosis, Transverse Myelitis, Spina Bifida, and many other urologic conditions that require catheterization. For more information, please visit www.180medical.com.