In Brief: U.S. Surgical buys Japanese distributor
This article was originally published in The Gray Sheet
U.S. Surgical buys Japanese distributor: USSC completes acquisition of its Tokyo-based Japanese distributor, Auto Suture Japan, in a cash transaction valued at approximately $61 mil. The deal includes a $12 mil. downpayment made earlier this year, "with the balance to be paid over seven years, interest free," the company says. Auto Suture Japan's "135-person fully trained field sales organization" and other personnel will join USSC's workforce. The company also acquires inventory and "a state-of-the-art laparoscopic training center near Tokyo." USSC estimates the distributor's "current annualized business" to be in the $100 mil. range "with a strong pretax margin," noting that the acquisition "began adding more than $50 mil. in annualized incremental revenue during the second quarter of this year"...
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