Bristol-Myers Squibb divests ConvaTec
This article was originally published in The Gray Sheet
Executive Summary
Drug maker Bristol divests its ostomy and wound care device business to private equity firms Nordic Capital Fund VII and Avista Capital Partners for $4.1 billion May 2. Avista previously acquired Bristol's imaging agent franchise for $525 million in December (1"The Gray Sheet" Jan. 7, 2008, p. 22). The moves are part of Bristol's broader effort to sharpen its focus on drugs
You may also be interested in...
Acquisitions In Brief
ConvaTec poised to combine with Unomedical: Ostomy and wound care device business ConvaTec, which is being acquired by private equity firms Nordic Capital Fund VII and Avista Capital Partners from Bristol-Myers Squibb under a May 2 deal, will be combined with Danish single-use medical device maker Unomedical, currently owned by Nordic Capital Fund IV, after the ConvaTec deal closes in the third quarter, the investor groups announce June 27. The combination will enable Unomedical to benefit from Skillman, N.J.-based ConvaTec's "global presence and size," and will continue to be known as ConvaTec, the firms state. ConvaTec has annual sales of $1.15 billion, while Unomedical has revenues of about $418 million, based on current exchange rates. Bristol is sharpening its pharma focus (1"The Gray Sheet" May 5, 2008, In Brief)
Bristol-Myers Squibb Divests Imaging Agents, Considers Sale Of ConvaTec
Bristol-Myers Squibb is evaluating strategic alternatives for its ConvaTec ostomy and wound care device business following the divestiture of its imaging agent franchise, announced Dec. 17
China VBP, Localization And Other Strategies - How Far And Which Way?
Could health sector players encounter issues similar to those facing Tesla in China, a country which virtually saved the electric vehicle maker but where it is now facing challenges? Are there any lessons to be learned from a success story under China's volume-based procurement scheme? A partner at EY looks at these and other issues in an interview with Scrip.