Seton ends distribution deal with Acme:
This article was originally published in Clinica
Executive Summary
For a payment of about $2 million, Seton is to end its five-year distribution arrangement with Acme. The payment will redeem an outstanding loan to Seton and pay for the Acme shares that Seton holds. Seton will replace Acme with Convatec, a company with a status in the US healthcare market which Seton hopes will mean a larger distribution network. Convatec, a subsidiary of Bristol-Myers Squibb, is to pay a total of $2.5 million to complete the deal.