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18 Sep 2019 07:00
Acquisition of Southlake Medical Supplies
18 September 2019 (LSE: CTEC)
ConvaTec Group Plc ("ConvaTec"), a leading global medical products and technologies company, today announces it has signed an agreement to purchase the assets of Southlake Medical Supplies, Inc. ("Southlake"), a Texas-based independent provider of catheter-related supplies. For the year ended 31 December 2018 Southlake delivered revenues of approximately $5.0 million.
The acquisition is expected to close on 30 September, subject to the usual formalities.
Rick Anderson, Executive Chairman of ConvaTec, said: "The addition of Southlake to our Home Distribution Group will further strengthen our presence in an important U.S. market. We look forward to bringing our distinctive service and personal support to even more customers, as the leading supplier of urinary catheters in the US."
Enquiries:
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John Crosse, VP Investor Relations | +44 (0)7500 141435 |
Mark Reynolds, Director Investor Relations investorrelations@convatec.com | +44 (0)7551 036625 |
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Finsbury | +44 (0)207 2513801 |
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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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