Press Release Convatec
Seale & Associates, Inc. announced that it acted as exclusive financial advisor to ConvaTec Group (LON: CTEC) on the divestiture of their Aloe Vesta and Sensi-Care skin care business to Medline Industries, a private American healthcare company with almost $14 billion in annual sales. The divestiture is part of ConvaTec's strategy to focus on its core businesses and markets.
The sale includes the Aloe Vesta and Sensi-Care skin care business in both the U.S. and Canada (but excludes the Sensi-Care Sting Free product line) and gives Medline global rights to market outside North America.
"Seale was instrumental in keeping the process moving in a swift, orderly fashion" said George Landau, Vice President, Corporate Development at ConvaTec. "Their common sense and ability to find simple, common ground solutions while preserving our interests were invaluable in bringing this project to a successful conclusion."
"We are proud to have helped our client achieve a very successful outcome for this business" said Carlos Hernandez, Managing Director at Seale & Associates. "This business is a terrific strategic fit for Medline, and the transaction allows ConvaTec to focus on its core business."
ConvaTec Group Plc (LON: CTEC), headquartered in Reading, United Kingdom with annual revenues of almost $2 billion, 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 care. Its 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. ConvaTec has over 9,400 employees and is present in over 110 countries.
Medline Industries Inc., headquartered in Northfield, Illinois, is a privately held manufacturer and distributor of medical supplies uniquely positioned to provide products, education and support across the continuum of care. Medline Industries, Inc. stands as a fourth generation, family-owned company offering over 550,000 medical products and clinical solutions to healthcare facilities around the world. The company has over 26,000 employees and more than $13.9 billion in sales.
Seale & Associates, Inc., headquartered in Arlington, Virginia, is a global investment banking firm with extensive experience in mergers and acquisitions, corporate finance advisory, and enterprise level strategy consulting. Our professionals are trusted advisors maintaining a high level of quality and integrity while presenting innovative ideas and solutions to address our clients' most complex dealings. For more information, please visit www.sealeassociates.com.