Convatec Group PLC

M&A Activity • Sep 18, 2019

National Storage Mechanism | Additional information

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RNS Number : 6893M

ConvaTec Group PLC

18 September 2019

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:

John Crosse, VP Investor Relations	+44 (0)7500 141435
Mark Reynolds, Director Investor Relations investorrelations@convatec.com	+44 (0)7551 036625
Finsbury	+44 (0)207 2513801

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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