Medical products company ConvaTec has agreed to acquire U.S.-based distributor Woodbury Holdings from MTS Health Investors for approximately $120.5 million.
Floral Park, N.Y.-based Woodbury Holdings is an independent national distributor of incontinence and catheter products, as well as nutritional, enteral feeding and vascular compressions supplies providing direct-to-home delivery across the U.S. The acquisition creates a new home distirubiton unit for catheter and incontinence reltaed products at ConvaTec's Americas division, combining multiple distribution companies.
“The addition of Woodbury contributes to our growth strategy for the continence and critical care franchise and builds on the success of our 180 medical business, which we acquired in 2012. 180 Medical is the largest retailer of intermittent catheters in the U.S. It has a differentiated, proven business model with strong customer focus and satisfaction. The addition of Woodbury will provide further breadth and reach to our new home distribution group and further consolidate our leading position in this market, expand customer relationships and provide greater choice direct to U.S. consumers. ConvaTec and Woodbury share a common commitment to improving the lives of people with continence issues and a dedication to providing quality products, together with distinctive service and personal support. We look forward to working with our Woodbury colleagues to bring our comprehensive end-to-end suite of services to even more customers,” ConvaTec CEO Paul Moraviec says.
Senior management form Woodbury will stay within the company after the acquisition, ConvaTec said.