ConvaTec adds distribution business

READING, United Kingdom - ConvaTec, a global medical products company, has agreed to pay nearly $121 million for Woodbury Holdings, a distributor of incontinence and catheter supplies.

The Floral Park, N.Y.-based Woodbury offers a portfolio of more than 500 incontinence and 650 catheter products, and a wide array of nutritional, enteral feeding and vascular compression products through subsidiaries Woodbury Health Products and Wilmington Medical Supply.

"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,” said Paul Moraviec, CEO of ConvaTec, in a press release. “We look forward to working with our Woodbury colleagues to bring our comprehensive end-to-end suite of services to even more customers."

With this acquisition, ConvaTec Americas will create a new distribution unit for catheter- and incontinence-related products, comprising the U.S. distribution companies of 180 Medical, Symbius Medical, South Shore Medical Supply, Wilmington Medical Supply and Woodbury Health Products.

The deal is the latest in a recent string of manufacturers acquiring disposable medical supplies companies. In 2016, Coloplast paid $160 million for Comfort Medical; and Domtar acquired Home Delivery Incontinence Supplies for $45 million.

In October 2016, ConvaTec raised nearly $1.8 billion in an initial public offering, according to news reports. ConvaTec is owned by private equity firms Nordic Capital and Avista Capital Partners, which acquired the company in 2008 for $4.1 billion.