Tag: ConvaTec
ConvaTec enters new market
January 31, 2022HME News Staff
BRIDGEWATER, N.J. – ConvaTec will enter the wound biologics segment with its planned acquisition of Memphis, Tenn.-based Triad Life Sciences for an initial consideration of $125 million.
The company says the wound biologics segment is estimated to be worth $1.8 billion per year globally.
“Today’s announcement marks another successful step in our strategic intent of pivoting to sustainable and profitable growth,” said Karim Bitar, CEO of ConvaTec. “This...
ConvaTec launches Healthy Bonds Campaign
October 5, 2021HME News Staff
BRIDGEWATER, N.J. – ConvaTec has launched a month-long effort to celebrate the ostomy community and to mark World Ostomy Day on Oct. 2. As part of its Healthy Bonds Campaign during the month of October, ConvaTec is encouraging ostomates to share their stories of healthy body images and medical, professional and personal relationships on Instagram using the hashtag #myhealthybonds. The campaign will also include advertising and influencer amplification to tell the inspiring stories of the Healthy...
In brief: CMS guidance, Convatec acquisition, Drive CEO
April 2, 2021HME News Staff
WASHINGTON – CMS has instructed the Medicare Administrative Contractors (MACs) to hold all claims with dates of service on or after April 1, 2021, for a short period, in anticipation of possible congressional action to extend the moratorium on the 2% sequestration cuts.
“This will minimize the volume of claims the MACs must reprocess if Congress extends the suspension,” CMS wrote in a March 30 bulletin. “The MACs will automatically reprocess any claims paid with the...
Cure Medical becomes part of ConvaTec
March 29, 2021HME News Staff
NEWPORT BEACH, Calif., and BRIDGEWATER TOWNSHIP, N.J. – Cure Medical on March 24 announced that is has been bought by ConvaTec and that its CEO, John Anderson, will join the Continence Care division of the company.
The two companies have complimentary portfolios and, together, will be able to offer a more comprehensive range of products and services for patients and their DME partners, Cure Medical says.
“I welcome ConvaTec, a long-time...
In brief: ConvaTec adds distribution business, Compass Health launches new product line
July 21, 2017HME News Staff
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...
ConvaTec adds distribution business
July 21, 2017HME News Staff
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...
ConvaTec hits London market with $1.8B IPO
October 27, 2016HME News Staff
LONDON - ConvaTec on Wednesday raised nearly $1.8 billion in London's biggest initial public offering of 2016, according to news reports. The company, which manufactures ostomy, wound, skin, continence and other critical care products, will use the proceeds from the IPO to redeem or repay debt. ConvaTec's shares traded just below their offer price of $2.76, at $2.75. The IPO represents about 33.8% of the company's stock, assuming no exercise of an overallotment option, and will rise to 38.9% if the...
In brief: Inogen increases revenue guidance, Philips enters new era
August 5, 2016HME News Staff
GOLETA, Calif. - Inogen last week reported double-digit increases in total revenues and net income for the second quarter ended June 30, 2016.The company reported total revenues of $54.6 million for the quarter, a 23.9% increase compared to the same period last year. It reported a net income of $5.1 million, a 48.7% increase.“Our strong results in the second quarter of 2016 reflect exceptional performance in our domestic business-to-business sales channel, which demonstrated 61.3% revenue growth...
ConvaTec up for sale?
August 5, 2016HME News Staff
GREENSBORO, N.C. - The private equity firms that own ConvaTec are preparing the company for sale, according to news reports. Nordic Capital and Avista Capital Partners have appointed investment bankers to prepare the groundwork for a sale potentially valuing ConvaTec in the billions of dollars, according to the Financial Times. ConvaTec, which is based in Luxembourg but has U.S. operations here, is a medical products and technologies company focused on therapies for the management of chronic conditions...
In brief: ConvaTec shrinks manufacturing, Apria shifts order management
January 29, 2016HME News Staff
GREENSBORO, N.C. - ConvaTec, a manufacturer of wound care and ostomy products, will begin closing its manufacturing facility here, resulting in 250 layoffs, according to news reports. It expects to complete the closure during the first quarter of 2017. The company announced in 2014 that it would shutter its office in Skillman, N.J., resulting in 118 layoffs from its sales, marketing and human resources division. ConvaTec is owned by Avista Capital Partners and Nordic Capital. The firms have been...