ConvaTec Group PLC (LON:CTEC), a leading global medical products and technologies company, today announced it has signed an agreement to purchase the assets of Southlake Medical Supplies, Inc., 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.”