M&A Deal Summary

ConvaTec Acquires 180 Medical

On September 28, 2012, ConvaTec acquired medical products company 180 Medical from Cortec Group and Apogem Capital

Acquisition Highlights
  • This is ConvaTec’s 7th transaction in the Medical Products sector.
  • This is ConvaTec’s 3rd transaction in the United States.
  • This is ConvaTec’s 1st transaction in Oklahoma.

M&A Deal Summary
Date 2012-09-28
Target 180 Medical
Sector Medical Products
Buyer(s) ConvaTec
Sellers(s) Cortec Group
Apogem Capital
Deal Type Add-on Acquisition
Advisor(s) Harris Williams & Co.
Cain Brothers & Co. LLC (Financial)
Blank Rome
ArentFox Schiff (Legal)

Target

180 Medical

Oklahoma City, Oklahoma, United States
180 Medical is a leading distributor of disposable, single-use (intermittent) urologic catheters to over 10,000 customers in the home setting. The Company stocks a comprehensive inventory of over 500 types of urologic catheters and ships directly to patients to suit the individual needs of its diverse customer base, including those with spinal cord injuries, spina bifida, multiple sclerosis and other conditions causing incontinence.

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Buyer(S) 1

Buyer

ConvaTec

Reading, United Kingdom
Category Company
Founded 1972
Sector Medical Products
Revenue 1.8B USD (2018)
DESCRIPTION

ConvaTec is a global medical products and technologies company that provides advanced wound care, ostomy care, continence, and critical care, and infusion devices. ConvaTec was formed in 1972 and is based in Reading, United Kingdom.

DEAL STATS #
Overall 8 of 10
Sector (Medical Products) 7 of 8
Type (Add-on Acquisition) 7 of 9
State (Oklahoma) 1 of 1
Country (United States) 3 of 4
Year (2012) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-06-01 Trio Healthcare International

Skipton, United Kingdom

Trio Healthcare International Limited is a privately-held UK-based company with an innovative range of accessory products essential to the daily lifestyle of people with an ostomy, wounds and other continence issues.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-04 EuroTec Beheer B.V.

Roosendaal, Netherlands

EuroTec is the only manufacturer of stoma products in the Netherlands, based in Roosendaal. The company was established in 1996. The stoma products produced by EuroTec were developed by a professional team of designers and engineers with medical backgrounds and broad experience in stoma care, with the aim of meeting the specific needs of stoma patients.

Buy €25M

Seller(S) 2

SELLER

Cortec Group

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1984
PE ASSETS 6.4B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Cortec Group is a private equity firm focused on acquiring mid-sized businesses operating in basic industries. Cortec Group is an experienced and knowledgeable investor in healthcare products and services, B2C and B2B products, value-added distribution (including eCommerce), and specialty services companies with equity of $100-$500 million and EBITDA of $10 to $50 million. Cortec Group was formed in 1984 and is based in New York City.

DEAL STATS #
Overall 20 of 35
Sector (Medical Products) 4 of 6
Type (Add-on Acquisition) 7 of 9
State (Oklahoma) 1 of 1
Country (United States) 20 of 34
Year (2012) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-07-20 Harmar

Sarasota, Florida, United States

Harmar is a designer, manufacturer, and marketer of mobility and accessibility solutions for individuals who use power wheelchairs/scooters or are otherwise mobility impaired. Harmar was founded in 1998 and is based in Sarasota, Florida.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-10-01 The Hygenic

Akron, Ohio, United States

Hygenic is a manufacturer of natural rubber, latex and synthetic rubber products primarily serving the medical and therapy/fitness industries as well as some other industrial applications.

Sell -
SELLER

Apogem Capital

Chicago, Illinois, United States
Category Asset Manager
Founded 2001
PE ASSETS 39.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Apogem Capital is a diversified alternative investment manager and subsidiary of insurance provider, New York Life. Apogem manages a variety of investment strategies including private equity, private credit, and real assets. Within private equity, the Firm looks to make fund, direct, and secondary investments, as well as acquire GP stakes. Within its direct investing activity, Apogem targets mid-sized companies valued up to $250 million and will consider businesses throughout North America and Europe. Apogem Capital formed as the result of New York Life combining PA Capital, Madison Capital Funding, and Goldpoint Partners into one entity. Apogem Capital is based in New York City.

DEAL STATS #
Overall 9 of 52
Sector (Medical Products) 1 of 5
Type (Add-on Acquisition) 4 of 21
State (Oklahoma) 1 of 2
Country (United States) 9 of 52
Year (2012) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-06-12 Pentec Health

Glen Mills, Pennsylvania, United States

Pentec Health is a provider of specialty infusion services to patients who require access to complex pharmaceutical products and services outside of the hospital setting. Pentec Health was founded in 1983 and is based in Glen Mills, Pennsylvania.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-11-26 Wellmark

Oklahoma City, Oklahoma, United States

WellMark produces a full line of liquid and pneumatic flow controls and valves to the oil and gas and petrochemical industries.

Buy -
Mergr

Product

Company

Legal