REG - ConvaTec Group PLC - Changes within U.S. Home Distribution Group <Origin Href="QuoteRef">CTEC.L</Origin>

ConvaTecAnnouncement

02/03/2018 07:05

RNS Number : 4605G
ConvaTec Group PLC
02 March 2018
ConvaTec announces changes within its U.S. Home Distribution Group
Reading, United Kingdom (02 March 2018) - ConvaTec Group Plc ("ConvaTec") a leading global medical products and technologies company focused on therapies for the management of chronic conditions, today announces the acquisition of J&R Medical LLC ("J&R Medical"), a Texas-based independent distributor of catheter-related supplies. For the year ended 31 December 2017 J&R Medical delivered revenues of approximately $9.0 million.
Paul Moraviec, CEO of ConvaTec, said: "The addition of J&R Medical to our Home Distribution Group will strengthen our presence in a substantial and important US market. The acquisition also reinforces ConvaTec's position as a leading distributor of urinary catheters in the US."
Concurrently with this strategic addition to the US Home Distribution Group, ConvaTec has divested its respiratory delivery business in Arizona and Utah. The net financial impact to ConvaTec of these transactions is positive in both revenue and EBITDA.
Enquiries
Media
Bobby Leach, VP Group Corporate Affairs, ConvaTec +44 (0)7770 842 226
Alastair Elwen, Finsbury +44 (0)207 251 3801
Analysts and Investors
John Crosse, VP Investor Relations, ConvaTec  +44 (0)7500 141 435
Kirsty Law, Director Investor Relations, ConvaTec  +44 (0)7470 909 582
investorrelations@convatec.com
About ConvaTec

ConvaTec is a global medical products and technologies company focused on therapies for the management of chronic conditions, with leading market positions in advanced wound care, ostomy care, continence and critical care, and infusion devices. ConvaTec's products provide a range of clinical and economic benefits including infection prevention, protection of at-risk skin, improved patient outcomes and reduced total cost of care. To learn more about ConvaTec, please visit www.convatecgroup.com where a copy of this announcement can also be found.

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