REG - ConvaTec Group PLC - CONVATEC ANNOUNCES ACQUISITION OF EUROTEC <Origin Href="QuoteRef">CTEC.L</Origin>

ConvaTecAnnouncement

04/01/2017 07:05

RNS Number : 2516T
ConvaTec Group PLC
04 January 2017
CONVATEC ANNOUNCES ACQUISITION OF EUROTEC
Reading, United Kingdom (4 January 2017) - ConvaTec Group Plc ("ConvaTec"), a leading global medical products and technologies company, today announces the acquisition of EuroTec Beheer B.V. ("EuroTec"), a Netherlands-based manufacturer of ostomy appliances for a purchase price of 25 million. 
"The addition of EuroTec to the ConvaTec family significantly strengthens our ostomy care business in the France and Benelux region, and is an important pillar in the growth strategy for our ostomy care franchise," said Paul Moraviec, Chief Executive Officer of ConvaTec.
"ConvaTec and EuroTec share a common commitment to improving the lives of people with stomas and a dedication to providing quality products, excellent service and personal support. We look forward to working with our EuroTec colleagues to inspire more ostomates to live the life they want." 
EuroTec manufactures and distributes one- and two-piece ostomy systems and accessories through various distribution channels in the Netherlands and Belgium, and through distributor partners in other markets.
The acquisition also includes EuroTec's production facilities in Roosendaal, Netherlands
About ConvaTec 

ConvaTec is a global medical products and technologies company listed on the London Stock Exchange (stock symbol: CTEC) with leading market positions in wound therapeutics, 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. www.convatecgroup.com.
About EuroTec 
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. www.eurotec.eu
Enquiries
Bobby Leach, VP Group Corporate Affairs, ConvaTec        +44 (0)7770 842 226
Rebecca Fitchett, Finsbury +44 (0)207 251 3801

This information is provided by RNS
The company news service from the London Stock Exchange
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