David Johnson will remain CEO of ConvaTec, supported by the current ConvaTec management team. As previously announced, Nordic Capital and Avista Capital Partners plan to integrate Unomedical, a manufacturer of single-use medical devices based in Copenhagen, into the ConvaTec business within the next few months.
As required by the European Competition Commission, the integration will not include Unomedical’s wound care division, which is to be divested by Nordic Capital within the next six months.
The combined company will be known as ConvaTec and will be a global provider in its four key product sectors: wound therapeutics, ostomy care, critical care and infusion devices, with combined estimated revenues of $1.6 billion.
David Johnson, CEO of ConvaTec, said: “Nordic Capital and Avista Capital Partners share a common vision for the future of ConvaTec. With their support, we are well positioned for a new phase of accelerated growth, innovation and development, benefiting our customers and their patients around the world.”