Madison Dearborn Partners (MDP) has completed the acquisition of Patterson Companies’ medical business, Patterson Medical, for $715m.
The deal was first announced by both firms in July this year.
Patterson plans to use the proceeds from the deal to cut down its debt incurred due to the acquisition of Animal Health International.
Patterson Medical is involved in the distribution of rehabilitation supplies and non-wheelchair assistive patient products to the physical and occupational therapy markets across the globe.
The business unit distributes its products to customers including hospitals, long-term care facilities, clinics and dealers.
Patterson Companies chairman and CEO Scott Anderson said: "The sale of the medical business accomplishes a key component of Patterson’s strategic transformation.
"We are now well-positioned to focus on developing our highly synergistic dental and animal health businesses, accelerating return on our investments and delivering shareholder value."
Based in Chicago, MDP invests in businesses into health care, basic industries, business and government services, consumer, financial and transaction services, as well as media and technology services.
Image: MDP has purchased medical business from Patterson Companies. Photo: courtesy of adamr/ FreeDigitalPhotos.net.