Sweden-based Svenska Cellulosa Aktiebolaget (SCA) has agreed to acquire medical solutions company BSN medical from private equity group EQT for around €2.7bn.
BSN medical is engaged in the development, manufacturing and marketing of wound care, compression therapy and orthopedic products.
The company produces its products under the brand names such as Leukoplast, Cutimed, JOBST, Delta Cast, Delta Lite and Actimove.
It manufactures wound care products such as dressings, consumables and wound closure products, while its orthopedic products will help to manage strains, sprains and fractures
BSN medical, which has around 6,000 employees, generates sales of around €860m per annum.
Subject to customary regulatory approvals, the deal is expected to complete in the second quarter of 2017.
SCA president and CEO Magnus Groth said: “The BSN medical acquisition is an excellent strategic fit for SCA supporting our vision to improve well-being through leading hygiene and health solutions, two closely interlinked areas.
“BSN medical has leading market positions in several attractive medical product categories and provides a new growth platform with future industry consolidation opportunities.”
BSN medical CEO Dr Guido Oelkers said: “This deal is a clear reflection of the dedication and expertise shown by all of our employees over the past four years as well as the strategic progress BSN has made under EQT ownership.”
Image: SCA president and CEO Magnus Groth at AGM 2016. Photo: courtesy of Svenska Cellulosa Aktiebolaget SCA.