Press
Release

Flexicare (Group) Limited Acquisition of Medisize B.V.

Flexicare (Group) Limited ("Flexicare"), a leading UK headquartered manufacturer of medical devices, is pleased to announce that it has acquired Medisize B.V. from an affiliate of Phillips-Medisize, LLC ("Phillips-Medisize").

Medisize B.V. is a manufacturer specialising in the supply and distribution of a wide range of respiratory and anaesthesia products for critical care, neonatology, emergency, homecare and radiology ("Airway Management"). The acquisition of Medisize B.V. includes operations in the Netherlands, and subsidiaries in Germany and Italy.

This transaction provides Flexicare with an enhanced presence in mainland Europe supported by the Medisize B.V. sales and distribution networks in three European geographies. Acquiring Medisize B.V. supplements the Flexicare global product portfolio providing greater choice and coverage for existing and new customers.

The sale of Medisize B.V. by Phillips-Medisize will enable both organisations to focus on their differing areas of expertise, and better serve the needs of their distinct customer groups. The business acquired does not include any of the contract manufacturing and design consultancy businesses of Phillips-Medisize in the Netherlands, Czech Republic or elsewhere.

Commenting on the deal, Flexicare managing director Hash Poormand said: "This transaction underscores our commitment across Europe to be a leader in airway management and anaesthesia, with the ability to deliver and service the market at scale.

"The rapid organic growth that we have enjoyed, as a result of our innovative product portfolio and recent acquisitions, will give us further reach and the combination of the two companies will increase the value Flexicare and Medisize B.V. deliver to its customers and end users. The acquisition is expected to immediately accelerate revenue growth and drive overall earnings growth potential for Flexicare’s wider range of anaesthesia and airway management products, truly exciting times ahead."

Matt Jennings, CEO and president, Phillips-Medisize commented: "We believe this is a very positive transaction for both Flexicare and Phillips-Medisize. The Airway Management business closely aligns with Flexicare’s vision. Flexicare’s strength and presence in this market makes them well-positioned to fully leverage the talent and expertise of the Airway Management team in continuing to provide innovative airway management solutions."