British medical device manufacturer ConvaTec has announced the acquisition of Dutch rival EuroTec Beheer, manufacturer of ostomy appliances for a purchase price of €25 million.
The acquisition is ConvaTec’s first since listing on the stock market in October last year.
“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