Business
Changes within U.S. Home Distribution Group
Changes within U.S. Home Distribution Group.
About this update from Convatec Group Plc
[{"type":"text","content":"\n \nRNS Number : 4605G ConvaTec Group PLC 02 March 2018 \n \n\n \nConvaTec announces changes within its U.S. Home Distribution Group\n \nReading, United Kingdom (02 March 2018) - ConvaTec Group Plc (\"ConvaTec\") a leading global medical products and technologies company focused on therapies for the management of chronic conditions, today announces the acquisition of J&R Medical LLC (\"J&R Medical\"), a Texas-based independent distributor of catheter-related supplies. For the year ended 31 December 2017 J&R Medical delivered revenues of approximately $9.0 million.\n \nPaul Moraviec, CEO of ConvaTec, said: \"The addition of J&R Medical to our Home Distribution Group will strengthen our presence in a substantial and important US market. The acquisition also reinforces ConvaTec's position as a leading distributor of urinary catheters in the US.\" \n \nConcurrently with this strategic addition to the US Home Distribution Group, ConvaTec has divested its respiratory delivery business in Arizona and Utah. The net financial impact to ConvaTec of these transactions is positive in both revenue and EBITDA.\n \nEnquiries\n \nMedia\n \nBobby Leach, VP Group Corporate Affairs, ConvaTec +44 (0)7770 842 226\nAlastair Elwen, Finsbury +44 (0)207 251 3801\nAnalysts and Investors\n \nJohn Crosse, VP Investor Relations, ConvaTec +44 (0)7500 141 435\nKirsty Law, Director Investor Relations, ConvaTec +44 (0)7470 909 582\[email protected]\n \nAbout ConvaTec \nConvaTec is a global medical products and tec...