Business
DCC significantly expands in medical devices
DCC significantly expands in medical devices.
About this update from Dcc Plc
[{"type":"text","content":"\n \n \n \n \n \n \n \n \n \n 8 September 2022\n \n \n \n \n \n \n \n \n \n DCC Healthcare significantly expands in medical devices with its largest acquisition to date\n \n \n \n \n Scale platform in European medical devices sector\n \n \n \n \n \n \n \n \n DCC plc, the leading international sales, marketing, and support services group, announces that DCC Healthcare has agreed to acquire Medi-Globe Technologies GmbH (\"Medi-Globe\"), an international\n medical devices business focused on minimally invasive procedures\n . The transaction represents DCC Healthcare's largest acquisition to date and is a further material expansion of DCC Vital's presence in the European healthcare market, following on from the acquisition of primary care supplier Wörner Medical in May 2021.\n \n \n \n \n \n The acquisition is based on an enterprise value of approximately €245 million (£213 million) on a cash-free, debt-free basis and the consideration will be settled in cash on completion. The acquisition is expected to generate a mid-teen return on capital employed in three years. The transaction is subject to competition authority approval in Germany and France and is expected to complete in calendar Q4 2022.\n \n \n \n \n \n Medi-Globe, founded in 1990, is involved in the development, manufacture and distribution of single-use devices for endoscopy in diagnostic and therapeutic\n procedures. The business\n has grown organically and through bolt-on acquisitions to become a leading global player in i\n ts\n focus areas of gastroenterology and urology. These are large and growing therapeutic areas, benefiting from strong demographic and treatment trends. Medi-Globe has revenues of approximately €120 million (£104 million) and employs approximately 600 people. Its products are sold to hospitals and procurement organisations in over 120 countries through direct sales operations in Germany, France, Austria, Netherlands, Czechia and Brazil; and an international network of distributors. The business has significant regulatory and R&D capability with a strong development pipeline of innovative proprietary products. Medi-Globe sources its products from high quality manufacturers, as well as its own cleanroom facility in Czechia. Its highly experienced management team will continue to lead the busin...