ConvaTec acquires Cure Medical bringing together two innovative manufacturers of continence care products
March 24, 2021 – Cure Medical is pleased to announce its sale to ConvaTec, a global medical products and technologies company focused on therapies for the management of chronic conditions.
With our long-established relationships with DMEs across the U.S, Cure Medical has become one of the most trusted home use catheter providers. The business has a strong innovation track record and has secured over 30 patents in the last 10 years. The two portfolios of Cure and ConvaTec are highly complementary and together will offer a more comprehensive range of products & services for patients and DME partners to better serve their broad range of needs.
Under the continued leadership of John Anderson, Cure Medical will join the Continence Care division of ConvaTec, which develops, manufactures and markets continence care products and reports to Kjersti Grimsrud, President & COO.
John Anderson, CEO of Cure Medical, comments:
‘I welcome ConvaTec, a long-time partner and customer of Cure Medical. This alliance, combining our strengths, allows us to better serve the needs of patients and business partners, bringing more innovative products and services to market even faster. I look forward to our continued success under the new ownership.’
Kjersti Grimsrud, President and COO Continence Care, comments:
‘We are delighted to welcome Cure Medical to the ConvaTec family. This marks another step forward in achieving our strategic ambitions, increasing our focus on the US, the geography that generates the largest demand for continence care products. ConvaTec has a strong relationship with Cure Medical, having worked with the ConvaTec Home Services Group for several years. Our shared values unite us – improving care for patients and customers lies at the heart of both businesses – giving us a strong foundation for our continued work together.’
ConvaTec is a developer, manufacturer and marketer of innovative medical products focused on therapies for the management of chronic conditions. Its four divisions provide products used for advanced chronic and acute wound care, ostomy care, continence and critical care, and infusion devices used in the treatment of diabetes and other conditions.
The M&A market for healthcare companies continues to strengthen in 2021. There is unprecedented capital in market, the lowest interest rates in US history and strong acquirer motivations for high quality healthcare companies. Across the continuum of care, buyers and investors are looking for well established, profitable businesses and offering strong valuations and options for management.
Do you know the current market value of your business? We do! We are here to help you plan, prepare, explore and succeed in executing your strategic options.
Contact Paragon Ventures for more information.
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