MTS Health Investors has completed the sale of its portfolio company, Woodbury Health Products, to publicly-traded ConvaTec Group. MTS acquired Woodbury in March 2012 from Health Edge Investment Partners.
Woodbury is a distributor of incontinence and catheter-related supplies with a product portfolio of over 500 incontinence SKUs and over 650 catheter SKUs. The company also sells nutritional, enteral feeding, and vascular compression supplies. Woodbury has nationwide distribution capabilities and delivers directly to the homes of its customers through a distribution center in Wilmington, NC. In April 2016, MTS completed and add-on acquisition for Woodbury with the buy of Advanced Medical Group, a Suwanee, GA-based distributor of home urological supplies. Woodbury is led by CEO Seth Segel and is headquartered on Long Island in Floral Park, NY (www.woodburyproducts.com).
“MTS has been an outstanding partner for Woodbury, and we are grateful for their commitment to improving and growing our business,” said Mr. Segel. “By partnering with ConvaTec, we will have access to even greater resources backed by a robust infrastructure to serve our customers and continue to provide them with the tailored and seamless solutions they depend on.”
ConvaTec Group (LSE: CTEC) is an international medical products company offering products and services in the areas of wound and skin care, ostomy care, continence and critical care and infusion devices. ConvaTec was acquired by Nordic Capital and Avista Capital Partners in 2008 and went public in on October 2016. The company has approximately 8,500 employees and does business in more than 100 countries. ConvaTec ‘s US headquarters are in Skillman, NJ (www.convatec.com).
“The sale of Woodbury to ConvaTec creates an exceptional outcome for both companies’ customers, while also delivering a terrific outcome for our investors,” said Oliver Moses, Senior Managing Director of MTS. “We are proud to have been able to execute on our strategy with Woodbury’s leadership and deliver the business to a new partner who will continue to support the excellent clinical products and customer service that Woodbury provides.”
MTS Health Investors makes equity investments in US-based companies with valuations of $25 million to $300 million that operate within the services sectors of the healthcare industry. MTS manages over $700 million in investments and is currently investing out of its fourth fund. The firm is based in New York (www.mtsinvestors.com).
Robert W. Baird & Co. was the financial advisor to Woodbury Health Products on this transaction.
© 2017 Private Equity Professional | September 11, 2017
