Pictured above: Andy Moore
The Birmingham office of Clearwater Corporate Finance
("Clearwater"), UK member of exclusive global mergers and
acquisitions organisation, IMAP, has advised Barclays Private
Equity ("BPE") on the £25m sale of Femcare Group Limited
("Femcare"), to NASDAQ-listed Utah Medical Products Inc ("UTMD").
The sale is Clearwater's tenth cross-border deal in the last 12
months.
Femcare-Nikomed, part of Femcare Group Limited, is a leading
firm in female surgical contraception, manufacturing and supplying
the Filshie Clip System, recognised by leading surgeons around the
world as the "Gold Standard" for surgical contraception. More than
ten million Filshie Clips have been successfully applied since its
launch in 1982. Femcare also supplies an extensive range of
disposable surgical and laparoscopic instruments and a range of
urological disposable products on a global basis.
US-based UTMD develops, manufactures, assembles and markets a
broad range of well-established disposable and reusable specialty
medical devices designed for better health outcomes for patients
and their care-providers.
The deal sees BPE's investors achieving a 2x return on capital.
BPE backed the MBO of Femcare in 2004 and worked alongside the
Femcare team, led by CEO, Roy Smith, to develop and grow the
business. The strategic fit and complementary strengths of UTMD and
Femcare will provide excellent revenue opportunities across
gynaecology, urology and general surgery.
The Clearwater team that advised Femcare on the sale comprised
partner, Andy Moore, director, Gareth Iley, assistant director,
Mark Day and senior healthcare analyst, Ramesh Jassal.
Andy Moore, head of healthcare at Clearwater Corporate Finance's
Birmingham office said: "The sale of Femcare is another example of
the ongoing globalization of the medical device industry, triggered
by companies looking to access both new products and distribution
channels.
"Working in partnership with IMAP, more than 50 per cent of
Clearwater's M&A transactions are cross border. The sale is
further evidence of Clearwater's ability to access global buyers
and its continuing expertise in the medical device sector."
Clearwater also recently advised on the sale of the Mobility and
Rehab Division of DCC Healthcare to Patterson Medical, part of
US-based Patterson Companies Inc.
Barclays Private Equity was advised by Clearwater Corporate
Finance in Birmingham and Pinsent Masons LLP (legal). Utah Medical
Devices was advised by Osborne Clarke (legal).