Coloplast aims to become market leader in the US via acquisition  

2006.03.30
Coloplast, a leading medical device company based north of Copenhagen, has sealed an offer to acquire US based Mentor Corporation's urology business for DKK 2.9 bn

Coloplast, a leading medical device company based north of Copenhagen, has sealed an offer to acquire US based Mentor Corporation's urology business for DKK 2.9 bn (USD 464 m). Coloplast aims to gain the leading position on the US market for products such as intermittent bladder catheters and urine bags.

Coloplast CEO Sten Scheibye says: "The acquisition will be a quantum leap for us. Our objective is to become the largest company in this area, just like we are today in Europe. We have invested a lot of time to gain a position in the US, and so the takeover of Mentor will be important to us." With the acquisition, Coloplast also expects to strengthen its range of products and its position in Europe. The deal is expected to be finalised as of 1 June this year.

In the 2004-05 fiscal year, Coloplast generated revenues of DKK 6.5 bn (USD 1 bn). The Danish medico group has just set a new objective of increasing turnover to at least DKK 15 bn (USD 2.4 bn) by 2012. The news was reported by national daily newspaper Berlingske Tidende.

Coloplast develops, manufactures and sells products and services in ostomy, continence care, wound & skin care and breast care. The company employs more than 6,000 people in 30 countries, and is listed on the Copenhagen Stock Exchange.

Link > Coloplast 

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