ConvaTec

ConvaTec Group plc is an Anglo-American medical products and technologies company, offering products and services in the areas of wound and skin care, ostomy care, continence and critical care and infusion devices. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.

ConvaTec
TypePublic limited company
LSE: CTEC
IndustryMedical devices
Founded1978
HeadquartersReading, Berkshire, England
Key people
ProductsWound and skin care, ostomy care, continence and critical care, infusion devices
RevenueUS$1,827.2 million (2019)[1]
US$96.9 million (2019)[1]
US$9.8 million (2019)[1]
Number of employees
9,400 (2019)[2]
Websitewww.convatecgroup.com

History

The company was established as a division of E.R. Squibb & Sons, Inc. in 1978[3] and acquired by Nordic Capital and Avista Capital Partners in 2008.[3] In 2008 merged with Unomedical (with headquarters in Denmark), a manufacturer of single-use medical devices,[4] and 180 Medical, a catheter manufacturer, in 2012.[5]

In June 2015 the company won a Court of Appeal ruling that determined that in the context of a patent "between 1% and 25%" should be interpreted rounding to the nearest 1%, so that an attempt to circumvent a patent by using the value 0.9% failed.[6] In October 2016 the company was valued at £4.4bn in the largest initial public offering on the London Stock Exchange in the year.[7]

On 15 October 2018, ConvaTec announced that Paul Moraviec would be retiring as CEO with immediate effect, and would be succeeded on an interim basis by non-executive director Rick Anderson, who was formerly the chairman of Johnson & Johnson.[8]

Operations

The company has 9,000 employees and operates in more than 100 countries.[7]

References
  1. "Annual Results 2019" (PDF). ConvaTec. Retrieved 1 March 2020.
  2. "Company overview". ConvaTec. Retrieved 17 March 2019.
  3. "ConvaTec to raise $1.8bn through London IPO". Financial Times. 3 October 2016. Retrieved 3 December 2016.
  4. "ConvaTec Completes Acquisition of Unomedical". Biospace. 3 September 2008. Retrieved 3 December 2016.
  5. "ConvaTec snags catheter maker for $321M". Fierce Biotech. 4 September 2012. Retrieved 3 December 2016.
  6. "What exactly does 'one' mean? Court of Appeal passes judgement on thorny mathematical issue". The Independent. 27 June 2015. Retrieved 3 December 2016.
  7. "ConvaTec valued at £4.4bn in biggest London listing this year". The Independent. 26 October 2016. Retrieved 3 December 2016.
  8. "Paul Moraviec". ConvaTec. 15 October 2018. Retrieved 17 March 2019.
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