ConvaTec to Acquire 180 Medical

Skillman, N.J.-based ConvaTec, a developer and marketer of medical technologies for community and hospital care, has entered into a definitive agreement to acquire all of the capital stock of 180 Medical Holdings Inc. for $321 million. 180 Medical is a U.S. provider of disposable, intermittent catheters and urologic medical supplies.

The deal is being funded primarily through incremental term debt under ConvaTec’s credit agreement. The transaction is subject to regulatory approval and customary closing conditions, and is expected to close late in the third quarter of this year.

ConvaTec focuses in four key focus areas: ostomy care, wound therapeutics, continence and critical care, and infusion devices.

180 Medical is based in Oklahoma City, Okla. The company provides sterile-use catheters as well as urologic and disposable medical supplies. 180 Medical is focused on devices for urinary incontinence, spinal cord injuries, multiple sclerosis, transverse myelitis, spina bifida, and many other urologic conditions that require catheterization.