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Coloplast Corporation Acquires Mpathy Medical and Strengthens the Company's Position Within Female Pelvic Health For At Least $30 Million
10/29/2010 6:22:31 AM
HUMLEBAEK, Denmark and MINNEAPOLIS, Oct. 29, 2010 (GLOBE NEWSWIRE) -- Coloplast announced today that it has acquired Mpathy Medical, a fast growing company in women's health, for a total cash consideration of USD 30m equal to DKK162m, potentially increasing to a total of USD 35m equal to DKK 189m on a cash and debt free basis. The acquisition expands the Coloplast female health portfolio of innovative product technologies and surgical solutions for female stress urinary incontinence and pelvic organ prolapse.
Mpathy Medical gives Coloplast the lightest weight mesh technologies in the world, less invasive pelvic restoration procedures, and an increased presence in the U.S. female pelvic health specialties market.
The Mpathy Medical acquisition is important in Coloplast's strategy to build a strong market presence within the highly competitive USD 500m, US and EU female pelvic health specialties market. The acquisition positions Coloplast for technology leadership and accelerated growth.
"I am very happy to announce this mutually beneficial acquisition," said Dave Amerson, Global Vice President, Coloplast Surgical Urology. "The acquisition of Mpathy will strengthen our presence in the female pelvic health market and raise the standard for innovation and patient outcomes in this market worldwide. We will leverage the strengths and best practices of both companies, which will give our customers access to an even stronger product portfolio and innovative solutions for restoring female pelvic health."
Coloplast will combine the two companies' complementary products into the Coloplast Surgical Urology division.
"I'm very proud of Mpathy's accomplishments," said James Browning, MD, founder and chief technology officer of Mpathy Medical, "and by being a part of Coloplast, we will improve our ability to provide technologically advanced surgical solutions to physicians, and improve outcomes for women."
Coloplast will pursue an integration of personnel, operations and products designed to ensure business continuity and exceptional customer service.
Danish medical device company Coloplast develops products and services that make life easier for people with very personal and private medical conditions. Working closely with the people who use our products, we create solutions that are sensitive to their special needs. We call this intimate healthcare. Our business includes ostomy care, urology, continence care, and wound and skin care. We operate globally and employ more than 7,000 people worldwide. In 2009, Coloplast opened the new North American headquarters in Minneapolis, Minnesota.The campus is LEED-certified (Leadership in Energy and Environmental Design) and is home to one of the company's three global research-and-development Innovation Centers. Others are located in Denmark and France.
To learn more about Coloplast, visit www.coloplast.com.
About Mpathy Medical
Mpathy Medical is a rapidly growing medical device company which has developed and brought to market a range of surgical solutions used to restore pelvic health to women. Mpathy Medical's core product lines -- Restorelle(r), Omnisure(r) and Minitape(r) -- are used by surgeons specializing in urogynecology, gynecology and urology to treat female stress urinary incontinence (SUI) and pelvic floor repair (PFR). The company is headquartered in Glasgow, Scotland, with U.S. operations in Raynham, Massachusetts, and has received FDA 510(k) clearance to market in the U.S. and CE marking in the EU for all its medical devices.
To learn more about Mpathy Medical, visit www.mpathymedical.com.