Convatec Group plc is a medical products and technologies company based in
Reading, Berkshire
Reading ( ) is a town and borough in Berkshire, Southeast England, southeast England. Located in the Thames Valley at the confluence of the rivers River Thames, Thames and River Kennet, Kennet, the Great Western Main Line railway and the M4 mot ...
, England. offering products and services in the areas of wound and skin care,
ostomy care,
continence
Continence may refer to:
*Fecal continence, the ability to control defecation, see Fecal incontinence
*Urinary continence, the ability to control urination, see Urinary incontinence, the involuntary excretion of urine
*Sexual continence, a synony ...
and critical care and
infusion
Infusion is the process of extracting chemical compounds or flavors from plant material in a solvent such as water, oil or alcohol, by allowing the material to remain suspended in the solvent over time (a process often called steeping). An in ...
devices. It is listed on the
London Stock Exchange
London Stock Exchange (LSE) is a stock exchange in the City of London, England, United Kingdom. , the total market value of all companies trading on LSE was £3.9 trillion. Its current premises are situated in Paternoster Square close to St P ...
and is a constituent of the
FTSE 100 Index.
History
The company was established as a division of
E.R. Squibb & Sons, Inc. in 1978
and acquired by
Nordic Capital
Nordic Capital private equity funds focus on investments primarily in Northern Europe. Nordic Capital invests in selective industries with a particular focus on Healthcare, Tech & Payments and Financial Services. In addition selective investments ...
and
Avista Capital Partners
Avista Capital Partners is an American private equity firm headquartered in New York City focused on growth capital and leveraged buyout investments in middle-market companies in the domestic healthcare sector.
History
The firm was founded in 2 ...
in 2008.
[ In 2008 merged with Unomedical (with headquarters in Denmark), a manufacturer of single-use medical devices,
and 180 Medical, a ]catheter
In medicine, a catheter (/ˈkæθətər/) is a thin tubing (material), tube made from medical grade materials serving a broad range of functions. Catheters are medical devices that can be inserted in the body to treat diseases or perform a surgi ...
manufacturer, in 2012.
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. In October 2016 the company was valued at £4.4bn in the largest initial public offering
An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investme ...
on the London Stock Exchange
London Stock Exchange (LSE) is a stock exchange in the City of London, England, United Kingdom. , the total market value of all companies trading on LSE was £3.9 trillion. Its current premises are situated in Paternoster Square close to St P ...
in the year.
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.
On 25 March 2019, Convatec announced Karim Bitar, formerly CEO of Genus Plc
Genus plc is a British-based business selling elite genetics and other products manufactured using biotechnology to cattle and pig farmers. It is headquartered in Basingstoke and is a constituent of the FTSE 250 Index.
History
The business has ...
, had been appointed CEO and would join the business on 30 September 2019. Prior to Genus, Karim spent 15 years in various roles with increasing responsibility at Eli Lilly where from 2008 he was President of Europe, Australia and Canada, leading an organisation with annual sales of approximately US$5 billion per year.
On 19 August 2019, Convatec announced Dr John McAdam CBE would become Chairman, effective 30 September, the same day Karim Bitar became CEO.
Operations
The company has 9,000 employees and operates in more than 100 countries.[
]
References
External links
*
{{Authority control
Medical equipment
Health care companies established in 1978
1978 establishments in England
Companies based in Reading, Berkshire
Companies listed on the London Stock Exchange
Medical technology companies of the United Kingdom