Sweden ’ s SCA buys BSN Medical for $2.8B

Swedish hygiene and forest products maker Svenska Cellulosa Aktiebolaget won out over private equity rivals in the race for BSN Medical, with SCA agreeing to pay nearly $2.82 billion (€2.7 billion) for the wound care and orthopedics firm. Luxembourg-based BSN launched in 2001 as a joint venture between Germany’s Beiersdorf and Smith & Nephew (NYSE:SNN). Swedish PE shop EQT bought BSN in 2012 for €1.8 billion. BSN employs about 6,000 workers and posts annual sales of more than €860 million. The deal, expected to close during the 2nd quarter next year, caps a bidding war among PE players BC Partners, Blackstone and CVC, as well as SCA, that was said to value BSN for as much as $3.4 billion. “This deal is a clear reflection of the dedication and expertise shown by all of our employees over the past 4 years as well as the strategic progress BSN has made under EQT ownership. EQT provided the support both on an industrial and financial level that allowed the business to thrive and expand internationally. Now it is the time to take the next step on our journey,” BSN CEO Guido Oelkers said in prepared remarks. “SCA recognizes our expertise, and will provide the financial firepower required to develop our existing capabilities in R&D, continue on our growth path and expand our offering in new and existing markets. SCA will prove to be the ideal strategic partner, and as a member of its organization, we will continue on our evolutionary and s...
Source: Mass Device - Category: Medical Equipment Authors: Tags: Mergers & Acquisitions Orthopedics Wall Street Beat Wound Care BSN Medical Svenska Cellulosa Aktiebolaget (SCA) Source Type: news