DCC Healthcare is to acquire medical devices multinational Medi-Globe Technologies GmbH, its largest acquisition to date, based on an enterprise value of €245m.
The transaction is subject to competition authority approval in Germany and France and is expected to complete later this year.
Medi-Globe, founded in 1990, is involved in the development, manufacture and distribution of single-use devices for endoscopy in diagnostic and therapeutic procedures. According to DCC, the business has “grown organically and through bolt-on acquisitions to become a leading global player in its focus areas of gastroenterology and urology”.
Medi-Globe has revenues of approximately €120m and employs about 600 people. Its products are sold to hospitals and procurement organisations in over 120 countries through direct sales operations in Germany, France, Austria, Netherlands, Czechia, and Brazil, and through an international network of distributors.
Its approach to medical devices features a focus on minimally invasive procedures.
DCC chief executive Donal Murphy said: "The synergistic acquisition of Medi-Globe significantly expands and enhances DCC Vital’s position in the medical devices sector. It will create a leading international platform in single-use medical devices for minimally invasive procedures, with strong product development capability.
“The acquisition of Medi-Globe and other recent acquisitions in DCC Healthcare and DCC Technology are consistent with our ambition to really scale our operations in these higher growth sectors.
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"We are very pleased with DCC Vital’s progress in expanding its market positions beyond Britain and Ireland — we now have strong European growth platforms in both medical devices and primary care supplies."
DCC Healthcare’s annual revenue is c.€880m and it has 2,800 employees in its operations in Britain, Ireland, USA and the DACH region.
DCC Healthcare has two areas of activity, DCC Vital, into which the latest acquisition will be integrated, and DCC Health & Beauty Solutions with a core focus of nutrition.
DCC Group is listed on the London Stock Exchange, employs more than 15,000 people in 21 countries, and had revenue of €20.4 billion (£17.7 billion) in the year to March 2022, with an adjusted operating profit of €678m (£589m).
