Saturday, May 03, 2008

BMS sell ConvaTec to finance purchase of.....

The drug developer Bristol-Myers Squibb said it would sell ConvaTec, its wound therapy and surgical care unit, for $4.1 billion to two private equity firms.

Proceeds from the sale, to Nordic Capital and Avista Capital Partners, will be used to help finance Bristol-Myers’s strategy to shift its focus to biopharmaceuticals.

1 comment:

Anonymous said...

you have this wrong. 1) ConvaTec has a Wound Therapeutics unit and an Ostomy Care unit -- There is no surgical care unit. 2) Proceeds from the sales TO Bristol-Myers Squibb not to Avista or Nordic.