DCC Healthcare buys Medi-Globe in largest acquisition to date

Irish sales and marketing giant DCC has announced that DCC Healthcare has agreed to acquire Medi-Globe Technologies GmbH, an international medical device company.

The acquisition is expected to be based on an enterprise value of approximately €245 million and is expected to generate a mid-teens return on investment in three years. It is DCC Healthcare’s largest acquisition to date.

The transaction still has to be approved by the competition authorities in Germany and France and is expected to close in the last quarter of this year.

Medi-Globe was founded in 1990 and deals with the development, manufacture and sale of single-use devices for endoscopy in diagnostic and therapeutic procedures.

The company was acquired by private equity group Duke Street in 2016.

Medi-Globe has a turnover of around 120 million euros and employs around 600 people. Its products are sold to hospitals and procurement organizations in over 120 countries.

The acquisition marks an expansion of DCC’s presence in the European healthcare market following its acquisition of primary care provider Wörner Medical in May last year.

“The synergistic acquisition of Medi-Globe significantly expands and strengthens DCC Vital’s position in the medical device space. It will create a leading international single-use medical device platform for minimally invasive procedures with strong product development capabilities,” said Chief Executive Donal Murphy.

“The acquisition of Medi-Globe and other recent acquisitions by DCC Healthcare and DCC Technology are consistent with our commitment to truly scale our operations in these higher growth sectors.”

https://www.independent.ie/business/irish/dcc-healthcare-buys-medi-globe-in-largest-acquisition-to-date-41970930.html DCC Healthcare buys Medi-Globe in largest acquisition to date

Fry Electronics Team

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