13th Sep 2018 09:25
LONDON (Alliance News) - Scapa Group PLC said Thursday it has acquired wound dressings manufacturing company Systagenix Wound Management Manufacturing Ltd for GBP31 million in cash.
Scapa, which manufactures adhesive-based products for healthcare and industrial markets, acquired Systagenix manufacturing operations, sterilisation services, warehouse facilities and R&D and regulatory support functions in Gargrave, UK, from medical device company Acelity LP Inc. Systagenix Wound Management Ltd and the Systagenix brand will remain part of Acelity.
Scapa also has separately entered into a five-year exclusive manufacturing supply agreement with Acelity for Systagenix advanced wound care products.
Scapa will fund the acquisition from existing cash reserves and bank facilities. It expects pro forma revenue from the acquisition and supply agreement to be GBP37.0 million per year on a statutory basis.
Shares in Scapa were trading 1.6% higher at 416.40 pence each on Thursday morning.
Related Shares:
SCPA.L