Standard Life Investments
ConvaTec

Who is ConvaTec?

Acquired by Nordic Capital in 2008, ConvaTec is a developer and marketer of innovative medical technologies sold in over 100 countries. In late 2016, ConvaTec was listed on the main market of the London Stock Exchange and subsequently included in the FTSE 100 index. The listing represented the largest European healthcare IPO in more than 20 years and the largest MedTech IPO globally in more than 10 years.

What does ConvaTec do?

ConvaTec is a global medical products and technologies company, focused largely on chronic care devices in the areas of advanced wound care, ostomy care, continence& critical care and infusion devices. The company’s products provide clinical and economic benefits including infection prevention and improved patient outcomes in addition to reduced cost of care. ConvaTec has over 8,500 employees and 9 manufacturing sites globally.

"Improving the lives of the people we touch" - ConvaTec

The opportunity

Why Nordic Capital invested in this business:

  • Strong technology platform and brands in in attractive chronic care medical technology markets
  • Positive growth outlook driven by structural growth in chronic care end markets, further penetration of certain product and geographic markets and significant potential from new innovation
  • Opportunity to reposition ConvaTec to chronic care leadership through accretive M&A encompassing both adjacent products and strengthened value chain position
  • A unique opportunity to apply the private equity model into a business previously held within a large corporate

"Not only does ConvaTec operate in a growing market, there is potential to optimise the cost base and drive further growth through new product launches" - Patrick Knechtli, SL Capital

Why we like the investment

"ConvaTec is a strong endorsement of Nordic Capital's expertise in the healthcare sector as they have engineered a complex spin-out from a large healthcare conglomerate, grown the business through multiple channels and facilitated a successful IPO in London" – Patrick Knechtli, SL Capital

Investment Year

2008

Head office

UK

Status

Partial exit

Standard life Capital