Clearwater advises £25m US takeover
The Birmingham office of Clearwater Corporate Finance has advised Barclays Private Equity on the £25m sale of Femcare Group. NASDAQ-listed Utah Medical Products (UTMD) bought the Hampshire-based contraception supplier in the transatlantic deal.
The sale is Clearwater’s tenth cross-border deal in the last 12 months.
Femcare-Nikomed, part of Femcare Group, supplies female surgical contraception device Filshie Clip System. More than ten million Filshie Clips have been applied since its launch in 1982.
US-based UTMD develops, manufactures, assembles and markets a broad range of disposable and reusable medical devices.
Andy Moore, head of healthcare at Clearwater Corporate Finance’s Birmingham office, said: “The sale of Femcare is another example of the ongoing globalisation of the medical device industry, triggered by companies looking to access both new products and distribution channels.
“Working in partnership with IMAP, more than 50 per cent of Clearwater’s M&A transactions are cross border. The sale is further evidence of Clearwater’s ability to access global buyers and its continuing expertise in the medical device sector.”
Pinsent Masons provided Barclays Private Equity with legal advice, while Utah Medical Devices was advised by Osborne Clarke.
