London, United Kingdom (PressExposure) December 28, 2009 -- A New York -based private equity firm Avista and Stockholm-based Nordic Capital Fund VII has agreed to acquire Convatec, Princeton, N.J, a manufacturer and marketer of ostomy and modern wound and skin care products, from New York-based biopharmaceutical and health-care company Bristol-Myers Squibb for $4.1 billion. The transaction is expected to be completed in the third quarter of 2008.
The global advanced wound care management market was valued at $1.73 billion in 2007. The advanced wound management market showed high growth rates historically, a trend that is expected to continue in the future. The rapid growth in this market can be attributed to advanced wound care replacing the traditional wound care market. The global ostomy market, valued at $1.7 billion in 2007 grew at a CAGR of 5.6 percent in last five years.
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