A healthcare firm specialising in the sale of interventional medical devices to the NHS has completed a management聽buyout from its US parent.
Based in Sheffield since 1987, UK Medical Ltd. products are used in minimally-invasive image-guided聽procedures to diagnose and treat diseases.
It was bought by US healthcare firm CareFusion in 2012, before that company was purchased by Becton Dickinson (BD) in 2015, a $10bn revenue global medical technology group.
Ian Aaron, managing director of UK Medical, said: 鈥淭his is a great deal for both companies and we look forward to a continued and long partnership with BD.
鈥淲e have exciting plans to grow the business and to partner with the NHS by supplying products that add value, improve patient care pathways and at the same time provide excellent value.
鈥淲e are very excited to be making a difference to patients and to the NHS.鈥�
UK Medical Ltd. has a particular focus on devices used in breast radiology, urology, interventional radiology and cardiology.
Don Gray from BHP Corporate Finance, who acted as lead advisors on the purchase, said: 鈥淲e are absolutely delighted to have worked with Ian and his team to deliver this cross-border buyout from BD.
鈥淥ur region is highly regarded for its healthcare companies and the deal demonstrates that there is a strong appetite to support innovative, high quality management teams in this sector.鈥�
Funding for the transaction was provided by HSBC鈥檚 South Yorkshire Corporate team.