ConvaTec has bought EuroTec Beheer, a Netherlands-based manufacturer of ostomy appliances, for €25m (£21.2m), its first acquisition since floating last year (Insider Media, 2017).

Eurotec Beheer manufactures one and two piece ostomy systems and accessories and distributes them through its own distribution channels in the Netherlands and Belgium, and through partners in other markets. The deal includes Eurotec Beheer’s production facilities in Roosendaal, Netherlands.

Paul Moraviec, chief executive of ConvaTec, said “The addition of EuroTec to the ConvaTec family significantly strengthens our ostomy care business in the France and Benelux region, and is an important pillar in the growth strategy for our ostomy care franchise. ConvaTec and EuroTec share a common commitment to improving the lives of people with stomas and a dedication to providing quality products, excellent service and personal support. We look forward to working with our EuroTec colleagues to inspire more ostomates to live the life they want.”

ConvaTec has its corporate headquarters in Reading and a factory in Deeside, employing more than 9,000 staff.

It floated on the main market of the London Stock Exchange in October 2016 with a market capitalisation of £4.39bn, raising gross proceeds of £1.47bn.