On October 9, the US medical services company Kantler announced that it has completed the acquisition of Contith, with a total investment of 1.944 billion US dollars. Contith is a subsidiary of Johnson & Johnson, Inc., a manufacturer of cardiac and vascular medical devices .
The acquisition, which lasted more than half a year, is finally coming to an end. According to Kantler, since the launch of the acquisition plan in March this year, the relevant management team has been in place, and the integration of the two companies has started. All integration and transfer work will be completed in the next few years. David J. Wilson remains the President of Contith Global.
According to George Barrett, Chairman and CEO of Kantler, the acquisition will strengthen Kantler's strength in areas including cardiovascular and cerebrovascular, wound management and orthopedics. In addition to providing existing cardiac and vascular medical devices, the integrated company will also provide innovative solutions for supply chain management, inventory optimization, and workflow tools and data.
For the impact of the acquisition cost, Kantler predicted that the acquisition will slightly reduce its net profit for FY2016.
Contith, a subsidiary of Johnson & Johnson, has annual sales of about $780 million in 2014. Among them, the sales ratio of heart and blood vessel products is close to 1:1. Contes has operations in more than 50 countries around the world, including China.
As a healthcare services company, Kantler works with pharmacies, hospitals, doctors' offices, surgical centers and clinical laboratories across the entire healthcare service, from prescription drugs to clinician clothing, surgical gloves and laboratory supplies. Its fiscal year 2014 turnover was $91 billion.
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