Flexicare acquires its first mainland European business

Flexicare, an expanding medical devices business based in Mountain Ash, has made its biggest acquisition yet in a deal expected to increase its sales by a third to £60m.

WalesOnline reports Flexicare, which makes a wide range of medical devices from respiratory to continence care products, has confirmed its first mainland European acquisition in medical devices firm Medisize B.V, which operates out of offices in the Netherlands and has subsidiaries in Germany and Italy.

Flexicare currently employs one hundred and twenty staff worldwide, with sixty five at its head office in Mountain Ash, where it was established in 1989. The acquisition of Medisize, its third in the last thirteen months, sees Flexicare adding a further forty five staff.

Medisize manufacturers a range of respiratory and anaesthesia products for critical care, neonatology, emergency, homecare and radiology.

The value of the deal has not been disclosed. Revenues figures for Medisize B.V are not publicly available, but some analysts suggest it could add a further £20m in turnover to Flexicare. For the year to the end of November, 2016, Flexicare generated global sales of £28.5m. For the current financial year it is expected to grow sales by a further 40% to £40m. And with the new sales contribution of Medisize, it it is expected to become a £60m revenue business.

Medisize has been acquired from an affiliate of Phillips-Medisize.

Flexicare managing director Hash Poormand said “This transaction underscores our commitment across Europe to be a leader in airway management and anaesthesia, with the ability to deliver and service the market at scale. The rapid organic growth that we have enjoyed, as a result of our innovative product portfolio and recent acquisitions, will give us further reach and the combination of the two companies will increase the value Flexicare and Medisize B.V. deliver to its customers and end users. The acquisition is expected to immediately accelerate revenue growth and drive overall earnings growth potential for Flexicare’s wider range of anaesthesia and airway management products, truly exciting times ahead.”

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