Acquisition of Hospithera by The Surgical Company
The Surgical Company, headquartered in Amersfoort, the Netherlands, has two divisions, active in the distribution of innovative medical devices and supplies and in the development, production and marketing & sales of proprietary advanced technological products for hospitals. The distribution division operates sales and service organization in France, Belgium, the Netherlands and Germany. Key skill of the division is the introduction of medical innovative technology and specialty products in the fields of among others anaesthesia, pulmonology, interventional and general surgery, cardiology, radiology, neonatology and uro- and gynaecology. The consolidated revenues of the Surgical Company exceed € 75 million. The acquisition of Hospithera strengthens the market position in Belgium significantly. It is TSC’s policy to maintain the strong local brands in the different countries as Sebac and Adhesia in France.
Hospithera, with office in Brussels and warehouse in Nivelles, was founded in 1962 and in 2004 acquired by Docpharma. Via two acquisitions it is since 2007 owned by Mylan, a large US generic pharma corporation. As leading supplier of medical devices and supplies Hospithera distributes 220 brands and 8000 SKU’s on the Belgian market, realizing € 44 million revenues. It is organized in 5 commercial divisions: Critical Care, Interventional Care, Ophthalmology, Sterilization & Hygiene and Surgery with over 100 employees. With the acquisition by The Surgical Company Hospithera gets a shareholder with a strategic fit.
Strategique acted as advisor to The Surgical Company to valuate the target initially, to execute the pre-due diligence, to draft the initial documentation as the indication of interest, transaction structure and the exclusivity, to manage the financial and legal due diligence, to negotiate the price and conditions and to review final documentation.