Knutsford healthcare company bought by US firm
Knutsford-headquartered advanced wound care and dermatology specialist Crawford Healthcare has been bought by Acelity in San Antonio, US.
Crawford Healthcare develops and commercialises treatments for the care and repair of skin. Its portfolio of products includes the KerraMax Care range, as well as KerraFoam and KerraCel.
Richard Hughes invested in Crawford Healthcare in 2009 and has since overseen the company’s turnaround.
The deal includes Crawford’s R&D capabilities and manufacturing operations in Cheshire.
Richard Anderson, chief executive of Crawford Healthcare, said: “The rapid growth of the business has been possible due to our focused investment in innovative products which are clinically proven to improve patient outcomes.
“Becoming part of the world’s largest wound care company will provide us with the scale to optimise our potential within the US, the largest global market, and the ability to further access and grow in other international markets with our best-in-class advanced wound care products.”
R. Andrew Eckert, president and chief executive of Acelity, added: “Crawford’s talented team, highly complementary line of advanced wound dressings, and track record of patient-focused innovation, makes it a terrific partner to accelerate our global growth.
“This transaction solidifies our ability to offer the most comprehensive line of wound care solutions and will enable us to create and consolidate leading positions in high-growth market segments, expand and strengthen our customer relationships, and enhance our innovation expertise for the benefit of clinicians and patients around the world.”
Anderson will continue to lead the Crawford organisation and its products will remain fully available to clinicians and customers as the two companies work together to form integration plans for the remainder of the year.
Christian Mayo, Ben Taylor and Ed Crocker from the corporate finance team at KPMG advised Crawford Healthcare on the transaction. Corporate partner Jonathan Watkins led the DLA Piper team advising Crawford Healthcare and was assisted by associate James Petts and trainee associate Abby Walton.
Mayo said: “Acelity’s acquisition of Crawford demonstrates the international appetite for the technological expertise and innovations of UK businesses. These transactions also offer local firms the opportunity to rapidly upscale and access transformational investment to help take their products and services to new international markets.”