DUBLIN, Ohio -- Medex, Inc. has acquired the worldwide Vascular Access business of Ethicon Endo-Surgery (a Johnson & Johnson Company). This acquisition positions Medex as a leading global provider of critical care products. The transition, expected to be complete within twelve months, includes Medex assuming responsibility for Vascular Access manufacturing operations in Connecticut, Mexico and Italy to support existing Vascular Access business operations. Although terms have not been disclosed, total annual revenues for Medex are expected to exceed $300 million for this coming year.
The Vascular Access business is a leading provider of peripheral intravenous catheters (PIVCs) and includes the PROTECTIV and ACUVANCE Safety I.V. catheters and OPTIVA, JELCO and CATHLON conventional I.V. catheters.
"The combined business will be a market leader, able to offer a strong portfolio of products with considerable distribution strength," said Dominick Arena, chief executive of Medex. "Our syringe pumps, fluid and drug administration products and PIVCs function together to safely deliver measured doses of fluids and drugs into a patients vascular system. We can now offer customers a complete fluid and drug infusion system."
"The combination of Medex and Ethicon Endo-Surgerys Vascular Access business creates one of the world's leading critical-care companies," said Timothy A. Dugan, partner at One Equity Partners. "With strong sales and distribution capabilities, and a world-class management team, Medex will serve as a terrific platform for additional growth in the critical-care arena."
"The transaction is yet another successful corporate partnership for the One Equity Partners healthcare team. Our track record of successfully transitioning businesses from larger healthcare companies helped us gain the confidence of Johnson & Johnson that this transaction was in the best interest of all parties," said Kip Kirkpatrick, partner at One Equity Partners.
"We are very thankful to our employees for placing trust in this teams ability to make decisions which allow continued growth for Medex," added Arena. "Our vision is just beginning to take flight."
One Equity Partners manages $3.5 billion of investments and commitments for Bank One Corporation in direct private equity transactions as well as venture and management buyout funds. Investment professionals are located across North America and Europe, with offices in New York, Chicago, Detroit and Frankfurt. One Equity Partners focuses on making majority-ownership investments in late-stage, middle-market companies, with an emphasis on corporate partnerships and divestitures.
Medex is a global provider of system solutions for critical care, with more than 40 years of experience developing fluid and drug delivery, respiratory therapy and pressure monitoring products. The company possesses the strength and vision to continue as a market leader in fluid and drug delivery systems with its line of Medfusion syringe pumps, administration sets and accessories, and a comprehensive line of intravenous catheters. Through the value Medex places on the customer, integrity and teamwork, the company has grown to almost 2,000 employees, manufacturing and marketing more than 3,000 products worldwide.