Friday 15th June 2018
Led by corporate director Matthew Sutton, Greenaway Scott advises one of the world's largest medical device companies, Clinical Innovations LLC on their cross-border acquisition of Australian distributor JB Medical Supplies Pty Ltd.
Clinical Innovations which is a specialist in labor and delivery and neonatal intensive care products is owned by EQT, a leading investment firm with approximately EUR 50 billion in raised capital across 27 funds. Formed in 1993, Clinical Innovations is celebrating its quarter-century anniversary throughout 2018.
The deal strengthens Clinical Innovations' position in the sizable Australian market and supports the company's broader global growth strategy. JB Medical Supplies, Australia's leading obstetrics distributor, will operate as a wholly owned subsidiary of Clinical Innovations.
The Salt Lake City Company bought JB Medical Supplies from the family of the late Dr. Aldo Vacca, a trailblazer in the vacuum method for operative vaginal delivery, a technology used in about 10 percent of births globally and a key component of the Clinical Innovations product offering. More than 10 million of the company's Kiwi® Vacuum Assisted Delivery System devices have been deployed worldwide.
"The Vacca family is a leader in the world of obstetrics whose work has improved the lives of countless mothers and babies across the globe," said Ken Reali, president and CEO of Clinical Innovations.
"Partnering with them on this deal is an honor and having JB Medical as part of our company will accelerate our growth in Australia."
With market-leading products such as the ebb® Complete Tamponade System, traxi® Panniculus Retractor and babyLance™ safety heel stick, Clinical Innovations has a presence in more than 90 countries. The company has quickly grown its global footprint in recent years, expanding to new territories, including underserved markets in Southeast Asia.
JB Medical Supplies, which offers customers innovative products as well as support services aimed at ensuring clinician confidence and optimal patient outcomes, will continue to be led by CEO John Gairns.
"I am thrilled to work with the Clinical Innovations team," Gairns said. "Being part of one of the world leaders in obstetrical and neonatal care will add to the JB Medical growth strategy."
"Through John's dedication and the tireless efforts of his entire team, JB Medical has built a world-class operation with a philosophy that's perfectly in-sync with the way we do business," said Steve Cash, senior vice president of global sales at Clinical Innovations.
"We've long enjoyed a tremendous relationship, and this acquisition will allow us all to accomplish even more."
Matthew Sutton, Corporate Director of Greenaway Scott commented "Having previously worked with Clinical Innovations we were delighted to advise on this acquisition alongside our wider international team and we look forward to assisting them further with their impressive worldwide expansion plans".