Medline, an American healthcare company, announced that it has reached a definitive agreement to acquire Ecolab’s surgical solutions business for US$950 million.
The transaction is subject to standard closing conditions and regulatory approvals and is expected to close in the second half of 2024.
The deal will provide Medline with sterile draping solutions for surgeons and Ecolab’s fluid temperature management system.
“We are excited about the opportunity to acquire a leading portfolio of operating room products with a strong reputation for protecting patients and healthcare professionals,” said Jim Pigott, Medline’s president and chief operating officer.
“With our commercial capabilities and focus on operational excellence, we believe Medline is best positioned to grow this critical business and provide enhanced services to support our customers.
“This acquisition brings us a shared legacy of proven innovation, expanded service offerings, and the highest quality products. As we begin this exciting new chapter, we are committed to providing seamless integration for our employees and customers.”
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The acquisition also includes the Microtek product line, which Medline intends to further develop using its commercial, supply chain and manufacturing strengths.
The deal is designed to enhance Medline’s design and development capabilities, allowing the company to offer complementary products that protect patients and complex equipment in operating rooms.
Ecolab revealed the deal value in its first-quarter 2024 results.
Ecolab reported net sales of US$3.75 billion in the first quarter of 2024, an increase of 5% from US$3.57 billion in the same period last year.
Ecolab’s net profit this quarter was US$412.1 million, an increase of 77% from US$233.4 million in the same period last year.
In December, Medline further committed $300 million to its Healthcare Resiliency Initiative (HRI), which is designed to enhance the long-term supply chain resiliency of healthcare providers.
This investment adds to Medline’s massive $2 billion investment in HRI since 2018.
