Coloplast (CPH:COLO-B) recently confirmed that it is conducting an unconditional strategic review of its interventional urology division.
That’s corporate speak for potentially selling it.
The June 4 announcement came amid rumors of a potential sale. A Coloplast spokesperson had no further comments when reached by MassDevice.
Coloplast’s interventional urology business grew 6% during the fiscal year ended Sept. 30, 2018, bringing in 1.74 billion Danish krone (about $276 million) in revenue, according to the company’s most recent annual report. The business enjoys a 15% market share, with growth driven by the U.S. market and sales of Titan penile implants.
Its products are used in surgical procedures in urology and gynecology, including prostate catheters, stents, vaginal slings used to restore continence, mesh products used to treat weak pelvic floor and penile implants for men experiencing severe impotence.
The strategic review announcement comes nearly two months after the U.S. FDA ordered Coloplast and Boston Scientific (NYSE:BSX) — the only two companies still selling surgical mesh for transvaginal repair of pelvic organ prolapse — to stop selling the devices. Transvaginal mesh came under scathing criticism last year from reports including Netflix’s “The Bleeding Edge” documentary and the International Consortium of Investigative Journalists’ Implant Files.
Coloplast as of late 2018 had spent 4.7 billion Danish krone (about $744 million) settling lawsuits related to transvaginal surgical mesh products, according to the company’s most recent annual report.
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