Covalon Technologies completes AquaGuard acquisition integration

Covalon Technologies said today that it successfully completed its integration of Cenorin‘s AquaGuard division, which it acquired earlier this month.

Covalon said that it closed the $12.4 million (CAD $16.1 million) acquisition of the AquaGuard business on October 1. The acquisition includes moisture protection for wound, surgical and vascular access sites, Ontario-based Covalon said.

“The speed with which we were able to successfully integrate the AquaGuard team with Covalon has exceeded my expectations. I am extremely excited that as a unified company, Covalon, along with our new AquaGuard sales force, is now able to sell a strong portfolio of infection management products such as IV Clear, MediClear PreOp, SurgiClear, and AquaGuard into an established client base of over 1,500 hospitals and clinics in the United States. I am more optimistic than ever that the synergies resulting from this successful integration are highly beneficial and accretive to Covalon,” CEO Brian Pedlar said in a press release.

The company said that it has also received the first payment of $3.5 million under a new licensing agreement with an unnamed “global medical company” for rights to use its antimicrobial coating technology. The deal includes an additional $5 million in license fees based on milestones.