ConvaTec, which just named a new CEO and is rumored to be up for sale, plans to raise nearly $1.9 billion in loan and credit facilities in a debt-refinancing move.
ConvaTec, which is rumored to be exploring a sale, said yesterday that it made its interim CEO, former EMEA president Paul Moraviec, to be its new permanent CEO.
Luxembourg-based ConvaTec, which is owned by private equity firms Avista Capital Partners and Nordic Capital, tapped Moraviec to lead its business in Europe, the Middle East and Africa in 2009.
October 16, 2014 by Brian Johnson
(Reuters) – ConvaTec‘s owners have appointed Morgan Stanley and Goldman Sachs to explore a sale of the medical device maker which could be worth up to $10 billion, sources familiar with the matter said.
Device maker ConvaTec landed in the FDA’s cross hairs after the company recalled a device that the agency says never underwent regulatory review.
ConvaTec is cutting nearly 120 employees from its Skillman, N.J., headquarters and moving its operations to a smaller facility in the state, according to a local report.