Lexington is pleased to have advised Clinical Innovations (CI) upon its acquisition of Brisbane based JB Medical Supplies which is Australia's leading obstetrics distributor.
The deal strengthens Clinical Innovation's position in the Australian marketplace and supports the American company's broader global growth strategy. CI is one of the largest medical device companies exclusively focussed on pregnancy, labour and the neonatal intensive care unit and is a portfolio company of the investment firm, EQT, which hails from Sweden. EQT has a focus upon investments in European, Asian and the US based companies with leading positions in the manufactured products, services and healthcare sectors.
Lexington is delighted to have supported the CI team upon its acquisiton strategy for the second time in the last twelve months following on from the advice provided upon the purchase of Munich based Brenner Medical in 2017.
Gary Partridge who led the team alongside Thomas Edwards said "We worked across multiple time zones to get this transaction across the line in record-time. We hope to build upon our work with CI to explore further strategic opportunities with them and draw upon our expertise in Buy-side advice often having a cross-border element with other similar acquisitive businesses".
Lexington also worked closely with Redvers Best, CFO of the European operations of CI, to complete the JB Medical Supplies transaction and he is now responsible for the financial integration of the two businesses.