Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the wordpress-seo domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /var/www/html/wp-includes/functions.php on line 6260 Halyard Sells SI&P Business - Nonwovens Industry

What are you searching for?

Sign in
Breaking News

Halyard Sells SI&P Business

Deal acclerates company's transformation to a pure-play medical device business

Author Image

By: Karen McIntyre

Editor, Nonwovens Industry

Halyard Health, Inc. has completion of the previously disclosed divestiture of its Surgical Infection and Prevention SI&P) business to Owens and Minor, Inc. for $710 million. Halyard intends to use the approximately $600 million in net proceeds from the sale to pay off its existing Term Loan B credit facility and to fund internal investment and M&A.

“The divestiture of S&IP transforms us into a focused, pure-play medical devices business with a clear playbook for solid revenue and earnings growth,” says Joe Woody, Halyard CEO. “The additional financial capacity will fund our dual-track growth strategy, focused on product innovation and strategic M&A and underpinned by a commitment to commercial excellence.”

S&IP provides healthcare supplies and solutions that target the prevention of healthcare-associated infections.

The divestiture of the S&IP business accelerates Halyard’s transformation into a pure-play medical devices business, with market leading positions in its core franchises of pain management and chronic care. As a growth-oriented business with a singular focus on devices, the company will be well positioned to succeed in its higher growth and higher margin categories. Halyard will benefit from a more simplified structure, enhanced management focus and significant firepower to invest in growth. The company will pursue a dual-track growth strategy through R&D and M&A, with a focus on maintaining and extending its leadership positions in its core franchises and expanding into attractive adjacencies.

 

Add us as a preferred source on Google

Get the latest Nonwovens Industry news, insights and analysis in your Google Search and AI experiences.

Add Nonwovens Industry as a preferred source on Google (opens in a new tab)

Keep Up With Our Content. Subscribe To Nonwovens Industry Newsletters

Topics