Transaction Details
Press Release
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HemCon Medical Technologies sells Oral Care Division
Sale allows HemCon to focus on hemostasis and infection control business
PORTLAND, Ore. and COLOGNE, Germany – July 12, 2010 – HemCon Medical Technologies Inc. (“HemCon”), a leading developer of advanced medical technologies and products, today announced the divestiture of its oral healthcare products division to Ranir, LLC. Ranir manufactures and markets consumer oral care products in North America. The oral healthcare business, known as Synpart, offers private-label oral care products and has offices in the UK and Germany with manufacturing facilities in China. Financial terms were not disclosed.
The sale will allow HemCon to focus on its innovative product portfolio of hemostasis and infection control products while reducing debt levels significantly. In the past eighteen months, HemCon has launched five products into the acute care and military markets. The GuardIVa™ Hemostatic Antimicrobial IV Dressing received FDA clearance in June, and is the only antimicrobial IV dressing available on the market with a hemostatic claim. HemCon also launched its next generation of hemostatic dressings, ChitoGauze™ and GuardaCare™, based on its chitosan coated gauze platform for severe bleeding control on the battlefield and for acute care use. The HemCon Nasal Plugs and HemCon Patch™ products were also released in 2009.
HemCon will also focus on the development of several strategic domestic and international partnerships, which include Zimmer Dental, Zeria Pharmaceuticals, and Cardinal Healthcare. Supporting these partners as they introduce HemCon’s portfolio of new products into the marketplace is a key HemCon initiative moving forward. “We have an exciting portfolio of products in the market and in our pipeline,” said John W. Morgan, President and CEO of HemCon. “Having established strong channel partners, we can bring our advanced wound care products to the marketplace and provide solutions that improve patient care.”
About HemCon Medical Technologies Inc.
HemCon Medical Technologies is a leading global developer of advanced medical products designed to improve the standard of patient care. The company is responsible for developing the chitosan-based HemCon dressing used by thousands of military and civilian first responders and is changing wound care best practices in hospital, dental and clinical settings; as well as the proprietary composition of oxidized cellulose, used worldwide for wound care applications. In addition, HemCon is leading the charge to develop and license unique, life-saving medical advances including lyophilized human plasma and nanofiber technologies for wound care. HemCon is headquartered in Portland, Ore., with additional commercial operations in Ireland, England and the Czech Republic. For more information, please visit www.hemcon.com.
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