The mobility and rehabilitation division within DCC Healthcare comprised Days Healthcare UK, Physio Med Services and Ausmedic Australia. Days Healthcare specialises in solutions for independent living, from practical aids for everyday activities to wheelchairs, while Physio Med Services is a catalogue-based marketer and distributor of physiotherapy products and Ausmedic Australia is an own-brand and third-party supplier of physiotherapy products in Australasia.
Clearwater International was retained by DCC plc to advise on the sale of the mobility and rehab products division of DCC. The €6.73bn turnover diversified support services group took this decision as part of its continuing strategy to focus on market leading positions in the markets in which it operates. Following a worldwide search for international buyers, agreement was reached to sell the division to Patterson Medical, part of the US $3.2bn turnover group, Patterson Companies of the US. Our experience in the healthcare sector combined with a highly responsive service and excellent project management were major factors in successfully completing this cross-border deal for DCC. Clearwater International were able to provide in depth research on potential buyers from around the globe, fully project manage the sale process and lead all material negotiations.
The transaction allows DCC to concentrate its focus on the remaining core of its larger healthcare businesses and its other divisions, and provides Patterson with an excellent foothold in the European and Australasian markets. The deal represents another successful transaction by our Healthcare team which, together with its international partner offices, is advising on an increasing number of M&A transactions in the healthcare sector.