Exclusive-Buyout firms GTCR, CD&R circle Merit Medical -sources
By Chibuike Oguh
(Reuters) – GTCR LLC and Clayton, Dubilier & Rice (CD&R) are amongst non-public fairness companies which have expressed curiosity in buying U.S. medical machine producer Advantage Medical Techniques Inc, based on individuals accustomed to the matter.
GTCR has knowledgeable Advantage Medical it will be keen to pay $72 to $75 per share, one of many sources mentioned. Advantage Medical shares have been buying and selling at round $61 earlier than Reuters reported on March 9 that the corporate was exploring a sale.
Different non-public fairness companies may additionally categorical curiosity in Advantage Medical and there’s no certainty that any deal will likely be reached, the sources mentioned. Ought to there be a deal, it may come as early as Might, the sources added, asking to not be recognized as a result of the matter is confidential.
Spokespeople for GTCR and CD&R declined to remark. A Advantage Medical spokesperson didn’t instantly reply to requests for remark.
Advantage Medical manufactures and sells units and devices utilized in cardiology, radiology, oncology, important care and endoscopy.
The South Jordan, Utah-based firm beforehand attracted the curiosity of activist hedge fund Starboard Worth LP, which clinched an settlement in 2020 to shake up Advantage’s board of administrators.
Each GTCR and CD&R are prolific traders in well being and medical machine companies and have been looking for to capitalize on a wave of consolidation sweeping the business.
One among GTCR’s portfolio firms, vaccine reagent supplier Maravai LifeSciences Holdings Inc, turned down an $11 billion acquisition provide from laboratory provides vendor Sartorius AG in February, sources advised Reuters on the time. It stays doable that the businesses will negotiate a deal.
(Reporting by Chibuike Oguh in New York; Enhancing by Chizu Nomiyama)
