Kimberly-Clark Health Care Buys Anesthesia Unit from Life-Tech
Kimberly-Clark Corporation (NYSE: KMB) today announced the acquisition of the anesthesia business of Life-Tech, Inc., a Texas-based medical device manufacturer. The acquisition is comprised of needles, catheters and accessories associated with peripheral nerve block (PNB) procedures. The newly acquired assets will become part of Kimberly-Clark's Health Care business and will be added to K-C Health Care's ON-Q^® family of products. Other business segments of Life-Tech are not included in this transaction.
"Having previously distributed Life-Tech's anesthesia-based product portfolio, this acquisition fits strategically with our vision of being the leader in comprehensive PNB solutions," said Joanne Bauer, president, Kimberly-Clark Health Care. "The Life-Tech assets will allow ON-Q^® to capitalize on its leading position in the pain pump market and enhance margins on these products through internal manufacturing."
"Life-Tech pursued this opportunity because we believe that K-C Health Care will provide our customers with a wider array of services, products and expanded support," said Alfred C. Coats, president and CEO of Life-Tech.
The financial details of the transaction are not being disclosed.
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