Bristol-Myers Squibb divests ConvaTec
This article was originally published in The Gray Sheet
Executive Summary
Drug maker Bristol divests its ostomy and wound care device business to private equity firms Nordic Capital Fund VII and Avista Capital Partners for $4.1 billion May 2. Avista previously acquired Bristol's imaging agent franchise for $525 million in December (1"The Gray Sheet" Jan. 7, 2008, p. 22). The moves are part of Bristol's broader effort to sharpen its focus on drugs