Femcare sold to Utah Medical for £25 million

Mid-market private equity firm Barclays Private Equity has exited Femcare Group, selling its holding in the business to Nasdaq-listed Utah Medical Products for £25 million.

Femcare-Nikomed, part of the Femcare Group, manufactures and supplies the “filshie clip” system for female contraception. The deal represents a two times capital return for Barclays Private Equity, according to a statement from the fim.

More than 10 million filshie clips have been successfully used since launching in 1982. Femcare also supplies disposable surgical and laparoscopic instruments, and urological disposable products.

Barclays Private Equity backed the buy-out of Femcare in 2004 and introduced a new senior management team in 2005 including chief executive Roy Smith. The business has a strong international focus, with 70 per cent of sales from outside the UK and it has the potential for more growth following the approval of the clip system in Brazil and Korea.

Barclays Private Equity director Phil Griesbach comments, ‘We have enjoyed working with the management team at Femcare, which has successfully driven the business forward through intelligent product development and geographical expansion.’

Todd Cardy

Todd Cardy

Todd was Editor of GrowthBusiness.co.uk between 2010 and 2011 as well as being responsible for publishing our digital and printed magazines focusing on private equity and venture capital. Connect with...

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