In January, British medical device manufacturer ConvaTec announced the acquisition of Dutch rival EuroTec Beheer for €25 million. MTI's Dave Gray sat down with Symeria Hudson, president, global franchises and innovation to find out what the deal really means for the UK firm.
What’s the background to the acquisition?
EuroTec represents a significant strategic opportunity for us in the France/Benelux region and the acquisition is an important step in continuing the positive momentum of our ostomy franchise. EuroTec will increase our sales and market share growth in the region. The business has a proven and successful direct to consumer model.
What's next in your growth strategy? Are there more acquisitions on the horizon?
We will actively consider acquisitions of, or investments in, complementary businesses or product lines that would enhance our business or product portfolio but our main focus is on growing our franchise revenue through launching new, innovative products, entering new large markets and investing in direct to consumer.
What can we expect to see in the market soon?
In ostomy care, our approach to innovation leverages our strength in providing the best adhesive technology in products for our users. We strive to create solutions that enable people with stomas to live life to the fullest, ensuring that our products fit into their lifestyle – and not the other way around. For example, if you have an ostomy, it’s remarkable how a change to a part of your body can begin to control so much of your life. We strongly believe that having a stoma doesn’t have to dictate who you are and what you do, and we make sure your needs are taken care of — so you can stop thinking about your condition or your stoma every second and focus on what’s really important.
How do customers play a part in the product development process?
The needs of our consumers inform an approach that includes providing superior products and support services, enabling ostomy patients to thrive and live the life they want. Over the past few years, we have redefined the way in which we engage with our consumers, and gathered insights into the consumer experience that have helped us shape and develop a new service and support platform for people living with an ostomy called me+. The me+ program is designed to support consumers along their care journey, and elevate their experience of living with an ostomy. Through the program, ConvaTec provides support to clinicians and caregivers, as well as personalised solutions for people living with an ostomy, through ongoing resources, tools, honest information, emotional support and products.
Our product innovation is also focused on addressing consumer needs and concerns, which include leaking, odour and skin issues, in order of importance. With our recently launched Esteem+ Flex Convex one-piece ostomy system, we completed a significant programme of new product launches in ostomy care, providing a full and comprehensive one-piece as well as two-piece portfolio. We are continuing to optimise our portfolio, building and improving on our adhesives and coupling technologies as well as closures and filters, to name a few examples.
Finally, what does ConvaTec bring to the table, beyond the products themselves?
By combining our product offering with a robust service and support program, it is our belief that people living with an ostomy are more likely to have good outcomes and a better experience of ostomy care. Through our commitment to education, community and advancements in product design and technology, we’re helping every person take back control and live life on their terms.
