Rochester Medical has reached an agreement to purchase Fornix' wholly owned subsidiary Laprolan, a medical supplies distribution company of wound care, ostomy care and urology products in the Dutch market.
Under the agreement, Rochester Medical will pay approximately EUR10.35m (approximately $13.73m) in cash for the shares of Laprolan.
Rochester Medical CEO and president Anthony Conway said this acquisition when completed fits with their ongoing plan to expand their direct branded presence in mainland Europe.
"Laprolan has distribution rights to market products in wound care, ostomy care and urology products in the Netherlands and its product lines and sales presence are a welcome addition to the Rochester Medical product offering and team," Conway said.
The transaction is expected to close by 31 May 2011, but will have a retroactive effective date of 1 January 2011.