ConvaTec posts strong financial results for FY 2013
Published on May 6, 2014 at 9:13 AM
ConvaTec, a privately-held medical products and technologies company, today announced strong financial results for the year ended December 31, 2013. Revenue for the year increased 3.9% to $1.701B, and adjusted EBITDA, excluding the impact of realized foreign exchange, was up 11.2% to $552.9M.
The company also reported that revenue for the first quarter of fiscal 2014, which ended March 31, 2014, was up over 15% on a preliminary basis. Sales increased across all regions and franchises, with exceptional growth in the Americas and in the Wound Therapeutics and Continence and Critical Care segments.
"Last year was the second year in a row of accelerated business performance for ConvaTec, and we're off to a very strong start to 2014," said Ken Berger, CEO of ConvaTec.
"Our products are resonating in the marketplace, and we are excited about our new product launches. These include a breakthrough AQUACEL wound dressing that promotes healing by disrupting biofilms, an enhanced portfolio of catheters under the GentleCath brand and new ostomy products with our proprietary Moldable Technology for the best fit and skin protection."
ConvaTec will host a conference call on Tuesday, May 6, 2014, at 9:00AM EDT, to discuss these results. Click here for more information. ConvaTec's 2013 Annual Report is available here.