NEW YORK -- Bristol-Myers Squibb Company (NYSE:BMY) announced today it has signed a definitive agreement to sell its ConvaTec business unit to Nordic Capital Fund VII ("Nordic Capital") and Avista Capital Partners ("Avista") for $4.1 billion subject to adjustments based on ConvaTec's audited 2007 financial statements and closing working capital. ConvaTec is a world leader in the development and marketing of innovative wound therapeutics and ostomy care products.
"In December 2007, we announced our evolution into the leading next-generation BioPharma company and that as part of the transformation we would undergo a thorough strategic review of our non-pharmaceutical assets," said James M. Cornelius, chairman and chief executive officer, Bristol-Myers Squibb Company. "Since then, we have announced the sale of Medical Imaging, …
